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Union Budget 2023 Highlights: Nirmala Sitharaman Gifts Middle Class Income Tax Cuts, Announces Capex Of Rs 10 Lakh Crore

Budget 2023-24 was announced by Finance Minister Nirmala Sitharaman on Wednesday. The Budget called for rationalisation of tax slabs and enhanced capital expenditure for infra development.

Union Budget 2023 Highlights: Nirmala Sitharaman Gifts Middle Class Income Tax Cuts, Announces Capex Of Rs 10 Lakh Crore
Union Budget 2023-24

Finance Minister Nirmala Sitharaman in Union Budget 2023-24 announced rationalisation of income tax slabs in a move to provide relief to the middle class. At the same time, she hiked capital expenditure for infrastructure development by 33 per cent to Rs 10 lakh crore and enhanced outlay for railways to record Rs 2.4 lakh crore.

Here are key highlights of the Budget 2023-24

  • 02 Feb 2023 / 12:40 PM

  • 02 Feb 2023 / 12:40 PM

    Budget 2023 reactions

    Union Budget 2023 focuses on continuing the momentum towards a sustainable India. By earmarking green growth as one of the 7 key priorities, the Government has reaffirmed its commitment to decarbonization and creation of green jobs. The allocation of Rs. 35,000 Cr. for priority capital investment towards energy transition will help catalyze our Net Zero journey. Viability Gap Funding for battery storage projects, significant outlay for grid expansion for Renewable energy and the green credit programme to incentivize sustainable behavior are all very welcome and timely steps that will accelerate clean energy adoption. The PM PRANAM scheme will boost the usage of green ammonia for production of environment friendly fertilizers. - Rahul Munjal, Chairman & Managing Director, Hero Future Energies

  • 01 Feb 2023 / 5:29 PM

    Budget's Green Growth Agenda Gets Industry's Love

    It was very heartening to see that the Finance Minister listed ‘Green Growth’ as one of the seven priorities of her Budget. I would especially commend the Rs 35,000 crore earmarked for capital investments towards energy transition and net zero objectives as energy is the primary source of carbon emissions from India. The focus on green hydrogen, energy storage, waste management and mangrove plantation are all commendable. I also particularly liked the focus on natural farming as agriculture accounts for a huge part of the country's GHG footprint and changing habits in farming requires a sustained effort over a long period of time. - Ankit Jain, Co-founder and CEO, StepChange

  • 01 Feb 2023 / 5:26 PM

    Union Budget 2023-24 reactions

    The Union Budget 2023 is a bonanza for affordable housing, with the strategic decision to increase outlay for Pradhan Mantri Awas Yojana (PMAY) by 66%! This decision provides the much-needed impetus towards the vision of "Housing for all". Further, with a 33% increment in infrastructure outlay, the Government is facilitating economic growth through job creation and investments which have direct and indirect impact on the real-estate sector. It is also heartening to see that the government is maintaining its focus on furthering urbanization initiatives, especially with the outlay of INR 10,000 crores per annum for an Urban Infrastructure Development Fund (UIDF) for tier 2 and tier 3 cities. - Sudhir Pai, CEO, Magicbricks

  • 01 Feb 2023 / 5:06 PM

    Real estate sector gives thumbs up to Union Budget 2023-24

    We welcome the measures announced by Finance Minister Smt. Nirmala Sitharaman in the Union Budget 2023–24, which indirectly aims to boost the real estate sector's growth while also providing relief to consumers. The proposed increase in the income tax exemption limit to Rs 7 lakh will help boost real estate investment. This tax break will encourage homebuyers to invest more while simultaneously increasing revenue. Meeting the long-standing demand of the real estate sector, the cap deduction for capital gains on residential housing investment is set at INR 10 crore, which will undoubtedly benefit the real estate industry. As one of the important measures to support the market, there has been a 66% increase in the allocation to 79,000 crores in the Affordable Housing Fund (PMAY). - Nirav Dalal, Executive Vice President, Business Development and Chief Investment Officer, Shapoorji Pallonji Real Estate 

  • 01 Feb 2023 / 5:00 PM

    Budget 2023 reactions

    The personal tax regime revisions will result in a rise in disposable funds due to lower deductions. The proposed reduction in upper limit of tax on higher income groups is a relief, given the current maximum tax percentage in India is highest in the world. The emphasis on infrastructural development will aid the residential real estate sector at large as it will give an impetus to property launches. As development and construction increases keeping the environment in mind is crucial to ensure we are sustainable. The governments endeavour for clean energy and focus on encouraging green construction is a welcome move. - Ram Raheja, Managing Director, S Raheja Realty 

  • 01 Feb 2023 / 4:37 PM

    Markets react to Union Budget 2023-24, Adani Group stocks face the fall

    After Sensex ended flat and market witnessed massive fluctuations, the Adani Group stocks too, on a day when the Union Budget 2023-24 was announced, have crashed. In a major development, Credit Suisse has assigned zero lending value to Adani bonds. But what does it mean? Read here to know more.

