Budget 2023 in Gujarati: What happened cheap, what happened expensive, know the complete update of the new budget.

Welcome to our latest blog post on Budget 2023 Updates (Budget 2023 in Gujarati)! With the recent budget announcements made by Finance Minister Nirmala Sitharaman, the Government of India has taken some major steps towards the betterment of citizens. In this post, we will take a close look at the latest updates on the new income tax slabs and the changes made to simplify the tax structure for individuals.

According to the FM announcement, the new tax regime will save taxpayers Rs. No tax on income up to 7 lakhs and Rs. 9 lakhs will provide relief by offering a lower 5% tax rate to those with an annual income of Rs. In addition, the new arrangement Rs. 52,500 will come with a standard deduction, making it the default tax system for individuals. Get ready for an in-depth look at these latest budget updates and see how they will fulfill everyone’s dreams.

Union Budget 2023

In the new budget (Budget 2023), the prices of various items have been changed. The government has reduced import taxes on certain components of mobile phones, making them more affordable. On the other hand, the import tax on gold and silver has increased, due to which these items have become expensive. It’s important to know what will hit your wallet and what will provide some relief. Here’s a breakdown of what got cheaper and what got more expensive.

In her budget speech, Finance Minister Nirmala Sitharaman indicated a significant increase in capital expenditure, with expenditure on capital expenditure increasing by 33% to Rs. 10 lakh crore, which is equivalent to 3.3% of GDP. The Union Budget has also seen a significant increase in the PM Housing Scheme.

The FM emphasized the continuation of the food security program and announced initiatives for agro-initiatives, fisheries and primitive, vulnerable, tribal groups. However, her most important challenge is to come up with a viable plan to not only target the fiscal deficit of 6.4% but gradually reduce it towards the FRBM target in the coming years.

Budget 2023-24 Income Tax Slabs:

• Tax free income up to 3 lakhs
• 5% tax rate on annual income of 3 to 6 lakhs
• 10% tax rate on annual income of Rs 6 to 9 lakh
• 15% tax rate on annual income of Rs 9 to 12 lakh
• 20% tax rate on annual income of Rs 12 to 15 lakh
• 30% tax rate on annual income above 15 lakhs
• Finance Minister Nirmala Sitharaman presented the first budget of the Modi government with the words “This is the first budget of Amrit Kal”. She highlighted the recognition of India’s economy as a bright spot and
• India’s 7% growth in the current fiscal year, the highest among major economies. According to the FM’s speech, the Indian economy is on track and moving towards a bright future.

Per capita income increased to Rs. 1.97 lakh and India’s economy has risen from 10th to 5th in the world in the last 9 years, the Union Budget speech said.

Presenting the budget at a time when major advanced economies are facing recession and possible recession, the Economic Survey predicts India’s GDP growth in the range of 6-6.8%, still maintaining its position as the world’s fastest growing economy. A full recovery from the impact of the Kovid-19 pandemic bodes well for the country’s GDP growth prospects.

For the first time, Indian Railways has paid Rs. 2.40 lakh crore capital expenditure, which is the highest capital expenditure for railways as mentioned by the Finance Minister in his budget speech.

Find out what happened cheap

With the new budget (Budget 2023 in Gujarati) the following items have become cheaper.

• Lithium-ion battery components
• TV panel parts
• Certain mobile phone manufacturing components
• Seeds used in the production of laboratory-grown diamonds
• Shrimp feed
• Crude Glycerin
• Denatured ethyl alcohol used as a cleaning agent
• To promote manufacturing, boost exports and provide relief to consumers, the government has reduced import duty on these items.

Let’s know how last year was

Budget 2023 in Gujarati: Last year saw an increase in the prices of many essential commodities. For example flour has become expensive by 23%, from Rs 26 in January to Rs 32 in December. Household items like oil, milk and rice have also become more expensive. The price of a domestic gas cylinder has crossed Rs 1000 for the first time. Meanwhile, loans became more expensive as the Reserve Bank of India (RBI) hiked interest rates to control inflation. The attached chart provides a visual representation of last year’s inflation.