Budget Highlights are as follows:
· 11.4 cr farmers received cash transfer of Rs 2.2 trillion cash.
· Rs 2,200 cr to be spent on ‘atmanirbhar plant program’.
· Agriculture credit target to be increased to Rs 20 lakhs, fund to be set up for agri start-ups, digital agri infra to be built.
· Cluster based approach for cotton production via PPP
· Rs 6000 crore sub-scheme for fishermen and fish vendors.
· 162 new nursing colleges with medical colleges will be opened.
· A national digital library for children and adults will be opened for the availability of a variety of books.
· Rs 2516 cr investment for 63000 agriculture credit societies.
· National co-operative database to be created to promote co-operative societies.
· Capital investment outlay for infrastructure is 33% up to Rs 10 lakh crore
· Rs 15000 cr investment for PM Awas yojana increased by 66% to Rs 79000 crore.
· Rs 2.04 lakh crore to be provided for railways, highest ever outlay for railways.
· Government’s aim is ‘Make AI in India’ and ‘Make AI work for India’ -Three centers of artificial intelligence will be set up in leading educational institutions.
· Rs 10, 000 crore urban infra fund will be created.
· KYC process to be further simplified.
· PAN to be used as common ID for businesses
· 100 labs to be set up for developing 5G services.
· Rs 7000 cr outlay for e-courts.
· Zero carbon emission by 2070.
· Rs 19,700 crore capital outlay for green hydrogen mission.
· Rs 35,000 crore for energy transition and net zero objectives.
· 200 new biogas plants will be set up.
· Replacing old government vehicles and respective fund will be created.
· 30 skill India international centers will be set up.
· Credit guarantee scheme for MSMEs with Rs 9000 cr corpus.
· The Amending of Banking Regulation Act is being proposed by the government in the budget.
· Maximum deposit limit for senior citizens will be increased from 15 lakh to 30 lakh.
· Fiscal deficit target is 5.9% of GDP for FY24.
· States allowed a fiscal deficit of 3.5% of GSDP.
· Exempt excise duty on biogas.
· Duties on gold, diamond and silver articles – doors, panels, slabs to be increased.
· Duty on compounded rubber to be increased.
· Reduce customs duty on open cells of TVs, camera lens, mobile mobile parts, kitchen chimneys, shrimps, phone batteries.
· To further ease the ITR process.
· Income tax rebate limit to be increased from Rs 5-7 lakh.
· New personal income tax slabs are as follows:
· Rs 3-6 lakh = 5% income tax
· Rs 6-9 lakh =10% income tax
· Rs 9-15 lakh = 15% income tax
· Rs 12-15 lakh= 20% income tax
· Above 15 lakh =30% income tax
