These 7 new announcements may be in the Union Budget! Expectations of common people! | Union Budget 2023… Rising Expectations! | Puthiyathalaimurai – Tamil News | Latest Tamil News | Tamil News Online

New announcements are expected to be made in this year’s Union Budget.

Union Finance Minister Nirmala Sitharaman is scheduled to present the Budget 2023 on February 1. And since this is the last budget of the current Prime Minister Modi government, the expectations on this budget are high. Especially, the grassroots people, industrialists and wage earners are looking forward to this budget. Like the previous budgets, the Union Budget 2023-24 will also be presented in a paperless format.

In that way, it is expected that there will be a change in the fields of information technology, agriculture, economic development, employment, production, public welfare programs and tax exemption.

1. The government is expected to take steps to create jobs in key industries such as manufacturing, technology and infrastructure to provide livelihood opportunities to the middle class.
2. It is expected that great announcements will be made in the sector in order to increase agricultural production and use it for urgent needs.
3. There also seems to be scope to shift children’s education fees from exemptions under Section 80C of the Income Tax Act to a separate provision.
4. It is expected that concessions may be provided to encourage small and self-employed people to get easy credit assistance.
5. Taxes are likely to be reduced to ease procedures related to digital technologies and e-commerce.
   There is an expectation that the basic exemption limit under the Income Tax Act will be increased to Rs.5 lakh. Currently, the income tax exemption limit per annum is Rs. 2.5 lakhs is limited.
6. It also seems that the Section 80D exemption limit for health insurance may be increased. Similarly, tax deductions for home loan principal and interest payments are also expected to change.
7. As the farmers are fighting against the agricultural laws, it seems that there will be a change in the budget to encourage them.

Earlier, the Alva preparation ceremony, marking the final stage of the Union Budget preparation process for 2023-24, was held in Delhi today in the presence of Union Finance Minister Nirmala Sitharaman, Union Ministers Pankaj Chelatri and Bhagwat Kisanrao Garat.