Highlights of Budget 2023 :

-Capex increased by 33% to Rs 10 lac Cr.
-Rlys capex set at 2.4 lac Cr.
-50 additional airports, heliports and Aerodromes
-Rs 10000 Cr/Year for urban development projects.
-Rs 20 Lac Cr Credit for agri sector.
-Credit Guarantee of MSME’S with corpus of Rs 9000 Cr will aid Rs 2 lac loan without collateral at 1% further reduction in rates.
–Rs 35000 Cr for energy transition projects.
-National Hydrogen Mission- Target 5 MT by 2030.
-Rs 79000 Cr for affordable housing
-100 Critical transport projects.
-Agri startups
-India to become Global hub of Millet production.
-157 New nursing colleges
-3 AI Centres in IIT’S.
-National data Governance project.
-Vivad Ke Vishwas for Voluntary settlement of disputes.
-Digi lockers usage to be expanded.
-1 Cr farmers to be trained for natural farming.
-Encouragement for domestic tourism.
-PAN to become common business identifier. KYC to be simplifed.
-Max deposit limit for Senior Citizen increased to Rs 30 lacs.
-Scrapping of Old vehicles by Govt/Govt agency
-Lab grown diamonds to be focus with customs duty reduction of seeds
-Customs duty on import of camera and certain parts for mobile mfrg reduced.
-IT benefit for startups extended by 1 more year.
-Extension of benefits for funds relocating to IFSC, Gift city extended by 1 year.
-Taxes: Under new regime, tax limit for expemption of tax is 7 lacs.
-Std deduction under new regime is Rs 52,500.
-Tax slabs- 0-3 lacs- Nil, 3-6 lacs- 5%, 6-9 lacs- 10%, 9-12 lacs-15%, 12-15 lacs-20%, above 20 lacs- 30%. –Highest tax is reduced from 42.7% to 39%.
-Capital Gains restricted to Rs 10 Cr under sec 54.
-Fiscal deficit is estimated at 5.9% of GDP for next year. Market borrowings is around 11.8 lac Cr.
-USDINR is at 81.72, Sensex has climbed 1000 points and 10 Year G-SEC is at 7.30.