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India's First 'Amrit Kaal' Budget, BJP Govt Overhauls Tax Regime |Big Push In Infra, Agri & Railways
Posted
February 1, 2023
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Feb 1, 20238:05Now PlayingOn Wednesday, Union Finance Minister Nirmala Sitharaman began her budget speech by dubbing it "the first budget of Amrit Kaal". Throughout her speech, she used the phrase "Amrit Kaal" several times. "Our vision for the 'Amrit Kaal' includes a technology-driven and knowledge-based economy, with strong public finances and a thriving banking sector. To achieve this jan-bhaagidari (public engagement), "sabka saath, sabka prayas" (all-out effort) is required," Sitharaman remarked. In terms of tax plans, one of the primary proposals is the rationalisation of tax rates and slabs under the new tax regime, which will undoubtedly delight salaried professionals who will have more cash in hand. The reduction of the surcharge from 37% to 25% for taxpayers with incomes over INR 5 crores and the adoption of a new tax regime would provide some relief to High Net Worth persons.
#UnionBudget2023 #FinanceMinister #NirmalaSitharaman #NDA #PMModi
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