Budget 2023: Top 10 quotes from FM's Speech today
2 min read . Updated: 01 Feb 2023, 02:34 PM IST
Premium- Union Finance Minister Nirmala Sitharaman on 1 February presented the last full-fledged Union Budget 2023 of the Modi government before the 2024 Lok Sabha elections
Union Finance Minister Nirmala Sitharaman on 1 February presented the last full-fledged Union Budget 2023 of the Modi government before the 2024 Lok Sabha elections. While presenting the Budget, the finance minister said, “India will focus on economic growth and job creation and cut down fiscal deficit."
Also Read: Union Budget 2023 Live Updates
From Amrita Kal to pension to PAN, here are the Top 10 quotes by FM Sithraman:
"This is the first budget in Amrit Kaal, this budget hopes to build on the foundation laid in previous budget and the blueprint laid for India@100, we envision a prosperous and inclusive India in which the fruits of development reach all." "The world has recognized India as a bright star, our growth for current year is estimated at 7.0 percent, this is the highest among all major economies, in spite of massive global slowdown caused by pandemic and the war."
“The economic agenda focuses on facilitating opportunities, providing strong impetus to job creation & strengthening macroeconomic stability," says Finance Minister.
"Digital Public Infrastructure for Agriculture to be built as open source, open standard, interoperable public good. Will enable inclusive farmer-centric solutions & help improved access to farm inputs, market intel, support for agri industry, startups, says FM
Capital outlay of ₹2.40 lakh crore has been provided for Railways; This highest ever outlay is about nine times the outlay made in FY 2013-14.
To improve social-economic condition of the Particularly Tribal Groups, PMPBTG Development mission will be launched, to saturate PBTG habitations with basic facilities. ₹15,000 cr to be made available to implement scheme in next 3 years: FM Nirmala Sitharaman.
For business establishments required to have Permanent Account Number, PAN to be used as common identifier of all digital systems of specified govt. agencies, this will bring Ease of Doing Business.
Credit guarantee for MSMEs - ₹9000 crores infused in the corpus which will allow additional collateral-free credit of ₹2 lakh crores; to be effective from 1st April 2023: FM Sitharaman
One stop solution for reconciliation and updating of Identity and Address of individuals, maintained by various govt. entities, to be set up using DigiLocker services and Aadhaar as foundational identities. To enable more fintech services, scope of documents available on Digi Locker for individuals to be expanded, an entity DigiLocker will be set up for use by MSMEs, large businesses and charitable trusts for securely storing and sharing documents online.
"The maximum deposit limit for Senior Citizen Savings Scheme will be enhanced from ₹15 lakh to ₹30 lakh," the minister said in her 87-minute long speech. She also proposed that the maximum deposit limit for Monthly Income Account Scheme will be enhanced from ₹4.5 lakh to ₹9 lakh for a single account and from ₹9 lakh to ₹15 lakh for a joint account.
"I introduced in 2020, the new personal income tax regime with 6 income slabs, starting from ₹2.5 Lakhs. I propose to change the tax structure in this regime by reducing the number of slabs to 5 and increasing the tax exemption limit to ₹3 Lakhs," says FM Nirmala Sitharaman. “Personal Income Tax: "The new tax rates are 0 to ₹3 lakhs - nil, ₹3 to 6 lakhs - 5%, ₹6 to 9 Lakhs - 10%, ₹9 to 12 Lakhs - 15%, ₹12 to 15 Lakhs - 20% and above 15 Lakhs - 30%"
