Budget 2023 HIGHLIGHTS: Key takeaways on income tax changes, LTCG, custom duties, costlier cheaper and more

Price range 2023: Finance Minister Nirmala Sitharaman on introduced the Union Spending budget for 2023-24 on Wednesday, February 1. The government’s last complete-12 months Budget before the Lok Sabha elections in 2024 focused on the country’s infrastructure sector — including a history outlay for the railways — and tax positive aspects for the salaried middle class, sending waves of cheer on Dalal Avenue. 

Below are some crucial highlights of the BJP-led NDA government’s final comprehensive-year budget ahead of the 2024 standard elections: 

File cash outlay of Rs 2.4 lakh crore for Railways

50 new airports and heliports to be built

Rs 10,000 crore for urban infra fund every single calendar year

Rs. 75,000 crore for 100 transportation infra projects
Three AI centres of excellence to be set up

KYC process to be simplified additional PAN to be made prevalent company identifier

Taxes

Tax exemption on funds items and lithium batteries

Mobiles, camera lenses to turn out to be less expensive

Gold, silver, diamonds, cigarettes, imported rubber to get far more expensive 

Larger TDS restrict of Rs 3 crore for cooperatives

Rebate limit enhanced to Rs 7 lakh in new income tax routine No. of slabs lessened from seven to five

Only 5 per cent tax on persons wiht yearly profits of Rs 9 lakh to only pay Rs 45,000 in tax

Salaried course and pensioner normal deduction greater to Rs 52,000

Maximum tax amount 42.74 per cent introduced down