Union Budget 2023 LIVE: Not compelling anyone to shift from old to new tax regime, says Nirmala Sitharaman

19:18 (IST)

Budget 2023 LIVE

Budget is anti-poor & not futuristic: Mamata Banerjee

It’s an anti-poor budget & not futuristic. It is a total opportunistic budget. Amid skyrocketing inflation, what is the benefit of exempting income tax? There is no proposal for the unemployed people in the budget: West Bengal CM Mamata Banerjee on #UnionBudget2023 pic.twitter.com/cbDVtTfE8s— ANI (@ANI) February 1, 2023

19:12 (IST)

Budget 2023 LIVE

FP Explained | What are lab-grown diamonds mentioned in FM’s budget speech?

Lab-grown diamonds are manufactured inside laboratories using cutting-edge technology. They have a similar physical appearance, chemical composition, and optical qualities as natural diamonds.

Read more

19:09 (IST)

Budget 2023 LIVE

Not compelling anyone to shift from old to new tax regime: FM

"We are not compelling anybody. Those who want to remain in Old can still remain there. But the new one is attractive because it gives a greater rebate. It also provides for simplified & smaller slabs, smaller lower rates of taxation & also slabs which are nicely broken down," says Nirmala Sitharaman.

18:45 (IST)

Budget 2023 LIVE

FP Opinion | Budget 2023: At last, the middle class has been heard

The amendment to section 87A to exempt a person earning not more than Rs 7 lakh from income tax is a welcome relief as it is bound to free most of the salaried class and the senior citizens from income tax liability. For others, the increase in the tax-free threshold to Rs 3 lakhs and the tweaking of the tax slab that had remained dormant for years should be a welcome relief because they are not merely cosmetic but substantial, writes S Murlidharan.

Read more

18:17 (IST)

Budget 2023 LIVE

Not a budget for the poor & youth: Congress leader P Chidambaram

Who has benefited from this Budget? Certainly, not the poor, not the youth looking desperately for jobs, not those who have been laid off, not the bulk of the taxpayers and not the homemakers: Former Finance Minister & Congress leader P Chidambaram pic.twitter.com/QEm1IWVuIs— ANI (@ANI) February 1, 2023

18:07 (IST)

Budget 2023 LIVE

Budget will lead to inclusive growth: Piyush Goyal

The world believes that India will give a big push to the global economy. Almost every sector has widely acclaimed this budget as a very balanced one. Therefore economists are happy with this budget.They beauty of this budget is that it will lead to inclusive growth: Piyush Goyal pic.twitter.com/2Kcz58S876— ANI (@ANI) February 1, 2023

18:05 (IST)

Budget 2023 LIVE

2.41 lakh cr allocated for Railways will fulfil passengers' aspirations, says Ashwini Vaishnaw

Rs 2.41 lakh crore allocated for Railways. It's a big change and it will fulfil the aspirations of passengers. Under 'Amrit Bharat Station' scheme, 1275 stations are being re-developed. Production of Vande Bharat trains will be revamped: Railways Minister Ashwini Vaishnaw pic.twitter.com/qEZwNWywPZ— ANI (@ANI) February 1, 2023

18:02 (IST)

Budget 2023 LIVE

Eyeing a paperless judiciary, Sitharaman allocates Rs 7,000 cr for Phase 3 of eCourts Project

Finance Minister Nirmala Sitharaman allocated an outlay of Rs 7,000 crore for the third phase of the eCourts Project in her Budget Speech on Wednesday so that the judiciary can seamlessly move towards a paperless and high-tech one as well as for efficient administration of justice.

Read more

17:41 (IST)

Budget 2023 LIVE 

Increase in capital outlay towards infra investment great boost to economy: Industry leaders

Increase in capital outlay towards infrastructure investment in the Union Budget 2023-24 is a great boost to the economy in the medium to long run and continued focus on infrastructure development will enable economic growth as well as create more jobs, the industry leaders said on Wednesday. Finance minister Nirmala Sitharaman announced hiking the capital expenditure for infrastructure development by 33 per cent to Rs 10 lakh crore for 2023-24, which is 3.3 per cent of the GDP.

