• Menu
  • Menu
  • Business
  • Subscribe now
    Digital subscription Print subscription ePaper subscription
  • Logout
Digital subscription
Print subscription
ePaper subscription
Trending
UAE holidays 2024 Corporate Tax News on WhatsApp The Kurator COP28
  • Latest News
  • UAE
    • People
    • Science
    • Government
    • Education
    • Crime
    • Emergencies
    • Environment
      • COP28
    • Health
      • Why Worry
    • Transport
    • Weather
    • Sultan Al Neyadi
  • Living In UAE
    • Visa+Immigration
    • Housing
    • Phone+Internet
    • Banking
    • Transport
    • Health
    • Education
    • Relocate
    • Reader Queries
    • Safety+Security
  • Business
    • Banking & Insurance
    • Aviation
      • Dubai Airshow
    • Property
    • Tax News
    • Corporate Tax
    • Analysis
    • Travel & Tourism
    • Markets
    • Retail
    • Corporate News
    • Tech
    • Auto
  • Best Buys
    • Electronics
    • Home and Kitchen
    • Offers
    • Consumables
    • Lifestyle
  • Your Money
    • Saving and Investment
    • Budget Living
    • Taxation
    • Expert Columns
    • Community Tips
    • Cryptocurrency
  • Food
    • Cooking and Cuisines
    • Guide to Cooking
    • Videos
  • Friday
    • Beauty
    • Wellbeing
    • Art & People
    • Home
    • Friday Partner
  • Games
    • Daily Crossword
    • Sudoku
    • Word Search
    • Spell It
    • Play
  • Podcasts
  • World
    • Gulf
      • Bahrain
      • Kuwait
      • Oman
      • Qatar
      • Saudi
      • Yemen
    • Mena
    • Europe
    • Africa
    • Americas
    • Asia
      • India
      • Pakistan
      • Philippines
    • Australia-New Zealand
    • Corrections
  • Opinion
    • Columnists
    • Editorials
    • Letters
    • From the Editors
  • Special Reports
  • Parenting
    • Pregnancy & Baby
    • Learning & Play
    • Child Health
    • For Mums & Dads
    • Ask Us
    • Games
  • UAE Success Stories
  • Magical Dubai
    • Dubai Life
    • Live the Luxury
    • Culture and History
    • Adventure
    • Staying Connected
  • Photos
    • News
    • Entertainment
    • Lifestyle
    • Business
    • Sports
  • Sport
    • UAE Sport
    • Cricket
      • IPL
        • Chennai
        • Delhi
        • Punjab
        • Kolkata
        • Mumbai
        • Rajasthan
        • Bangalore
        • Hyderabad
        • Gujarat
        • Lucknow
        • Live Scores
        • Point Table
        • Top Scorers
      • ICC
      • ICC World Cup 2023
        • Live Scores
        • Top Scorers
        • Point Table
        • Schedule
    • Motorsport
    • Football
    • Tennis
    • Golf in UAE
      • UAE
      • World
      • Photos & Videos
      • Course Reviews
      • Learn to Play
      • Gear
  • Entertainment
    • Hollywood
    • Bollywood
    • South Indian
    • Arab Celebs
    • Music
    • OTT
  • Going Out
  • Auto
  • Lifestyle
    • Health+Fitness
    • Community
    • Fashion
  • GN Reach
  • Tech
    • Electronics
      • Gitex Global 2023
    • Gaming
    • Media
    • Gitex Global 2023
  • Videos
    • How-To
    • Best Of Bollywood
    • News
    • Entertainment
    • Business
    • Sport
    • Community
    • Technology
  • GN Focus
    • Special Features
  • Know Plan Go
  • The Kurator
    • Life
    • Luxury
    • Style
  • Gold-Forex
  • Gratuity Calculator
  • Notifications
  • Gold/Forex
  • Prayer Times
  • Cinema Listing
  • GN Store
  • About Gulf News
  • Contact us
  • Work with us
  • Terms and Conditions
  • Privacy Policy
  • Advertise with us
  • Reach by GN
  • GN Focus
  • Gulf News epaper
  • Sitemap
  • Have your say
  • Printing Services
  • © Al Nisr Publishing LLC 2023. All rights reserved.
    India's Union Budget 2023-24 highlights: Income tax relief, reduction in customs duty, jobs and more

    Photos

    Login / Sign Up
    Logout
    Wednesday, November 29, 2023
    Gold / Forex

    Photos Business

    • News
    • Entertainment
    • Lifestyle
    • Business
    • Sports
    All Sections

    India's Union Budget 2023-24 highlights: Income tax relief, reduction in customs duty, jobs and more

    A look at everything you need to know about the announcement from the budget presentation


    Published:  February 01, 2023 19:15 Compiled by Lekshmy Pavithran, Assistant Online Editor  and  Reuters
    Follow us