  • 01 Feb 2023 / 4:23 PM

    Budget 2023 Live: Sitharaman addresses tax regime and fiscal consolidation

    In the post-Budget 2023 press conference, the Finance Minister Nirmala Sitharaman has addressed the points of the new/old tax regime and fiscal consolidation. She said - 

    • We want to make the new tax regime attractive enough for people to take it
    • Inflation has come down and that has borne result on fiscal consolidation; We have attended to it with all earnest on jobs and even they are happening on the ground
  • 01 Feb 2023 / 4:13 PM

    Budget is beautifully balanced: Finance Minister Sitharaman

  • 01 Feb 2023 / 4:13 PM

    Budget 2023-24: FM Nirmala Sitharaman addresses media

    In her post-Budget 2023 address, Finance Minister Nirmala Sitharaman has emphasised 4 points in this year's budget -

    • Empowering women
    • Emphasis on tourism 
    • PM Vikas - for all those who create soft power of India thorugh craftsmanship
    • Green growth
  • 01 Feb 2023 / 4:10 PM

    Union Budget 2023-24: 5 Big Changes Announced In Income Tax

    Union Minister of Finance Nirmala Sitharaman made a slew of announcements related to personal income tax in her Budget Speech in Parliament on February 1, 2023, with a major emphasis on the new tax regime. Overall, here are the 5 big changes announced this year!

  • 01 Feb 2023 / 3:56 PM

    New Tax Regime in Budget 2023: What happens to the old one?

    The biggest takeaway on the personal taxation front in Budget 2023 was the renewed impetus on the new tax regime. Out of the five tax relief measures that Union Minister of Finance Nirmala Sitharaman announced, four were meant specifically for the new tax regime. Here is all you need to know!

  • 01 Feb 2023 / 3:52 PM

    Union Budget 2023 reaction on Markets: Sensex ends flat

    Since the Union Budget 2023-24 announcements have caused much anticipated fluctuations in the market, the Sensex has ended nearly flat. In addition to this, the Adani Group stocks have come under special scanner for crashing towards the closing, especially after the Hindenburg Research report issue.

  • 01 Feb 2023 / 3:39 PM

    Budget 2023-24 reactions: Industry approves!

    Union Budget 2023 heralds good news for both industry and the common man. Honorable FM continues to focus on investments and policies keeping the USD 5 trillion economy ambition in line of sight. Balancing both the strategic and tactical announcements, this budget lays impetus on the seven  key priority areas. From investments in setting up CoE for AI in top universities, 100 labs for 5G applications, Rs 35,000 cr for energy transition to concessions on equipment for Lithium Ion cells. It is encouraging to see reduction in custom duties for inputs/parts of certain electronic items like lithium Ion batteries, TV, Camera Lens will improve the feasibility for enhancing backward integration and subsequently enabling local manufacturing of electronics. - Manish Sharma, Chairman, Panasonic Life Solutions India, Chair for the FICCI Committee on Electronics & Manufacturing

  • 01 Feb 2023 / 3:28 PM

    Union Budget 2023-24 Highlights

  • 01 Feb 2023 / 3:22 PM

    Budget 2023-24 & Markets: Adani Group shares crash

    Adani Group shares were in freefall on Wednesday, when Union Budget 2023 was released, after global brokerage firm Credit Suisse assigned zero lending value to its bond. Read the complete report here

  • 01 Feb 2023 / 3:12 PM

    Budget 2023 Announces Mahila Samman Scheme

    The one-time new small saving scheme will offer an interest rate of 7.5 per cent for a maximum deposit of Rs 2 lakh. The scheme will be available for years up to March 2025. (Details in the link shared here)

  • 01 Feb 2023 / 3:03 PM

    Arvind Kejriwal Slams Union Budget 2023-24, Refers To Residents Of Delhi

  • 01 Feb 2023 / 3:03 PM

    West Bengal CM Refutes Changes In Income Tax Slabs

  • 01 Feb 2023 / 2:47 PM

    Union Budget 2023-24 Live: Sitharaman lays out plan to empower SEBI

    To build capacity of functionaries and professionals in the securities market, the government on Wednesday proposed that SEBI will be allowed to develop, maintain and implement norms and standards for education in the National Institute of Securities Markets (NISM)

  • 01 Feb 2023 / 2:18 PM

    Union Budget 2023-24: PM Modi addresses the nation

    After the unveiling of the Union Budget 2023-24, Prime Minister Narendra Modi has started with his address to the nation. He highlighted the following things -

    • The Budget 2023 gives priority to the deprived.
    • This Budget will fulfill the dreams of villagers, middle class and the poor.
    • Government has taken steps for betterment of urban and rural women working as domestic help.
  • 01 Feb 2023 / 1:45 PM