PTI

17:25 (IST)

Budget 2023 LIVE 

Inflation has come down: FM

"You have seen inflation come down, both the CPI and WPI. Action has been taken by the government, we take inflation-related steps when things develop on the ground and in response to it and that has borne results," says Nirmala Sitharaman.

17:11 (IST)

Budget 2023 LIVE 

PAN will be used as the common identifier

- For the business establishments required to have a Permanent Account Number (PAN), the PAN will be used as the common identifier

- Phase 3 of the E-Courts project to be launched with an outlay of Rs 7,000 crore for efficient administration of justice#AmritKaalBudget pic.twitter.com/h4wphVdaty— NSitharamanOffice (@nsitharamanoffc) February 1, 2023

17:04 (IST)

Budget 2023 LIVE 

India on track to become $5 trillion economy: FM

We are moving along to become a $5 trillion economy: Finance Minister Nirmala Sitharaman during the post-Budget press conference #UnionBudget2023 pic.twitter.com/yGSCzkqDhG— ANI (@ANI) February 1, 2023

16:57 (IST)

Budget 2023 LIVE 

'Amrit Kaal’s first budget provides foundation for developed India,' says PM

Prime Minister Narendra Modi lauds the Union Budget 2023-24 presented by Union Finance Minister Nirmala Sitharaman. Calling it “Amrit Kaal’s first budget,” the PM said that the Budget gives priority to the deprived and will fulfil the dreams of the aspirational society, farmers and the middle class.

Read more

16:50 (IST)

Budget 2023 LIVE 

Prices of wheat will come down: FM

"The government has decided to release wheat into the market due to which the price of wheat will come down. Before the budget, we had already taken action to ease wheat prices," says Nirmala Sitharaman.

16:46 (IST)

Budget 2023 LIVE 

Big leg-up to capital investment: FM

"Budget gives a big leg-up to capital investment, it also attends to MSMEs as they are the engine of growth, it sustains capital investment and also gives a push to the private sector while also giving tax reliefs to individuals and middle class," says Nirmala Sitharaman.

16:41 (IST)

Budget 2023 LIVE 

India has been waiting for direct taxation to be simplified: FM

"This country has been waiting for direct taxation to be simplified. Therefore the new taxation regime that we brought in for direct taxation two, three years ago has now got greater incentives & greater attraction so that people can unhesitatingly move from the old to the new," says Nirmala Sitharaman.

16:27 (IST)

Budget 2023 LIVE 

New taxation regime has got greater incentives: FM

The new taxation regime has now got greater incentives, and attractions so that people can unhesitatingly move from the old to the new. We are not compelling anyone. But the new one is now attractive as it gives greater rebates: Union Finance Minister pic.twitter.com/dzVYj0mtCd— ANI (@ANI) February 1, 2023

16:26 (IST)

Budget 2023 LIVE 

FM highlights budget's four emphasis points

The four emphasis points of this budget are on empowering women, action plan for tourism, initiatives for Vishvakarmas (artisans) and green growth: Finance Minister Nirmala Sitharaman.

15:51 (IST)

Budget 2023 LIVE 

Poll-bound Karnataka gets Rs 5,300 crore aid for Upper Bhadra project in Budget 2023

Earlier, Bommai had repeatedly urged the Union government to declare the Upper Bhadra project as a national project as “it will help get a central grant of Rs 16,000 crore”. He had also met Sitharaman, multiple times and requested her to allocate funds for the project

Read More

15:48 (IST)

Budget 2023 LIVE 

Finance Minister unveiled a budget that is truly for 'Amrit Kaal', says Union Minister R Chandrasekhar

Finance Minister today unveiled a budget that is truly a budget for 'Amrit Kaal'.It is Rs 45 lakh Cr of spending of which Rs 13.3 lakh Cr investment into infrastructure that is bound to take India into 'Amrit Kaal as a modern infrastructure ready nation: Union Min R Chandrasekhar— ANI (@ANI) February 1, 2023

15:44 (IST)

Budget 2023 LIVE 

Industrialists hail new budget

Union Budget 2022 has left big industrialists happy with many hailing the speech given by Finance Minister Nirmala Sitharaman at the Parliament on Wednesday.

