Zero income tax up to 7 lakhs, expensive cigarettes, See what all are there in the budget 2023

Finance Minister Nirmala Sitharaman presented the general budget in the Parliament today. The main attraction of the budget was exemption in income tax, along with this many important things were missed.

Those earning up to 7 lakhs annually will not have to pay any tax. Micro industry with a turnover of 3 crores will be given tax exemption. New tax rate of personal income tax 0 to 3 lakh rupees nil, 3 to 6 lakh rupees 5%, 6 to 9 lakh rupees 10%, 9 to 12 lakh rupees 15%, 12 to 15 lakh rupees 20% and Above 15 lakh will be 30%. Contingency fee on cigarettes increased by 16 percent. 50 additional airports, helipods, water aerodromes and advanced landing grounds to be repurposed to improve regional air connectivity. The limit of Senior Citizen Account Scheme will be increased from 4.5 lakh to 9 lakh. Mahila Samman Bachat Patra Yojana will start. In this, women will get 7.5% interest on savings of 2 lakhs. 38,000 teachers and support staff to be recruited in next 3 years for 740 Eklavya Model Residential Schools.

30 Skill India National Sectors to be opened to skill youth for international opportunities. PM Pranam Yojana will be launched to promote alternative fertilizers. 500 new plants will be set up under the Gobardhan scheme. 35 thousand crore rupees will be invested in the field of energy security. Rs 20,700 crore to be invested in renewable energy sector. Relief will be given to MSMEs affected by the pandemic. Voluntary Redressal Scheme to be introduced for settlement of contractual disputes. Capital investment outlay being increased by 33% to Rs 10 lakh crore, which will be 3.3% of GDP. A capital outlay of Rs 2.40 lakh crore has been made for the Railways in the budget. 157 new Nursing Colleges to be set up in Sahasthan with existing 157 Medical Colleges established since 2014. National Digital Library for Children and Adolescents to be set up. Agriculture credit target to be raised to Rs 20 lakh crore with focus on animal husbandry, dairy and fisheries.

Startups related to agriculture will be given priority. Agriculture Accelerator Fund to be set up to encourage agri-startups by young entrepreneurs. PMBPTG Development Mission to be launched to improve the socio-economic condition of tribal groups in particular, to provide basic amenities to PBTG habitations. A capital outlay of Rs 2.40 lakh crore has been made for the Railways in the budget.