Budget 2023 Key Highlights -
New Income Tax Regime -
1) No tax on income up to Rs 7 lakh
2) Govt proposes to reduce highest surcharge rate from 37% to 25%
New Income Tax Slabs -
Rs 0-3 lakh: Nil
Rs 3-6 lakhs: 5%
Rs 6-9 lakhs: 10%
Rs 9-12 lakhs: 15%
Rs 12-15 lakhs: 20%
Rs Over 15 lakhs: 30%
1) Mobile phones
2) TV
3) Diamonds
4) Shrimp feed
5) Machinery for lithium ion batteries
6) Raw materials for EV industry
Things to get Cheaper -
1) Cigarettes
2) Silver
3) Gold
4) Luxury Cars
5) Imported items
Things to get Costlier -
Budget
Allocation to Specific
Ministries :
Ministry of Defence : Rs 5.94 lakh crore
Received highest allocation among all ministries.
Ministry of Road Transport & Highways :
Rs 2.70 lakh crore
Ministry of Railways :
Rs 2.41 lakh crore
Ministry of Consumer Affairs, Food,
& Public Distribution :
Rs 2.06 lakh crore
Ministry of Chemicals & Fertilizers :
Rs 1.78 lakh crore
Ministry of Rural Development :
Rs 1.60 lakh crore
Ministry of Agriculture & Farmer's Wellfare :
Rs 1.25 lakh crore
Ministry of Communication :
Rs 1.23 lakh crore
Find out more about India's digital currency e-rupee.