FM lists 7 Budget priorities: Tax slab changes; middle class focus; Rlys boost
Deccan ChronicleNew Delhi: Putting more money in the hands of the middle class as well as salaried individuals to boost taxpayers in India, finance minister Nirmala Sitharaman on Wednesday announced her Budget 2023-24, saying that the Indian economy was on the right path and heading towards a bright future as economic growth is estimated at nearly seven per cent, the highest among all major economies. Amid the shaky global economy, Sitharaman’s fifth straight Budget Reacting to 2023-24 Budget, Prime Minister Narendra Modi called it the first Budget of “Amrit Kaal” that provides a “foundation to fulfil, resolve for a developed India” and also gives priority to the deprived, and will fulfil the dreams of India’s aspirational society, farmers, and the middle class, among others. In her Budget, the fiscal policy statement highlighted that there was a total expenditure of Rs 45.03 lakh crores in 2023-24, which has been increased by 7.5 per cent over the last Budget of 2022-23. Besides, the deposit limit for senior citizens’ savings schemes has also been doubled to Rs 30 lakhs and for monthly income account scheme to Rs 9 lakhs, and there will be a new small savings scheme for women, offering 7.5 per cent interest rate on deposits of up to Rs 2 lakhs for a tenure of up to two years,” she said.