Budget Live Updates



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2023-02-01T12:29 (IST)
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New tax regime is now the default tax regime
2023-02-01T12:28 (IST)
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Nirmala Sitharaman proposes to reduce highest surcharge rate from 37 percent to 25 percent.
2023-02-01T12:28 (IST)
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Salaried and pension - standard deduction in a new regime with over Rs.15.5 lakhs is Rs.52,500
2023-02-01T12:28 (IST)
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Senior Citizen Savings Scheme: Maximum investment limit increased from Rs 15 lakh to Rs 30 lakh, announces FM
2023-02-01T12:27 (IST)
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ITR processing period reduced The income tax returns processing period has been reduced by 16 days, says finance minister
2023-02-01T12:26 (IST)
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Higher surcharge rate reduce to 25% from 37% under new tax regime
2023-02-01T12:25 (IST)
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ITR processing period reduced The income tax returns processing period has been reduced by 16 days, says finance minister
2023-02-01T12:25 (IST)
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Green hydrogen, clean energy storage and transmission are the key drivers of the government’s “Green Growth” priority sector.
2023-02-01T12:25 (IST)
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Nirmal Sitharaman elaborates on I-T benefits for startup
2023-02-01T12:24 (IST)
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New tax regime tax slabs revised
2023-02-01T12:24 (IST)
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Rebate limit increased to Rs. 7 lakh under 87A
2023-02-01T12:23 (IST)
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New I-T return form are being introduced for easier filing of returns: FM
2023-02-01T12:23 (IST)
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Relief in custom duty on import of certain parts of mobile phones like camera lens and batteries by another year.
2023-02-01T12:23 (IST)
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To provide support to 47 lakh youths in 3 years, a Direct Benefit Transfer under a pan India national apprenticeship scheme will be rolled out, announces FM Sitharaman
2023-02-01T12:22 (IST)
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To provide support to 47 lakh youths in 3 years, a Direct Benefit Transfer under a pan India national apprenticeship scheme will be rolled out, announces FM Sitharaman
2023-02-01T12:22 (IST)
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FM mentions that digital payments are up 76% in transactions and 96% up in value!
2023-02-01T12:21 (IST)
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Tax concession granted- From Capital Gains On investment in Residential House - Sections 54 and 54F to Rs.10 Crores.
2023-02-01T12:21 (IST)
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FM: Carry forward of loss benefit from 7 years to 10 years allowed for startups!
2023-02-01T12:21 (IST)
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100 JT commissioners for small tax disputes will be deployed
2023-02-01T12:21 (IST)
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Cigarettes to get more expensive
2023-02-01T12:20 (IST)
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Finance Minister announces 100 labs for developing apps using 5G services
2023-02-01T12:20 (IST)
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Income tax benefits has been extended by a year till 2024 for startups.
2023-02-01T12:20 (IST)
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Rs.3 crore limit fixed for TDS compliance by rural co-op banks on cash withdrawal
2023-02-01T12:19 (IST)
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Co-operation Sectors - Tax to Manufacturing Segment is now fixed at 15% Cash Deposits by Primary Agricultural Banks - Limit is Rs.2 lakh per member
2023-02-01T12:19 (IST)
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Finance Minister Nirmala Sitharaman says Govt to set up single window system for registrations and approvals in IFSC Gift City
2023-02-01T12:19 (IST)
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Integrated IT portal will be set up for reclaiming unclaimed shares and dividends," says Finance Minister Nirmala Sitharaman
2023-02-01T12:19 (IST)
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Benefit of lower tax rate of 15% to new cooperative societies: FM
2023-02-01T12:19 (IST)
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National Calamity Custom duty on specified cigrettes proposed to be revised up to 16 percent, says Sitharaman
2023-02-01T12:19 (IST)
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On direct taxes Taxpayers' portal processing period reduced: FM
2023-02-01T12:18 (IST)
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Enhanced limits for Presumptive taxation Sec 44AD - Rs.3 crore Sec 44ADA - Rs.75 lakhs
2023-02-01T12:17 (IST)
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Common ITR form is to be rolled soon!
2023-02-01T12:17 (IST)
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Budget 2023 Speech Live: "Integrated IT portal will be set up for reclaiming unclaimed shares and...
