Budget 2024 Live Updates: With the Lok Sabha election right around the corner, the government is set to present an interim budget, which will include estimates of the government’s expenditure, fiscal deficit and overall financial performance for a few months.
"Currently, those with an income of Rs 5 lakhs do not pay any income tax and I proposed to increase the rebate limit to Rs 7 lakhs in the new tax regime," the Finance Minister said while presenting the Budget.
The Indian Finance Minister, Nirmala Sitharaman, presented the Union Budget Budget of India for financial year 2023-24 on February 1, 2023. The budget encompasses seven focus areas, inclusive development, last mile, infrastructure, investment, green growth, financial sector.
Budget 2023-24: Union Finance Minister Nirmala Sitharaman announced that the new tax regime will now be the default tax regime. Presenting her fifth Budget 23, "This is the first Budget in Amrit Kaal, " she stated. The Finance Minister while announcing much-awaited Income Tax slabs and rates for salaried employees, she also announced an increase in the income tax rebate limit