    The Amrit Kaal Budget

  • 01 Feb 2023 / 1:42 PM

    Defence Minister Rajnath Singh reacts to Union Budget 2023

  • 01 Feb 2023 / 1:41 PM

    PM Vishwakarma Kaushal Samman gets thumbs up

    We thank the Hon’ble Finance Minister and the union government for acknowledging the contribution of artisans and craftsmen to the economy and driving recognition for the country. As a platform that celebrates, amplifies, and elevates the craftsmanship of Indian artisans through technology & storytelling, we at Peepul Tree welcome the proposed package announced - as part of PM Vishwakarma Kaushal Samman - to empower the artisan community, and believe that this is a major boost for enabling the discovery of India’s rich cultural heritage. - Mini Menon, Co-founder, Peepul Tree and Live History India

  • 01 Feb 2023 / 1:39 PM

    Budget 2023-24 Live: Outlay for energy transition a new step

    Finance minister Nirmala Sitharaman on Wednesday provided an outlay of Rs 35,000 crore to achieve energy transition and net zero objectives and listed green growth among seven priorities of the government. Read complete report here

  • 01 Feb 2023 / 1:33 PM

    Edtech gets happy with Union Budget 2023-24

    Union budget 2023-24 reflects that the government is profoundly interested in bringing a digital revolution in the education sector and promoting the use of artificial intelligence in education. We are glad that the government’s new budget is in line with India’s ed-tech sector. With the government’s announcement of establishing a National Digital Library for children and adolescents, the ed-tech sector will definitely get a boost; it will create a digital ecosystem in the education sector and encourage digital education. It will largely benefit the students who are lagging behind due to the pandemic. - Aarul Malviya, Founder, Zamit

  • 01 Feb 2023 / 1:29 PM

    This budget is a Bahubali budget. With one arrow multiple targets are shot. fiscal prudence is achieved with lower deficit and path set till FY 26. Consumption is supported through tax cuts. Investment outlay is enhanced. No’s are realistic or conservative to enhance the credibility. The budget could have focussed more on asset monetisation but that can be pursued otherwise also depending upon market conditions. - Nilesh Shah, MD, Kotak AMC

  • 01 Feb 2023 / 1:26 PM

    Budget 2023-24 reactions

    The efforts to bring the ureached or last mile segment to mainstream and their proposed development is important and will have positive ramifications for the Microfinance sector. Sa-Dhan had also been requesting to the Government for some initiatives to expand credit to less credit penetrated areas and to ultra poor. I feel the initiatives announced by the Govt through budget will help achieving this. Microfiannce can align with the Government initiatives and help in supporting this vulnerable section by extending credit facilities. - Jiji Mammen, ED & CEO - Sa-Dhan

  • 01 Feb 2023 / 1:19 PM

    Budget 2023-24 Gives Tourism A Boost

    • 'Dekho Apna Desh' initiative to be launched to promote domestic tourism
    • 50 tourist destinations will be selected through challenge mode to be developed as a whole package for domestic and international tourism: FM Nirmala Sitharaman
  • 01 Feb 2023 / 1:17 PM

    Union Budget 2023-24 reactions

    The expansion of Digilocker services will be a boon for the fintech sector - further facilitating seamless and low-cost access to authentic information about consumers.  This will allow fintechs to increase segment coverage, reduce turn-around-times and offer cost savings which can be passed onto consumers. - Aditya Kumar, CEO and Co-founder, Niro

  • 01 Feb 2023 / 1:04 PM

    Union Budget 2023-24 Highlights as per FM's speech

    Union Budget for 2023-24 will focus on economic growth and job creation, Finance Minister Nirmala Sitharaman  said on Wednesday while presenting budget ahead general elections next year. Here are the key highlights of the Union Budget 2023

  • 01 Feb 2023 / 1:01 PM

    Budget 2023-24 Gift to the middle class - Explained

    Union Finance Minister Nirmala Sitharaman, while presenting Budget for 2023-24, announced income tax cuts and also introduced new income tax slabs in a move to provide relief to middle class. - Read here!

  • 01 Feb 2023 / 12:51 PM

    Union Budget 2023-24: Surcharge rate reduced

    The government has proposed to reduce the highest surcharge rate from 37% to 25% under new tax regime - FM Nirmala Sitharaman

  • 01 Feb 2023 / 12:43 PM

    Markets React To A Fulfilling Budget 2023

    Just as the Finance Minister's Budget 2023-24 speech has ended, markets have reacted and become somewhat green. As per updates, Sensex has zoomed over 1,000 points and Nifty has neared 18,000 mark.