2023-02-01T12:17 (IST)
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45% of the ITRs are processed within 24 hours!
2023-02-01T12:17 (IST)
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Mentions that IT department received 72 Lakhs returns in a day as the highest number in 2022.
2023-02-01T12:16 (IST)
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Enhanced limits of presumptive tax scheme
2023-02-01T12:16 (IST)
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States to be allowed 3.5% of GDP as fiscal deficit, says FM
2023-02-01T12:15 (IST)
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FM now comes to Key Income Tax Proposals #Budget2023
2023-02-01T12:15 (IST)
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Duty increased on cigarettes
2023-02-01T12:15 (IST)
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FM has proposed an increase of customs duty on articles of silver dore to match the duties levied on gold bars.
2023-02-01T12:15 (IST)
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Customs duty increased on compounded rubber.
2023-02-01T12:15 (IST)
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Gold, silver & diamond to get expensive
2023-02-01T12:15 (IST)
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Customs duty on key inputs will be reduced to enhance the export of Marine products, such as shrimp feed.
2023-02-01T12:15 (IST)
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Viability gap funding for battery storage, renewable energy evacuation, green credit policy and incentives for further growth are strong initiatives to support green growth and achieve net zero mission by 2070
2023-02-01T12:14 (IST)
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Central Processing Centre to be set up for faster response to companies filing forms under Companies Act," says Finance Minister Nirmala Sitharaman
2023-02-01T12:14 (IST)
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Finance Minister Nirmala Sitharaman says the revised fiscal deficit is at 6.4% of GDP
2023-02-01T12:14 (IST)
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Total receipts or receipts other than borrowing is Rs 24.3 lakh crore of which net tax receipts are Rs 20.9 lakh crore. The revised estimate of the total expenditure is Rs 41.9 lakh crore, of which the capital expenditure is about Rs 7.3 lakh crore
2023-02-01T12:14 (IST)
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Fiscal deficit pegged at 5.9% of GDP, total expenditure 41.9 lakh cr
2023-02-01T12:14 (IST)
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Indirect taxes
Custom Duty on good to go down except Textile and Agri Reduce number of basic customs duty rates from 21% to 13% Tax exemption on capital goods and Lithium batteries
2023-02-01T12:14 (IST)
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Customs duty on key inputs will be reduced to enhance the export of Marine products, such as shrimp feed.
2023-02-01T12:13 (IST)
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Basic customs duty for import of TV panel cut to 2.5% whereas BCD on the electric chimney will be increased.
2023-02-01T12:12 (IST)
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Budget's focus on green growth shows India’s commitment to reduce carbon emission
2023-02-01T12:12 (IST)
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"Relief in customs duty on mobile phone parts extended for another year. Reduce customs duty on TV panel parts," said the Finance Minister.
2023-02-01T12:12 (IST)
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Mobile Phone production in India has increased from 5.8 crore units to 31 crore units. Hence, relief is given on Custom Duty for Import of certain parts like Camera Lens and Lithium Ion cells for another year.
2023-02-01T12:11 (IST)
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New tax regime is now the default tax regime
2023-02-01T12:11 (IST)
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Nirmala Sitharaman proposes to increases tax exemption limit to Rs 3 lakh.
2023-02-01T12:11 (IST)
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GST exemption on blended gas says FM
2023-02-01T12:11 (IST)
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Fiscal deficit for 2023-24 fixed at 5.9%: Nirmala Sitharaman
2023-02-01T12:11 (IST)
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Tax exemption on capital goods & lithium batteries
2023-02-01T12:10 (IST)
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Revised estimate of fiscal deficit
Revised estimate for 2022-23 fiscal deficit at 5.9% of GDP, says FM
2023-02-01T12:10 (IST)
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5% tax on the Income of 7 to 9Lakh
2023-02-01T12:10 (IST)
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Income above 15 Lakh 30%
2023-02-01T12:10 (IST)
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Tax on income of 12 to 15 lakh is 15%
2023-02-01T12:10 (IST)
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Additional collateral free credit guarantee of Rs 2 lakh crore rupees, which will enable to lower cost of credit by 1 per cent. Good news for MSMEs that are still recovering from the impact of pandemic.
