Finance Minister Nirmala Sitharaman has presented the country’s general budget in the Parliament on Wednesday. Describing it as the blue print of the country’s next 25 years, the Finance Minister also made several announcements. The Finance Minister has made many announcements in the budget, which will also have a big impact on the common life. Now let us tell you what has become cheap and what has become expensive in this budget. Nirmala Sitharaman Budget 2023
New Delhi/Hyderabad: Nirmala Sitharaman presented the ninth budget of the Modi government. In this, he announced many big schemes. It has also been announced to remove many types of old charges. According to which, now the government will increase the contingency fee on cigarettes. At present, it has been decided to increase it by 16 percent. Due to which the prices of cigarettes will increase in the coming days. Apart from this, the Finance Minister said that to promote lab-made diamonds, customs duty will be exempted, due to which their prices will also fall. Let’s take a look at the things that have become cheap and expensive.
BUGDET 2023: Know what became cheaper
- toys
- bicycle
- automobile
- Indian made mobile
- electric vehicle
- LCD TV
- things related to biogas
BUGDET 2023: Know what became expensive
- chimneys
- exotic electric fireplace
- some mobile phones
- camera lens
- imported silver articles
- Cigarette
- gold, silver, platinum
Big change in tax slab: In the budget session 2014-15, the income tax exemption limit for taxpayers below 60 years was increased from Rs 2 lakh to Rs 2.5 lakh. At the same time, the exemption limit for senior citizens was increased from Rs 2.5 lakh to Rs 3 lakh. In 2019-2020, people with an annual income of up to Rs 5 lakh were exempted from income tax (section 87A), which was temporary. But now income tax will not have to be paid if the annual income is up to Rs 7 lakh. That is, income up to 7 lakhs is now tax free. Till now only income up to Rs 2.5 lakh was tax free. The last time changes were made in the income tax slabs in the 2014-15 budget. At the same time, the tax exemption given to new startups for 3 years has been retained.
Big announcements of Budget 2023: Union Finance Minister Nirmala Sitharaman has made several big announcements in view of the general elections in 2024 to live up to the expectations of the public. In the new system of personal income tax, exemption has been given on income up to seven lakh rupees. The agriculture credit target has been increased in this year’s budget. Fish farming has been promoted through PM Matsya Yojana, development in food and processing has been encouraged.
