We will know about the budget of the economy in India in this post .Let’s start— Economical Planning in India
1. Rebate limit of Personal Income Tax to be increased to Rs. 7 lakh from the current Rs. 5 lakh in the new Tax regime.
2. New Slab Rates
0-3 lakh – nil
3-6 lakh -5%
6-9 lakh -10%
9-12-15%
12-15-20%
Above 15 lakh – 30%
3. To enhance limits of pre sumptive taxation to Rs 3 Cr for Micro Enterprises and Rs 75 Lakhs for professionals with cash payment less than 5%.
4. 15% concessional tax to promote new manufacturing society.
5. Threshold limit for co-operatives to withdraw cash without TDS increased to Rs 3 Cr.
6. Date of In corporation for Income Tax benefits to Start-Ups extended to 31st Mar 2024.
7. To Cap deduction from capital gains on investment in residential house to Rs 10 Cr.
8. Agniveers to get tax exemption on payment received from Agniveer Corpus Fund.
Economical Planning in India ———
1. Number of basic customs duty rates on goods, other than textiles and agriculture, reduced to 13 from 21.
2. Basic customs duty reduced on parts of open cells of TV panels to 2.5 per cent.
3. Basic customs duty on electric kitchen chimney increased to 15 per cent from 7.5 per cent.
4. Basic customs duty on heat coil for manufacture of electric kitchen chimneys reduced to 15 per cent from 20 per cent.
5. Customs duty on camera lens and its inputs/parts for use in manufacture of camera module of cellular mobile phone reduced to zero and concessional duty on lithium-ion cells for batteries extended for another year.
6. Basic customs duty rate on compounded rubber increased to 25 per cent from 10 per cent or 30 per kg whichever is lower.
7. National Calamity Contingent Duty (NCCD) on specified cigarettes revised upwards by about 16 per cent.
8. Basic customs duty reduced on acid grade fluorspar (containing by weight more than 97per cent of calcium fluoride) to 2.5 per cent from 5 per cent.
9. Basic customs duty on crude glycerin for use in manufacture of epicholorhydrin reduced to 2.5 per cent from 7.5 per cent.
- Ministry of Defence Rs 593537.64 Crore . Ministry of Road Transport and Highways -Rs 270434.71 Crore
- Ministry of Railways – Rs 241267.51 Crore
- Ministry of Consumer Affairs, Food and Public Distribution – Rs 205764.60 Crore
- Ministry of Home Affairs – Rs 196034.94 Crore
- Ministry of Chemical & Fertilisers – Rs 178481.99 Crore
- Ministry of Rural Development – Rs 159964.23 Crore
- Ministry of Agriculture & Farmers welfare – Rs 125035.79 Crore
- Ministry of Communications – Rs 123393.05 Crore
Economical Planning in India ——
1. Mahatma Gandhi National Rural Employment Guarantee Program – 60,000
2. National Social Assistance Program – 9636
3. Ayushman Bharat – Pradhan Mantri Jan Arogya Yojna (PMJAY) – 7200
4. Jal Jeevan Mission (JIM)/National Rural Drinking Water Mission-70,000
5. National Health Mission – 36785 6.
National Livelihood Mission – Ajeevika – 14129
7. Pradhan Mantri Awas Yojna (PMAY)-79590
8. PM Schools for Rising India (PM SHRI)-4000
9. Pradhan Mantri Poshan Shakti Nirman (PM POSHAN) – 11600
10. Raising and Accelerating MSME Performance (RAMP) – 1170
11. Khelo India 11,000
12. Eklavya Model Residential Schools – 5943
13. National Education Mission – 38953
14. Pradhan Mantri Gram Sadak Yojna – 19000
15. Urban Rejuvenation Mission: AMRUT and Smart Cities Mission – 16000
16. Mission VATSALYA-1472
17. Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle in India -(FAME -India) – 5172
1. The Total Receipts other than borrowings is Rs 24.3 lakh crore, of which the net taxreceipts are Rs 20.9 lakh crore.
2. The Total Expenditure is Rs 41.9 lakh crore, of which the Capital Expenditure is about Rs 7.3 lakh crore.
3. The Fiscal Deficit is 6.4 per cent of GDP, adhering to the Budget Estimate.
1. The Total Receipts other than borrowings is estimated at Rs 27.2 lakh crore and the Total Expenditure is estimated at Rs 45 lakh crore.
- The Net Tax Receipts are estimated at Rs 23.3 lakh crore.
- The Fiscal Deficit is estimated to be 5.9 per cent of GDP.
- securities are estimated at Rs 11.8 lakh crore.
- To Finance the Fiscal Deficit in 2023-24, the Net market borrowings from dated
- The Gross Market borrowings are estimated at Rs 15.4 lakh crore.