2023-02-01T12:09 (IST)
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FM: Custom duty rates to be reduced from 21% to 13% on many items except textiles
2023-02-01T12:09 (IST)
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Fiscal deficit expected to be 5.9% of GDP. We aim to Aim to reduce it to 4.5% by 2025-26, said Ms Sitharaman.
2023-02-01T12:09 (IST)
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Govt to introduce 5% CBG mandate
2023-02-01T12:09 (IST)
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Focus on simplified tax structure
2023-02-01T12:09 (IST)
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Brealking - Tax rebate limit is increased 7 lakh
2023-02-01T12:09 (IST)
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She add - no income tax till the 7 lakh
2023-02-01T12:09 (IST)
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Now there is no tax up to the income of 7 lakh
2023-02-01T12:09 (IST)
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Now there is no tax up to the income of 7 lakh
2023-02-01T12:09 (IST)
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FM moves to Part B - Direct taxes
2023-02-01T12:08 (IST)
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Govt to support setting up of battery energy storage of 4,000 MwH," says Finance Minister Nirmala Sitharaman
2023-02-01T12:08 (IST)
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Fiscal deficiet revised to 6.4%
2023-02-01T12:08 (IST)
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Net Tax receipt estimated at Rs.23.3 lakh crore
2023-02-01T12:07 (IST)
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100 new labs to be setup: FM
100 labs for developing apps using 5G services will be set up in engineering institutions. To realise new range of opportunities, business models and employment potential, labs will cover among others, apps like Smart Classrooms, Precision Farming, Intelligent Transports Systems and Healthcare
2023-02-01T12:07 (IST)
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One Time Small Investment Scheme - Mahila Samman Savings Certificate will be available for 2 years till March 2025 - Rs 2 lakh deposit at 7.5%
2023-02-01T12:07 (IST)
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States shall spend 50-year interest-free loans on capex within 2023-24.
2023-02-01T12:07 (IST)
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Deposit of senior citizens savings scheme enhanced from 15 to 30 lakhs scheme.
2023-02-01T12:06 (IST)
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TDS reduced on EPF withdrawls
2023-02-01T12:06 (IST)
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New IT form to make the filing process easier
2023-02-01T12:06 (IST)
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Higher TDS limits for 3 crores for Cooperatives
2023-02-01T12:06 (IST)
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Revamped credit guarantee scheme for MSMEs
2023-02-01T12:06 (IST)
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Mahila Samman Savings certificate for a 2-year period. This will offer deposit facility of up to 2 lakh at 7.5 per cent interest.
2023-02-01T12:05 (IST)
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Govt to launch Rs 2,200 crore Aatmanirbhar clean plant programme
2023-02-01T12:05 (IST)
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Additional collateral free credit guarantee of Rs 2 lakh crore rupees, which will enable to lower cost of credit by 1 per cent. Good news for MSMEs that are still recovering from the impact of pandemic.
2023-02-01T12:05 (IST)
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Agriculture Credit Target to be raised to Rs 20 lakh crore
2023-02-01T12:05 (IST)
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FM mentions that digital payments are up 76% in transactions and 96% up in value!
2023-02-01T12:05 (IST)
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A Central Processing Centre (CPC) will be set up for faster response to companies under the Companies Act.
2023-02-01T12:04 (IST)
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50 tourist destinations will be selected through challenge mode to be developed as a whole package for domestic and international tourism
2023-02-01T12:04 (IST)
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9.5% compressed bio gas mandate for marketers should drive faster adoption, but feedstock aggregation will be a challenge
2023-02-01T12:04 (IST)
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The 64% increase in allocation for PM Awaas Yojana to Rs 79,000 crore will be a positive for commercial vehicles and tractors used for moving materials for construction.
2023-02-01T12:04 (IST)
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She adds - The custom duty on the goods of gold and silver will be increased
2023-02-01T12:04 (IST)
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The imported National Calamity Custom duty on specified cigarettes suggested to be increased up to 16 percent.
2023-02-01T12:04 (IST)
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Revamped Credit guarantee scheme for MSMEs will take effect from 1 April 2023 with infusion of Rs 9000 crore into the corpus
2023-02-01T12:03 (IST)
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Union Budget focusses on India's Green Growth, says FM
2023-02-01T12:03 (IST)
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PM Vishwa Karma Kaushal Samman - package of assistance for traditional artisans and craftspeople has been conceptualized, will enable them to improve quality, scale and reach of their products, integrating with MSME value chain."