  • 01 Feb 2023 / 12:41 PM

    New Income Tax Slabs

    No Tax For Those Earning Upto 7L 
     

    • 0-3 lakhs - NIL
    • 3-6 lakhs - 5 per cent
    • 6-9 lakhs - 10 per cent
    • 9-12 lakh - 15 per cent
    • 12-15 lakh - 20 per cent
    • Above 15 lakh - 30 per cent
  • 01 Feb 2023 / 12:28 PM

    Union Budget 2023-24 Live: New Income Tax Regime = Default Income Tax Regime

    In her Budget 2023-24 speech, Finance Minister Nirmala Sitharaman has announced that the new income tax regime will become the default income tax regime. However, if someone wants to still opt for the old one, they can avail the benefit

  • 01 Feb 2023 / 12:24 PM

    BREAKING: No Income Tax Up to Rs 7 lakh!

    The proposal under the new income tax regime has come as a big relief to the common person!

  • 01 Feb 2023 / 12:23 PM

    Union Budget 2023-24 BREAKING - Common person pockets full!

    New Tax Regime - Tax exemption upto Rs 7 lakh/year!

  • 01 Feb 2023 / 12:19 PM

    Budget 2023 Makes Cigarettes Expensive!

    After this Union Budget 2023-24, ciggarettes will get costlier as the government has proposed a 16% hike in the duty.

  • 01 Feb 2023 / 12:18 PM

    Union Budget 2023-24 goes AI driven!

     India’s finance minister Nirmala Sitharaman announced that three centres for excellence on artificial intelligence (AI) would be set up in the top educational institutions. Read complete report on the new AI initiatives here!

  • 01 Feb 2023 / 12:16 PM

    Budget 2023 BREAKING - Tax return filing becomes easy!

    Government plans to roll out next-gen IT return form and a better grievance redressal system to further improve the tax return filing process.

  • 01 Feb 2023 / 12:11 PM

    Union Budget 2023-24 Live: Special benefits for smartphone manufacturing

    Smartphone manufacturing: Government announces relief on customs duty on import of certain parts such as camera lens; also to continue concessional duty on lithium-ion cells.

  • 01 Feb 2023 / 12:09 PM

    Budget 2023-24 Live: Finance Minister fixes Fiscal Deficit target

    Fiscal deficit expected to be 5.9 per cent of GDP for FY24. Finance Minister reiterates the government’s commitment to bring down fiscal deficit to 4.5 per cent of GDP by 2025-26. In a nutshell,

    • Government sticks to fiscal deficit target of 6.4% of GDP current fiscal
    • Net tax receipts expected at 23.3 lakh crore
    • Fiscal deficit expected 5.9% of GDP for 2023-24
  • 01 Feb 2023 / 12:04 PM

    Union Budget 2023-24 Live

    PM Kaushal Vikas Yojana 4.0 will be launched for the youth to gain opportunities. Additionally, 30 Skill India International Centers will be established across different states - FM Nirmala Sitharaman

  • 01 Feb 2023 / 12:03 PM

    Union Budget 2023-24 on 5G Services

    100 labs for developing applications for 5G services will be set up in engineering institutions: FM Nirmala Sitharaman

  • 01 Feb 2023 / 12:00 PM

    Union Budget 2023-24 Live: National Green Hydrogen Mission Gets More!

    To reduce the dependency on the fossil fuel and to reduce the carbon intensity National Green Hydrogen will be launched with an outlay of Rs 19,700 crore. The target is to have 5 MMT annual production by 2030. The budget will provide the 35000 crore capital investment towards energy transition and net zero objective and energy security by the Ministry of petroleum and natural gas.

  • 01 Feb 2023 / 11:57 AM

    Union Budget 2023-24 Live: PAN gets special attention

    In the Budget 2023 presentation at the Parliament on Wednesday, Union Finance Minister Nirmala Sitharaman announced that Permanent Account Number (PAN) card can be a single common identifier for digital transactions. Read complete report here 

  • 01 Feb 2023 / 11:55 AM

    Union Budget 2023-24 Goes Green!

    Keeping 'green growth' as a priority in this budget, Finance Minister Nirmala Sitharaman said, "We are implementing many programmes for green growth across various economic sectors…They will help reduce carbon intensity and create green jobs."

  • 01 Feb 2023 / 11:51 AM

    Budget 2023-24 BREAKING!

    MSMEs To Get 95% Of Forfeited Amount For Contract Failure During Covid-19!

  • 01 Feb 2023 / 11:50 AM

    Union Budget 2023-24 gets AI driven!