    1 of 9
    Budget 2023
    New Delhi: The Indian government on Wednesday unveiled a 45 trillion rupees ($549.14 billion) spending budget for the next fiscal year starting April to boost economic growth, while aiming to lower fiscal deficit before elections due next year. Image Credit: Reuters
    2 of 9
    Budget
    The aim is to have strong public finances and a robust financial sector for the benefit of all sections of society, Finance Minister Nirmala Sitharaman said. Here are the highlights of the budget: Image Credit: AFP
    3 of 9
    Union-Budget
    Total spending will rise 7.5% to 45.03 trillion rupees ($549.51 billion) in the next fiscal year starting on April 1. Image Credit: GN graphics
    4 of 9
    India Budget highlights
    Sitharaman said the government would target a fiscal deficit of 5.9% of GDP for 2023/24 compared with 6.4% for the current fiscal year and slightly lower than a Reuters poll of 6%. The aim is to lower the deficit to 4.5% by 2025/26. The government's gross market borrowing is estimated to rise about 9% to 15.43 trillion rupees next fiscal year. Image Credit: GN Graphics
    5 of 9
    India Budget highlights
    Finance Minister Nirmala Sitharaman said the government will spend 10 trillion rupees ($122.3 billion) on longer-term capital expenditure in 2023/24, extending a strategy adopted to revive growth in the aftermath of the COVID crisis. Image Credit: GN Graphics
    6 of 9
    India Budget highlights
    She also raised the rebate limit for personal income tax to 700,000 rupees from 500,000 rupees, sending shares higher. Image Credit: GN Graphics
    7 of 9
    India Budget highlights
    The capital spending increase to about $122.3 billion, which would amount to 3.3% of gross domestic product (GDP), will be the biggest such jump after an increase of more than 37% between 2020/21 and 2021/22. Image Credit: GN Graphics
    8 of 9
    India Budget highlights
    A lack of jobs for young people, and meagre wages for those who do find work, has been one of the main criticisms of Modi. Sitharaman also said the government was allocating 350 billion rupees for energy transition, as Modi focuses on green hydrogen and other cleaner fuels to meet India's climate goals. Image Credit: GN Graphics
    9 of 9
    Union-Budget6
    Mobile phones and television sets manufactured in India will be cheaper due to reductions in Basic Customs Duty (BCD) on imports of their components, but smokers will pay more because the government has raised taxes. With the finance minister raising customs duty, fully imported cars, including electric vehicles, and those assembled in India with imported parts will become more expensive. Image Credit: GN Graphics

    Trending

    • Look: 41 workers trapped in tunnel for 17 days rescued

      Look: 41 workers trapped in tunnel for 17 days rescued


    • Philippines: Status of new bridge projects

      Philippines: Status of new bridge projects


    • New Zealand's new PM: Former airline boss to politics

      New Zealand's new PM: Former airline boss to politics


    • UAE among world’s best countries attracting top talent

      UAE among world’s best countries attracting top talent


    • In pictures: UAE residents take part in Dubai Run 2023
      Update

      In pictures: UAE residents take part in Dubai Run 2023


    • Pictures: Panic and chaos as police close London Bridge

      Pictures: Panic and chaos as police close London Bridge

    Latest In

    • Fire hits Dubai warehouse

      13 minutes ago

    • There's a Taylor Swift course at Harvard University

      23 minutes ago

    • 5 best water-resistant tech gadgets, in UAE, for 2023

      28 minutes ago

    • Watch: UAE President meets Cuban President

      37 minutes ago

    • How respiratory infections affect people with high BP

      54 minutes ago

    Go back to top
    Network links:
    • GN Store
    • About Gulf News
    • Contact us
    • Work with us
    • Terms and Conditions
    • Privacy Policy
    • Advertise with us
    • Reach by GN
    • GN Focus
    • Gulf News epaper
    • Sitemap
    • Have your say
    • Printing Services
    Find us on Social
    © Al Nisr Publishing LLC 2023. All rights reserved.
    This website stores cookies on your computer. These cookies are used to improve your experience and provide more personalized service to you. Both on your website and other media. To find out more about the cookies and data we use, please check out our Privacy Policy.
    Share on Facebook
    Share on Twitter
    Share on Whatsapp
    Share on Mail
    Share on LinkedIn
    Copy link
    Follow on Whatsapp
    Follow on Google
    Follow on Telegram
    Close
    Gulf News

    Get Breaking News Alerts From Gulf News

    We’ll send you latest news updates through the day. You can manage them any time by clicking on the notification icon.

    Subscribe No Thanks
    Continue reading Gulf News
    Dear Reader, please register to read gulfnews.com

    Dear Reader,

    This section is about Living in UAE and essential information you cannot live without.

    Register to read and get full access to gulfnews.com

    Create your account
    or login if you already have one
    First name is required.
    Last name is required.
    Please enter a valid email address.
    Password should have minimum 7 characters with at least one letter and number
    Passwords do not match

    By clicking below to sign up, you're agreeing to our Terms of Use and Privacy Policy

    Login your account
    New to Gulf News? Sign up now
    Please enter your email address.
    Please enter your password.

    Forgot password

    or