Read More

15:43 (IST)

Budget 2023 LIVE 

Finance Minister opens up a goodie bag for all stakeholders

The Union Budget 2023 has attempted to touch every aspect of the economy and continues to give 7 per cent growth guidance. It was expected that this Budget would have something for everyone and it did meet those expectations. The FM has focused on every key stakeholder from enterprises to startups to individual taxpayers and farmers.

Read More

15:33 (IST)

Budget 2023 LIVE 

Budget presented keeping elections in mind, says SP's Dimple Yadav

It's a Budget presented keeping the elections in mind, while some relaxations given to the middle class. Govt hasn't said anything about MSP for farmers, employment and youth. Railways also ignored in this budget. It has been a disappointing budget, said Dimple Yadav, Samajwadi Party MP.  

15:31 (IST)

Budget 2023 LIVE 

Want to thank PM Modi and congratulate FM Sitharaman for presenting a spectacular budget, says Uttarakhand CM PS Dhami 

#WATCH | On #UnionBudget2023, Uttarakhand CM PS Dhami says, "I want to thank PM Modi & congratulate FM Nirmala Sitharaman for presenting a spectacular budget before the people of the country. This Budget will meet the expectations of people of the country as well as the world..." pic.twitter.com/4gawAohYgt— ANI UP/Uttarakhand (@ANINewsUP) February 1, 2023

15:29 (IST)

Budget 2023 LIVE 

This budget is for the welfare of every sector and every state of the country, says MP CM Shivraj Singh Chouhan

#WATCH | Madhya Pradesh CM Shivraj Singh Chouhan speaks on #UnionBudget2023 "This budget is for the welfare of every sector and every state of the country. It's for benefit of the poor, women & middle-class people along with empowering weaker sections & the youth" pic.twitter.com/qPoev9DPzb— ANI MP/CG/Rajasthan (@ANI_MP_CG_RJ) February 1, 2023

15:08 (IST)

Budget 2023 LIVE 

First budget of Amrit Kaal shows the visionary and far-sighted leadership of PM Modi, says JP Nadda

#WATCH | On #UnionBudget2023, BJP national president JP Nadda says, "First budget of Amrit Kaal shows the visionary and far-sighted leadership of PM Modi. This budget shows our stable economy, power of young India and multicultural work ethics...." pic.twitter.com/lJkR3tmLe9— ANI (@ANI) February 1, 2023

15:03 (IST)

Budget 2023 LIVE 

What's cheaper, what do you have to pay more for?

Finance Minister Nirmala Sitharaman made some major announcements such as increasing the income tax rebate limit from Rs 5 lakh to Rs 7 lakh under the new tax regime while presenting her fifth Union Budget.

Sitharaman’s Budget speech also touched on which items will burn a hole in the pocket of the consumers and which will become affordable.

Read More

14:57 (IST)

Budget 2023 LIVE 

Centre hikes farm credit target by 11% to Rs 20 lakh crore for FY24

Among other big-ticket announcements for agriculture and allied sectors, Nirmala Sitharaman -- in her budget speech -- said the Centre will launch a new sub-scheme of Pradhan Mantri Matsya Sampada Yojana with an investment of Rs 6,000 crore to improve value chain efficiencies and fisheries market

Read More

14:51 (IST)

Budget 2023 LIVE 

Govt has announced a targeted Amritkaal Budget for Amritpidi

Budget 2023 proposals are thematic, thoughtful, thorough, and therapeutic. While it strengthens the fundamentals, it also empowers the peripherals to such a foundation. Adhering to the ‘Amritkaal’– the unique theme of this Union Budget visualises a new dream for India @100.

Read More

14:41 (IST)

Budget 2023 LIVE 

What are the new income tax slabs and how much tax will you pay?

Finance Minister Nirmala Sitharaman in her Budget 2023 speech announced changes to the tax slabs in the new regime, providing relief to the middle class. She also announced that there would be no tax on an annual income of Rs 7 lakh under this

Read More

14:39 (IST)

Budget 2023 LIVE 

Govt has taken several steps to empower the middle class and ensure ease of living, says PM Modi

Our Govt has taken several steps to empower the middle class and ensure ease of living. We have reduced tax-rate & have given relief accordingly: PM Narendra Modi on #UnionBudget2023

(Source: DD) pic.twitter.com/Q7v9CWUzRa— ANI (@ANI) February 1, 2023

14:30 (IST)