    3 centres of excellence for Artificial Intelligence will be set-up in top institutions - FM Nirmala Sitharaman in her Budget 2023 speech

  • 01 Feb 2023 / 11:48 AM

    Budget 2023-24 Live on DigiLocker

    An enitity digi locker will be set up for the use of MSME, large business and charitable trust to store and share document online securely to regulators bank and other business entities - Finance Minister Nirmala Sitharaman

  • 01 Feb 2023 / 11:45 AM

    Union Budget 2023-24 Gives Free Food Scheme

    Finance Minister Nirmala SItharaman while announcing Union Budget for 2023-24 said that the government has extended the free food scheme to next year and the centre will borne the expense of Rs 2 lakh crore for the same under PM Garib Kalyan Yojana. Read complete details on the new scheme here

  • 01 Feb 2023 / 11:41 AM

    Budget 2023 Live: Govt goes big on PAN, KYC & Others

    Finance Minister Nirmala Sitharaman has made the following big announcements in her Budget 2023 speech -

    • National Data Governance Policy will be brought out. Among other things, this will enable access to anonymised data. 
    • KYC will be simplified. Financial regulators will be encouraged to have KYC system fully amenable to meet the needs of Digital India.
    • PAN card will be single common identifier for all financial transactions.
  • 01 Feb 2023 / 11:38 AM

    Agritech Budget 2023 Goes Big!

    IN HER BUDGET speech, Finance Minister Nirmala Sitharaman announced that the government would set up an agricultural-accelerated fund to encourage entrepreneurship in the agritech field. Read the complete reforms for Agritech here

  • 01 Feb 2023 / 11:35 AM

    Budget 2023 Live Updates

    To improve the quality, scale and reach of the products of artisans and craftspeople PM Vishwa Karma Kaushal Samman will be launched - Finance Minister Nirmala Sitharaman in her Budget 2023 speech

  • 01 Feb 2023 / 11:34 AM

    BREAKING: Railways get big chunk in Budget 2023-24

    Government announces Rs 2.40 lakh crore capital outlay; this is 9 times the outlay announced in 2013-14. Similar to industry expectations, the Railway outlay has come at a whopping amount

  • 01 Feb 2023 / 11:33 AM

    Budget 2023 Live: Sitharaman announces India [email protected] plan

    Finance Minister Nirmala Sitharaman on Wednesday said the Budget for 2023-24 hopes to build on the foundation of the previous budget and blue print for [email protected]

  • 01 Feb 2023 / 11:31 AM

    Union Budget 2023 Live: Education Sector Highlights

    For the Education Budget 2023 or the Education sector, Finance Minister Nirmala Sitharaman said the following things -

    • States Will Be Encouraged To Set Up Physical Libraries At Panchayat and Ward Levels
    • National Book Trust, Children Book Trust will be encouraged to include non-curricular titles in regional languages and English.
    • National Digital Library to be set up for children
  • 01 Feb 2023 / 11:26 AM

    Budget 2023-24 Live & Markets: Tourism Sector Shares Gain After FM's speech

    There is large potential to be tapped in tourism; promotion of tourism to be taken up in mission mode, FM Sitharaman said while presenting Budget.

    • Indian Hotels gains 6.52%
    • EIH up 4.68%
    • Chalet Hotels up 2.3%
    • Lemon Tree Hotel up 3%
    • Oriental Hotels up 2.5%
  • 01 Feb 2023 / 11:24 AM

    Budget 2023 Live Updates: Major initiatives announced for Health sector

    In her Budget 2023 speech, Finance Minister Nirmala Sitharaman has said the following major things - 

    • Mission to eliminate sickle cell anemia by 2047 will be launched.
    • Health, Education and Skilling: 157 new nursing colleges to be established in core locations with existing 157 medical colleges established since 2014
    • Dedicated multidisciplinary centres for medical devices will be supported in existing institutions to develop futuristic medical technologies, innovation and research.
  • 01 Feb 2023 / 11:21 AM

    Union Budget 2023-24 Live

    The Agricultural Credit Target will be increased to Rs 20 lakh crores with focus of animal husbandry, dairy and fisheries - FM Sitharaman

    An 'Agriculture Accelerator Fund' will be set up to encourage agri-startups by young entrepreneurs - FM Sitharaman in her Budget 2023 speech

  • 01 Feb 2023 / 11:19 AM

    BREAKING Budget 2023-24 Live: Agriculture sector

    Indian Insitute of Millet Research will be supported as an ‘Institute of Eminence’ - FM Nirmala Sitharaman

  • 01 Feb 2023 / 11:17 AM

    ‘Saptarishi’ guiding us through Amrit Kaal: Sitharaman in Budget 2023 speech

  • 01 Feb 2023 / 11:16 AM

    Budget 2023 focuses on 7 priorities: Finance Minister Nirmala Sitharaman

    7 priorities of this Budget as per Finance Minister's Budget speech are: 

    • Inclusive development
    • Reaching the last mile
    • Infrastructure and investment
    • Unleashing potential 
    • Green growth 
    • Youth power
    • finan sector
  • 01 Feb 2023 / 11:13 AM

    Union Budget 2023-24 Live: Sitharaman raises points on India's growth

    Our growth for current year is estimated at 7.0%, this is the highest among all major economies, in spite of massive global slowdown caused by pandemic and the war - Finance Minister Nirmala Sitharaman

