India’s budget was increased by 12.95% on Wednesday for the fiscal year 2023u201324, totaling Rs 5.93 lakh crore. The capital expenditure now totals Rs 1.62 lakh crore after an increase of Rs 10,000 crore.
Rajnath Singh, the minister of defence, stated that the government’s commitment to promoting development and welfare-oriented policies that will benefit all facets of society was reinforced by the budget. According to him, the budget recommendations will help the nation achieve its objective of growing to a $5 trillion economy and ranking among the top three economies on the planet within a few years.
Video Courtesy: CNBC-TV 18
u201cThe Union Budget for 2023-24 presented by FM Smt. @nsitharamanu00a0 under the guidance of PM Shri @narendramodi is focused on growth and welfare, with a priority to provide support to farmers, women, marginalised sections and the middle class, he tweeted.
According to him, by creating jobs through investments in infrastructure projects coupled with greater expenditure on agriculture, housing, healthcare, and industrial sectors will help provide more chances for everyone and help in driving economic growth farther ahead! Mr Singh said the budget proposals will drive economic growth further.
The increase in Income Tax exemption limit to u20b9 7 lakhs and several other tax-related reforms will provide a huge relief to the middle class including salaried individuals and retired people. I congratulate the FM and thank Pradhanmantri ji for taking this people-friendly decision. The Union Budget 2023-24 is expected to bring about positive changes in the country that will lead us towards achieving our goal of becoming a USD 5 trillion economy and ‘Top Three’ economies within few years, he said in another tweet.
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