Budget 2023 LIVE 

This budget is for a sustainable future, says PM Modi

This budget is for a sustainable future further encouraging green energy, green growth, green infrastructure, and green jobs. We have focused on technology & new economy in the budget: PM Narendra Modi on #UnionBudget2023

(Source: DD) pic.twitter.com/XwTMr7Evlb— ANI (@ANI) February 1, 2023

14:29 (IST)

Budget 2023 LIVE 

Govt has taken several steps to make the lives of women easy, says PM Modi

Govt has taken several steps to make the lives of women, in rural & urban areas, easy. Women's self-help groups will further enhance them. Special savings scheme will be started empowering women in households: PM Narendra Modi on #UnionBudget2023

(Source: DD) pic.twitter.com/Tc3QFTFwem— ANI (@ANI) February 1, 2023

14:24 (IST)

Budget 2023 LIVE 

Balanced and prudent budget with no negative surprises

The Union Budget 2023 announced by Finance Minister Nirmala Sitharaman is a balanced budget with no negative surprises, prudently maintaining a fiscal deficit target at 5.9 per cent while delivering a Rs 10 lakh crores capex and rationalising personal income tax.

Read More

14:21 (IST)

Budget 2023 LIVE 

Scheme related to training, support for 'Vishvakarma' has been brought into the budget, says PM Narendra Modi 

Those toiling traditionally through their hands for the country, 'Vishvakarma' are the creators of this country. For the first time scheme related to training & support for 'Vishvakarma' has been brought in the budget: PM Narendra Modi on #UnionBudget2023

(Source: DD) pic.twitter.com/9JgiCf56k3— ANI (@ANI) February 1, 2023

14:16 (IST)

Budget 2023 LIVE 

First budget of Amrit Kaal will build a strong foundation for building a developed India, says PM Modi

This budget will fulfil the dreams of an aspirational society including poor people, middle-class people, and farmers, PM Narendra Modi added.

First budget of Amrit Kaal will build a strong foundation for building a developed India. This budget will fulfil dreams of aspirational society including poor people, middle-class people, farmers: PM Narendra Modi on #UnionBudget2023

(Source: DD) pic.twitter.com/AkrIl5pr1h— ANI (@ANI) February 1, 2023

14:07 (IST)

Budget 2023 LIVE 

Budget: Centre aims to eliminate sickle cell anaemia by 2047

Union Finance Minister Nirmala Sitharaman, during her budget speech in Parliament, said that the central government aims to eliminate sickle cell anaemia by 2047, and a mission will soon be launched in this regard. 

The mission will create awareness among the common people with a universal screening of seven crore people in the age group of 0 to 40 years in the tribal areas and counselling through collaborative efforts of central ministries and state governments.

ANI

13:59 (IST)

Budget 2023 LIVE 

What Finance Minister Nirmala Sitharaman's red saree signifies

Union Finance Minister Nirmala Sitharaman is one of the most inspiring women in Prime Minister Narendra Modi’s 2.0 cabinet in many ways.

Besides being the first full-time female Defense Minister, she has built a name for herself since delivering her maiden Budget speech in 2019.

All eyes are on Sitharaman today as she presents her fifth Union Budget 2023.

Read More

13:58 (IST)

Budget 2023 LIVE 

What Finance Minister Nirmala Sitharaman's red saree signifies

Union Finance Minister Nirmala Sitharaman is one of the most inspiring women in Prime Minister Narendra Modi’s 2.0 cabinet in many ways.

Besides being the first full-time female Defense Minister, she has built a name for herself since delivering her maiden Budget speech in 2019.

All eyes are on Sitharaman today as she presents her fifth Union Budget 2023.

Read More

13:51 (IST)

Budget 2023 LIVE 

Focus was made on technology, health sector says Union MoS for Health Bharati Pravin Pawar

Focus was made on technology, health sector, sickle cell and its need for treatment. Development of ICMR labs & new tech has also been focused upon. All sectors are taken into consideration in the #UnionBudget2023: Union MoS for Health Bharati Pravin Pawar pic.twitter.com/sebDHrsRZA— ANI (@ANI) February 1, 2023

13:45 (IST)

Budget 2023 LIVE 

A vision for Amrit kaal, emphasis on inclusive development

The budget for the year 2023-24 emphasises Infrastructure creation, expenditure on human development and reforms in the financial sector. Tax structure in the new personal income tax regime, to change by reducing the number of slabs to five and increasing the tax exemption limit to Rs 3 lakh.