  • 01 Feb 2023 / 11:10 AM

    Union Budget 2023 & Markets Live

    Sensex surges over 600 points, Nifty firm above 17,800 as Finance Minister Nirmala Sitharaman presents Union Budget 2023-24

  • 01 Feb 2023 / 11:09 AM

    Union Budget 2023 Live

    Implementing free food scheme for next year, centre to borne entire expenditure of Rs 2 lakh crore, says Sitharaman

  • 01 Feb 2023 / 11:07 AM

    Budget 2023 Live Updates

    Finance Minister Nirmala Sitharaman in her Budget 2023 speech says, "The per capita income has more than doubled to more 1.97 lakh crore."

  • 01 Feb 2023 / 11:06 AM

    Indian Economy On The Right Track, Heading Towards A Bright Future: Sitharaman

    Indian Economy On The Right Track, Heading Towards A Bright Future - Union Finance Minister Nirmala Sitharaman in her Budget 2023 speech.

    Even on January 31, 2023 when the Economic Survey was released, it was asserted that the Indian Economy is on the right track and that, there is a bright future.

  • 01 Feb 2023 / 11:04 AM

    Budget 2023 Live: FM raises fast COVID vaccination drive

    In her Budget 2023 speech, FM Sitharaman has said that the fast COVID vaccination drive has been a proud moment for the country.

  • 01 Feb 2023 / 11:02 AM

    Budget 2023 Live: FM's speech lays down hopes

    This is the first budget in Amrit Kaal budget hopes to build on foundation laid in previous Budgets - Finance Minister Nirmala Sitharaman in her Budget 2023 speech

  • 01 Feb 2023 / 11:01 AM

    Union Budget 2023 Live: FM's peech begins

    The Union Budget 2023 speech by the Finance Minister Nirmala Sitharaman has started in the Parliament.

  • 01 Feb 2023 / 10:49 AM

    Budget 2023 Live: Cabinet approves Budget

    The Union Budget 2023-24 has been approved by the Cabinet now. Within 10 minutes, the Finance Minister's Budget speech will begin, at 11 am.

  • 01 Feb 2023 / 10:45 AM

    Budget 2023 Copies arrive in the Parliament

    Ahead of the FM Sitharaman's Budget 2023 speech, the budget copies have arrived in the Parliament. Since it's a paperless budget, everyone is again looking at it, especially in digital form.

  • 01 Feb 2023 / 10:22 AM

    Budget 2023 Live: Cabinet meeting updates

    Before the final presentation, the budget will be approved by the cabinet headed by Prime Minister Narendra Modi. Unlike the previous budget sessions, this year no document has been printed due to the COVID-19 protocol. Additionally, the budget copies will be distributed electronically through the government website along with its special app developed for the same.

  • 01 Feb 2023 / 10:19 AM

    Union Budget 2023 Live: PM Modi arrives at the Parliament

    Ahead of the Union Budget 2023-24 speech, PM Modi has arrived at the Parliament.

     

  • 01 Feb 2023 / 10:18 AM

    Budget 2023 Live: Fertiliser Shares Surge On Hopes Of Enhanced Urea Subsidy

    Shares of fertiliser makers were trading higher on hopes of enhanced urea subsidiary in Budget 2023-24.

    • GNFC gains 4.34%
    • Coromandel International rises 4.26%
    • Chambal Fertilisers up 8%
    • Tata Chemicals gains 1.88%
    • Rashtriya Chemicals up 6.73%
    • Deepak Fertilisers up 5.8%
  • 01 Feb 2023 / 10:14 AM

    Defence Shares Gain On Hopes Of Enhanced Spending On Defence Sector

    Shares of defence equipment makers were trading higher on hopes of higher defence spending.

    • Astra Micro up 6.6%
    • Bharat Dynamics up 3.82%
    • Paras Defence up 3.42%
    • Zen Technologies up 0.62%
    • BEML up 1.77%
    • Bharat Electronics up 1%
    • Hindustan Aeronautics up 1%
       
  • 01 Feb 2023 / 9:46 AM

    Budget 2023 Market Impact Live: Railway Shares Gain

    Railway shares were trading higher ahead of the presentation of the Union Budget 2023-24.

    • IRCTC up 0.72%
    • IRFC up 1.66%
    • Titagarh Wagons up 0.33%
    • Rail Vikas Nigam up 3.22%
  • 01 Feb 2023 / 9:38 AM

    Union Budget 2023 Expectations Live: Healthtech wants some ease

    Lack of adequate infrastructure and funding directly impacts the effectiveness of healthtech start-ups in delivering services. These entities also need help accessing venture capital and other sources of funding. Here are the key demands of the healthtech sector from the Union Budget 2023.

