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budget 2023 Budget 2023
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Budget Highlights

  • Unfortunate to reduce education budget from 2.64% to 2.5%: Arvind Kejriwal
  • There is no relief from inflation in this budget. On the contrary, this budget will increase inflation: Arvind Kejriwal
  • Govt has taken several steps to make the lives of women, in rural & urban areas, easy: PM Modi
  • This budget is for a sustainable future further encouraging green energy, green growth, green infrastructure, and green jobs: PM Modi
  • Our Govt has taken several steps to empower the middle class and ensure ease of living: PM Modi
  • No Income Tax for those earning upto Rs 7 lakh under new tax regime
  • Personal Income Tax: Rebate increased to Rs 7 lakh
  • Professionals with Rs 75 lakh annual income to get tax rebate
  • Lower tax rate of 15% for new co-operatives
  • Cigarette to cost more
  • Plan to roll out next generation IT return form: Nirmala Sitharaman
  • Electrical Vehicles, mobile phones likely to cost less as excise duty reduced in Budget 2023-24
  • Fiscal deficit 6.4% of total GDP, intention to bring it below 5.9% in 2024-25: Nirmala Sitharaman
  • Mahila Bachat Patra - new saving scheme for women to be launched
  • Rs 9000 crore corpus for MSME credit, announces FM Sitharaman
  • Priority to focus on developing tourism: Nirmala Sitharaman
  • Old govt vehicles, ambulances to be replaced under Vehicle Scrapping Policy
  • Rs 10,000 allocated crore for Govardhan Scheme
  • PM Pranam to be launched to promote alternative fertilizers and balanced use of fertilizers
  • Priority for green growth, goal of zero carbon emission by 2070, says Sitharaman
  • Outlay of Rs 19,700 crore for green growth: FM Sitharaman
  • 100 labs to be set up for 5G services app: FM
  • Fintech enabled services to be expanded: FM Nirmala Sitharaman
  • Vivad Se Vishwas Scheme Act for MSMEs: Sitharaman
  • PAN to be used as common identifier for digitisation
  • Capital outlay of Rs 2.04 lakh crore for provided for Railways: Sithraman
  • PM Awas Yojana being enhanced by 66% to Rs 79,000 crore
  • 50 additional airports, heliports to be revived for improving regional connectivity: Sitharaman
  • 38,800 teachers and support staff to be hired for Eklavya Model School: FM Nirmala Sitharaman
  • PVTG Development Mission to be launched: Sitharaman
  • Mission to eliminate sickle cell anaemia will be launched: Sitharaman
  • 157 new nursing colleges to be established: FM
  • Agri credit target to be hiked to Rs 20 lakh crore: Nirmala Sitharaman
  • New sub-scheme with targeted investment of Rs 6,000 cr to further boost activities of fishermen: Sitharaman
  • India largest exporter of millets: FM Sitharaman
  • Aim to make India global hub for millets: Sitharaman
  • Per capita income has doubled, says FM Sitharaman as she tables Budget 2023-24
  • Our growth highest among world's biggest economies: Nirmala Sitharaman
  • During Covid pandemic we ensured no one goes to bed hungry: Nirmala Sitharaman
  • Our focus is on wide ranging reforms: FM Sitharaman
  • World has recognised Indian economy as a bright star: FM Sitharaman
  • Fruits of development will reach all: Sitharaman
  • This is the first budget in Amrit Kaal: Sitharaman
  • Nirmala Sitharaman presents Budget 2023-24 in Parliament
  • Lok Sabha Speaker Om Birla arrives, proceedings begin
  • Finance Minister Nirmala Sitharaman to present Union Budget 2023 in Parliament shortly
  • Budget documents brought inside Parliament complex
  • Union Cabinet approves Budget 2023, FM Sitharaman to table it in Parliament shortly
  • Cabinet meeting begins in Parliament ahead of Union Budget 2023
  • Rupee rises 10 paise to 81.78 against US dollar in early trade ahead of Union Budget 2023
  • Prime Minister Narendra Modi reaches Parliament
  • Nirmala Sitharaman reaches Parliament, Cabinet meeting shortly
  • Finance Minister Nirmala Sitharaman meets President Droupadi Murmu
  • Ahead of Budget 2023, markets open in green; Sensex up 347 points, Nifty 106 points
  • Finance Minister Nirmala Sitharaman shows the red tablet containing her budget speech
  • Finance Minister Nirmala Sitharaman reaches Finance Ministry
  • Modi govt has always worked in the favour of the people of the country: MoS Finance Pankaj Chaudhary
  • Union Budget2023 will meet the expectations of every section of society: MoS Finance Pankaj Chaudhary
  • MoS Finance Dr Bhagwat Kishanrao Karad offers prayers ahead of the presentation of Union Budget 2023
  • Paperless budget: The budget can be accessed via a ‘Union Budget Mobile App’ available on Google Play for Android devices and the Apple App Store for
  • Budget 2023 to be presented in paperless form: Finance ministry
  • Finance Minister Nirmala Sitharaman set to present her 5th budget in Parliament at 11 AM - LIVE UPDATES
  • Economic Survey presents a comprehensive analysis of India's growth trajectory including the global optimism towards our nation: PM Modi
  • 'Nothing new' in President Droupadi Murmu's address to the joint sitting of Parliament, says Congress president Mallikarjun Kharge
  • Green hydrogen will be crucial for India's economic development: Economic Survey
  • Rupee falls 49 paise to slip below 82 against US dollar in intra-day trade
  • Economic Survey: India's GDP growth pegged at 6-6.8% in FY23-24
  • Economic Survey 2023 tabled in Parliament
  • This 25-yr period of Amritkal is golden century of independence and period of building a developed India: President Murmu
  • Budget 2023: Centre always kept country's interest paramount, says President Murmu
  • The budget document will be accessible via the "Union Budget Mobile App" on the Android and Apple OS platforms.
  • A day before the Union Budget, the Economic Survey 2023 will be tabled by Finance Minister Nirmala Sitharaman in Parliament on January 31.
  • This will be the last complete budget of the Modi government before Lok Sabha elections in 2024.
  • While the aam aadmi is expecting some relief in income tax, industries are also hoping for tax sops in Budget 2023.
  • Union Finance Minister Nirmala Sitharaman will be present the Budget 2023 on February 1