Read More

13:43 (IST)

Budget 2023 LIVE 

Stock market investors cheer, Sensex up over 1,000 points

Indian stock markets reacted positively to the Union Budget for 2023-24 with benchmark indices rising over 1,000 points to breach the 60,000 mark.

Barring the Nifty oil and gas index, all other indices traded in the green, National Stock Exchange data showed. Nifty bank, financial services, and private bank rose the most.

ANI

13:37 (IST)

Budget 2023 LIVE 

I welcome the announcement of National Digital Library for children & adolescents, says Smriti Irani

I'd like to extend gratitude to PM Modi. I won't look at the Budget minutely. Going by today's pronouncements, I believe that in the budget, respect for women increased. I also welcome the announcement of National Digital Library for children & adolescents: Union Min Smriti Irani pic.twitter.com/cmjPcV1XTB— ANI (@ANI) February 1, 2023

13:35 (IST)

Budget 2023 LIVE 

A believer in a low tax regime, says Karti Chidambaram

I am a believer in a low tax regime. So, any tax cuts are welcome because giving more money into the hands of the people is the best way to boost the economy: Karti Chidambaram, Congress MP

I am a believer in a low tax regime. So, any tax cuts are welcome because giving more money into the hands of the people is the best way to boost the economy: Karti Chidambaram, Congress MP pic.twitter.com/0Ea0vQGonb— ANI (@ANI) February 1, 2023

13:33 (IST)

Budget 2023 LIVE 

Some good things in Union Budget 2023 but there was no mention of employment & inflation, says Shashi Tharoor 

There was no mention of MNREGA, poor rural labour, employment and inflation. Some fundamental questions remained to be answered, added the Congress MP 

There are some good things in #UnionBudget2023 but there was no mention of MNREGA, poor rural labour, employment & inflation. Some fundamental questions remained to be answered: Congress MP Shashi Tharoor pic.twitter.com/bgRdzhgj18— ANI (@ANI) February 1, 2023

13:24 (IST)

Budget 2023 LIVE 

Agriculture Accelerator Fund will be set up to encourage agri-startups by young entrepreneurs, says FM

An Agriculture Accelerator Fund will be set up to encourage agri-startups by young entrepreneurs, said Finance Minister Nirmala Sitharaman.

Sitharaman added, “The agricultural credit target will be increased to Rs 20 lakh crores with a focus on animal husbandry, dairy and fisheries.”

Sitharaman’s budget for the fiscal year starting April 2023 is her fifth straight since 2019.

Read More

13:22 (IST)

Budget 2023 LIVE 

Rs 5.94 lakh cr for Defence

Defence Ministry has been allocated Rs 5.94 lakh crores for the financial year 2023-24.

13:13 (IST)

Budget 2023 LIVE 

Budget 2023 hopes to build on foundation of previous budget, blue print for India@100: Nirmala Sitharaman

Indian Finance Minister Nirmala Sitharaman on Wednesday tabled Union Budget 2023-24, which is the last full Budget of the second term of the BJP-led NDA government ahead of the general elections in 2024.

The Finance Minister got straight to the point, starting her Budget speech with focus on rural India.

She said the Budget for 2023-24 hopes to build on the foundation of the previous budget and blue print for India@100.

Read More

13:11 (IST)

Budget 2023 LIVE 

India's first Amrit Kaal Budget inspired by 'Saptarishi' or the seven great sages

India’s Finance Minister Nirmala Sitharaman said that the Budget 2023 adopts seven priorities to guide India through the Amrit Kaal.

Terming these seven priorities as the ‘Saptarishi’, or seven great sages, the finance minister said that they are supposed to guide the country toward a better future and handle the major challenges it is currently experiencing.

Read More

13:09 (IST)

Budget 2023 LIVE 

Sensex trading over 1,000 points higher after Budget speech

After FM Sitharaman's budget speech, Sensex trading over 1,000 points higher.

Ahead of finance minister Nirmala Sitharaman’s speech, Sensex breaches 60,000 points (up 0.9 per cent).