  • 01 Feb 2023 / 9:27 AM

    Union Budget Live: Nifty Near 17,800, Sensex Surges 400 Points Ahead Of Budget 2023-24

    The Indian equity benchmarks surged on Wednesday ahead of presentation of Union Budget 2023-24 by Finance Minister Nirmala Sitharaman. The Sensex rose as much as 517 points and Nifty 50 index briefly reclaimed its important psychological level of 17,800. Complete report along with real time updates on the Indian stock market alongside the Union Budget announcement here.

  • 01 Feb 2023 / 9:14 AM

    Union Budget 2023 Expectations Live: Rationalisation of capital gains tax

    As common as it may sound to stakeholders, in the last few years, the capital gains tax regime has garnered a lot of attention, sometimes even for the wrong reasons. This time as well, in the Budget 2023, industry leaders and experts have tied their hopes on the rationalisation of capital gains tax regime. Read complete report here

  • 01 Feb 2023 / 9:14 AM

    Budget 2023 Live Updates

  • 01 Feb 2023 / 9:10 AM

    Union Budget 2023 Speech Live: Sitharaman reaches Parliament

    Ahead of her speech on the Union Budget 2023-24, Finance Minister has reached the Parliament with the bahi khata. Soon, at 10 am, the cabinet meeting will begin followed by the FM's speech at 11 am.

  • 01 Feb 2023 / 9:09 AM

    Budget 2023 Expectations Live: Income tax slabs

    As far as the common person is concerned, tweaks in income tax slabs are among the hottest demands from this Union Budget 2023. It must be noted that contrary to the speculation, the Budget 2022 did not give any tweaks in the income tax slabs.

  • 01 Feb 2023 / 9:07 AM

    Union Budget 2023 Live: Nifty Likely To Witness Volatile Move Due To Budget

    Ahead of the Union Budget 2023, Nifty is expected  to open gap up and likely to witness volatile move during the day, brokerage firm Nirmal Bang said in a report. 

    "On technical grounds, Nifty has an immediate resistance at 17750. If Nifty closes above that, further upside can be expected towards 17,870-18,000 mark. On the flip side 17,550-17,440 will act as strong support levels," the brokerage said.

  • 01 Feb 2023 / 9:02 AM

    Union Budget 2023-24 Live: Sitharaman leaves for Parliament

    Ahead of her Budget 2023 speech, the Finance Minister Nirmala Sitharaman has left for the Parliament along with the budget bahi khata. With just 2 hours left, all eyes are now on the biggest financial event of the year.

  • 01 Feb 2023 / 9:02 AM

    Budget 2023 Live Update: Cabinet Meet at 10 am

    Ahead of the Union Budget 2023-24 speech at 11 am, Finance Minister Nirmala Sitharaman is headed to meet the President of India, Droupadi Murmu. Following this, the cabinet meet is scheduled to begin at 10 am.

  • 01 Feb 2023 / 8:57 AM

    Union Budget 2023 Live in 2 hours

    The Union Budget 2023-24 speech by Finance Minister Nirmala Sitharaman will go live in 2 hours, at 11 am. This time, as per PM Narendra Modi, not just the citizens of India but the entire world will be looking at India's Union Budget.

  • 01 Feb 2023 / 8:33 AM

    January GST Collections Surge To Second Highest Level Of Rs 1.55 Lakh Crore Ahead Of Budget

    The GST collection in January surged to over Rs 1.55 lakh crore, the second highest-ever mop-up, the finance ministry said on Tuesday.  

    "The gross GST revenue collected in the month of January 2023 till 5:00 PM on 31.01.2023 is Rs 1,55,922 crore of which CGST is Rs 28,963 crore, SGST is Rs 36,730 crore, IGST is Rs 79,599 crore (including Rs 37,118 crore collected on import of goods) and cess is Rs 10,630 crore (including Rs  768 crore collected on import of goods)," the ministry said in a statement.

    The revenues in the current financial year up to January 2023 are 24 per cent higher than the GST revenues during the same period last year.

  • 01 Feb 2023 / 8:26 AM

    Income Tax Sops, Fiscal Consolidation Tight Rope Walk For Finance Minister Nirmala Sitharaman

    Finance Minister Nirmala Sitharaman will have to do a tight-rope walk between staying fiscally prudent and general public expectations of lower taxes and a wider social security net, while at the same time firing the engines of the economy before general elections.

    Sitharaman will on Wednesday present her fifth straight budget at a time when the economy is slowing due to global headwinds and specific sectors need attention.

    In the run-up to the Budget presentation, expectations are rife that she may tweak income-tax slabs to provide relief to the middle class and increase spending on the poor through programmes such as the rural job scheme while ramping up financial incentives for local manufacturing.

  • 01 Feb 2023 / 8:21 AM

    Budget 2023-24 Needs To Be Growth-Oriented In line With Economic Outlook Of India: US Advocacy Group

    This year's annual budget needs to be a growth-oriented one in line with the country's economic outlook, a top American India-centric strategic and business advocacy group said Tuesday.