Income Tax Slabs

  • Tax Slab 2023-24
  • Tax Slab 2022-23
  • Income tax slabs in new tax regime

Existing Tax Regime

  • Income Tax Slab
    Income Tax Rate
  • 0 - 2.5 lakh
    NIL
  • 2.5 - 5 lakh
    5%
  • 5 - 7.5 lakh
    10%
  • 7.5 - 10 lakh
    15%
  • 10 - 12.5 lakh
    20%
  • 12.5 - 15 lakh
    25%
  • Above 15 lakh
    30%

New Tax Regime

  • Income Tax Slab
    Income Tax Rate
  • 0 - 3 lakh
    NIL
  • 3 - 6 lakh
    5%
  • 6 - 9 lakh
    10%
  • 9 - 12 lakh
    15%
  • 12 - 15 lakh
    20%
  • Above 15 lakh
    30%
  • No income tax up to Rs 7 lakh per annum
  • Regular Slab
  • Sr. Citizen (60-80 Age)
  • Very Sr. Citizen (80+ Age)

Existing Tax Regime

  • Income Tax Slab
    Income Tax Rate
  • Upto 0 - 2.5 Lakh
    Nil
  • 2.5 - 5 lakh
    5% above 2.5 lakh
  • 5 - 10 lakh
    12,500 + 20% above 5 lakh
  • Above 10 lakh
    1,12,500 + 30% above 10 lakh

New Tax Regime

  • Income Tax Slab
    Income Tax Rate
  • 0-2.5 Lakh
    Nil
  • 2.5 - 5 lakh
    5% above 2.5 lakh
  • 5 - 10 lakh
    12,500 + 10% above 5 lakh
  • Above 10 lakh
    37,500 + 15% above 10 lakh

Existing Tax Regime

  • Income Tax Slab
    Income Tax Rate
  • Up to 3 lakh
    Nil
  • 3-5 lakh
    5% above 3 lakh
  • 5,00,001 - 10 lakh
    10,000 + 20% above 5 lakh
  • Above 10 lakh
    1,10,000 + 30% above 10 lakh

New Tax Regime

  • Income Tax Slab
    Income Tax Rate
  • Up to 2.5 lakh
    Nil
  • 2,50,001 - 5 lakh
    5% above 2.5 lakh
  • 5,00,001 - 7.5 lakh
    12,500 + 10% above 5 lakh
  • 7,50,001 - 10 lakh
    37,500 + 15% above 7.5 lakh

Existing Tax Regime

  • Income Tax Slab
    Income Tax Rate
  • Up to 5 lakh
    Nil
  • 5,00,001 - 10 lakh
    20% above 5 lakh
  • Above 10 lakh
    1 lakh + 30% above 10 lakh
  • Above 10 lakh
    1 lakh + 30% above 10 lakh

New Tax Regime

  • Income Tax Slab
    Income Tax Rate
  • Up to 2.5 lakh
    Nil
  • 2,50,001 - 5 lakh
    5% above 2.5 lakh
  • 10-12.5 lakh
    75,000 + 20% above 10 lakh
  • Above 15 lakh
    1,87,500 + 30% above 15 lakh

LATEST BUDGET NEWS

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BUDGET 2023 FAQs

  • Who makes the budget?

    The finance ministry, NITI Aayog and other ministries of the government are involved in the budget making process. The Ministry of Finance issues guidelines every year on the basis of expenditure. After this, the ministries have to state their respective demands.

  • From whom does the government take opinion for making the budget?

    The Ministry of Finance seeks suggestions from citizens, departments, ministries, economists, industries to increase participation in the process of making the general budget. This year also the Finance Ministry has asked people to give ideas and suggestions for the budget.

  • What is Halwa Ceremony?

    According to the Indian parliamentary tradition, every year the Finance Minister of the country reads out the budget documents and presents them before the House. This budget document is printed in two languages (Hindi and English). Read More

  • When was Rail Budget discontinued?

    Before 2017, the Rail Budget was presented separately. In fact, in 2017, along with making the budget date February 1, the Center had also ended the tradition of presenting the Rail Budget separately.

  • Who holds the record for presenting the budget most number of times?

    As the Finance Minister, Morarji Desai presented the general budget 10 times. Of these, 8 were full budgets and 2 were interim. Read More

  • Which budget was termed as 'black budget'?

    The budget of the year 1973-74 is known as the Black Budget of India. This year the country's budget deficit was Rs 550 crore. Read More