Union Budget announced by FM Nirmala Sitharaman

Union Budget announced by FM Nirmala Sitharaman

Daily Current Affairs   /   Union Budget announced by FM Nirmala Sitharaman

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Category : Business and economics Published on: February 03 2023

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  • Finance Minister Nirmala Sitharaman on Wednesday presented the Union Budget 2023, the last Budget of Modi 2.0 before General Elections 2024. 
  • This is the first budget of the "Amrit Kaal", she said during her speech.
  • The growth of the country at 7 per cent in FY23 will be the highest among all the major economies in the world.
  • The government sweetened the new income tax regime by making income of up to ₹3 lakh exempt from income tax. With a rebate, now people earning up to ₹7 lakh need not pay any income tax.
  • The FM also simplified the tax structure and called it the "default income tax regime".
  • The year 2023 has been declared as the international year of millets.
  • The Budget 2023 focuses on seven priorities, which the FM called the “Saptrishis guiding us through Amrit Kaal”.
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