    The previous budgets were focused on pandemic recovery. 

    This current budget needs to be a growth-oriented budget in line with India's economic outlook, said Mukesh Aghi, president of the US India Strategic and Partnership Forum.

    As the chair of the G20, India is one of the fastest-growing economies, a beacon of economic hope as other G20 economies face global headwinds, he noted.

    India assumed the Presidency of the G20 for one year from December 1, 2022, to November 30, 2023.

  • 01 Feb 2023 / 8:03 AM

    Sensex, Nifty Set To Open Higher Ahead Of Budget 2023-24

    The Indian equity benchmarks are set to open higher ahead of Union Budget 2023-24 presentation by Finance Minister Nirmala Sitharaman as indicated by the Nifty Futures traded on Singapore Exchange.

    The SGX Nifty Futures rose 0.6 per cent or 100 points to 17,852 indicating a gap up opening ahead of the Union Budget.
     

  • 01 Feb 2023 / 7:39 AM

    Budget Session 2023 Live: Important dates

    The Parliamentary Budget session 2023 started on January 31, 2023 and wil conclude on April 6, 2023. During this time, the first session will conclude on February 13 and for the second session, the Parliament will reconvene on March 12, 2023.

  • 01 Feb 2023 / 7:25 AM

    Union Budget 2023 Expectations Live: Income Tax Slabs

    In this year's Budget or in the Union Budget 2023-24, the common person is expecting some relief in the income tax slabs. While more would only be known after 11 am, this budget is being seeing crucial for the common person as in the last two, no changes in the income tax slabs was brought in.

  • 01 Feb 2023 / 7:11 AM

    Budget 2023 Live: RBI Repo rate updates next week

    The Reuters poll results suggest that the RBI may hike repo rate to 6.50 per cent at the Monetary Policy Committee (MPC) meeting scheduled to be held one week after the Budget 2023.

  • 01 Feb 2023 / 6:58 AM

    Union Budget 2023 Live: Here is what to expect

    While what exactly is rolled out this year will only be known after the Budget speech, expectations are rife across sectors, especially with regards to income tax slabs, subsidies, mental health, technology, the Railway budget and so on. Here is all that you can expect in the Union Biudget 2023-24.

  • 01 Feb 2023 / 6:47 AM

    Budget 2023-24 Live: Economic Survey on Inflationary Pressures

    Ahead of the Budget 2023, the Economic Survey 2022-23 observes that India’s inflation challenge in FY24 would be less stiff than what it has been this year and that India’s inflation management has been better compared to that of advanced economies that are still grappling with sticky inflation rates. 

  • 01 Feb 2023 / 6:35 AM

    Union Budget 2023 Live by Finance Ministry

  • 01 Feb 2023 / 6:32 AM

    Budget 2023 Live: Last full Budget before elections

    This Union Budget 2023-24 will also be the last full Budget presentation before the next general elections in 2024. Hence, considering this to be strategically important, many experts believe that major changes may be introduced in this Budget.

  • 01 Feb 2023 / 6:14 AM

    Union Budget 2023-24 Live: Economic Survey tabled

    Ahead of the announcement of the Union Budget 2023-24, the Economic Survey was tabled in the Parliament on January 31, 2023 by the Finance Minister Nirmala Sitharaman. Considered to be an important document highlighting the economic picture of the country, the Economic Survey showed India with a bright future.

  • 01 Feb 2023 / 6:08 AM

    Budget 2023 Live: Date, Time

    The most asked question - 'Budget 2023 Date and Time' is also here. For those unversed, the Union Budget will be presented today, on February 1, 2023 at 11 am by the Finance Minister Nirmala Sitharaman.

  • 01 Feb 2023 / 6:08 AM

    Union Budget 2023-24 Live: Adani vs Hindenburg

    Just as the run up-to the biggest financial event of the country, the Union Budget 2023-24 was on, the Adani vs Hindenburg issue had stirred the market and many had raised their concerns over the same. However, since the Budget is a standalone financial event in its own, it will be presented as smoothly as one can today.

  • 01 Feb 2023 / 6:08 AM

    Budget 2023-24 Live: Where to watch?

    The Union Budget 2023-24 live or Nirmala Sitharaman's speech will be telecasted by all major media houses. Apart from this, everyone can check the official Twitter and YouTube handles of the Finance Ministry of India and PIB.

  • 01 Feb 2023 / 6:08 AM

    Union Budget 2023-24 Live: FM Sitharaman's speech at 11

    The Union Budget 2023-24 will be presented today, on February 1, 2023 by Finance Minister Nirmala Sitharaman. Just a day after the Economic Survey, FM Sitharaman's Budget speech will begin at 11 am and will be her 5th Budget speech.

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