2023-02-01T12:03 (IST)
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PM Pranam to be launched to incentivise states and UTs to use alternative fertilisers, says FM Sitharaman
2023-02-01T12:03 (IST)
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FM added ahead - The Government Will provide relief on customs duty on imports of certain parts and inputs like mobile phones, lens, camera duty, for another year.
2023-02-01T12:02 (IST)
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FM announces Rs 35 crore for energy transition and net-zero carbon emission target
2023-02-01T12:02 (IST)
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A subsidiary EXIM bank entity to be set up for trade re-financing.
2023-02-01T12:02 (IST)
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FM further says that public consultation is to be introduced for the betterment of the regulatory framework in financial sectors
2023-02-01T12:02 (IST)
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Existing Regulations to be reviewed to ease compliance -
Single window for registration of SEZ, GSTN, IFSC
2023-02-01T12:02 (IST)
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Reducing cost of MSMEs credit guarantee by 1%
2023-02-01T12:01 (IST)
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30 Skill India International Centres to be set up across states
2023-02-01T12:01 (IST)
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Imported rubber will also be more having high prices
2023-02-01T12:01 (IST)
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Clothes will be more expensive
2023-02-01T12:01 (IST)
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One-time new small savings scheme 'Mahila Samman Saving Certificate' to be made available for 2 years up to March 2025, with a deposit facility of up to Rs 2 lakh in name of women, with 7.5% fixed rate and partial withdrawal option.
2023-02-01T12:01 (IST)
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She added - The mobile, cameras or lens will also be decreased in the price segment,
2023-02-01T12:00 (IST)
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The government will launch Pradhan Mantri Kaushal Vikas Yojana 4.0, says FM Nirmala Sitharaman
2023-02-01T12:00 (IST)
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Nifty Auto gains as FM announces Rs 19500 crore for green hydrogen mission
2023-02-01T12:00 (IST)
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Leading industry players will partner in conducting inter-disciplinary research, develop cutting-edge applications & scalable problem solutions in the areas of agriculture, health and sustainable cities," says Finance Minister Nirmala Sitharaman
2023-02-01T12:00 (IST)
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National Finance Information Registry will be set up, she said.
2023-02-01T12:00 (IST)
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FM spells out steps to realise vision of Make AI in India and Make AI work for India
2023-02-01T12:00 (IST)
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A one-stop solution for reconciliation & updating of identity and address of individuals maintained by various govt agencies, regulators and regulated entities will be established using DigiLocker service and Aadhaar as foundational identity
2023-02-01T12:00 (IST)
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The cost of electric vehicles will be having lower rates
2023-02-01T12:00 (IST)
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BIG Breaking - Sitharaman proposes to reduce the number of basic customs duty rates.
2023-02-01T12:00 (IST)
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BIG Breaking - Sitharaman proposes to reduce the number of basic customs duty rates.
2023-02-01T11:59 (IST)
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The automobiles, toys, and other basic things will be more cheaper than before
2023-02-01T02:35 (IST)
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FM said that the maximum deposit for senior citizen saving scheme to be improved for Rs 15 lakh to Rs 30 lakh
2023-02-01T23:58 (IST)
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Rs 9,000 crore will be infused under Credit Guarantee for MSME w.e.f 1st April 2023
2023-02-01T23:58 (IST)
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Unity malls in states to promote touurism says FM
2023-02-01T23:58 (IST)
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Budget focuses on connectivity across India
2023-02-01T23:58 (IST)
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The 64 pecrcent increase in allocation for PM Awaas Yojana to Rs 79,000 crore will be a positive for commercial vehicles and tractors used for moving materials for construction.
2023-02-01T23:57 (IST)
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This budget provides for Rs 35,000 crore capital investment towards energy transition and net zero objective and energy security by the Ministry of petroleum and natural gas,
2023-02-01T23:57 (IST)
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Dekho Apna Desh scheme to promote tourism
2023-02-01T23:57 (IST)
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She added - Tax exemption on capital goods and lithium batteries
2023-02-01T23:57 (IST)
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PAN India Apprenticeship Scheme to provide stipends for 47,000 youth also to be rolled out.
2023-02-01T23:56 (IST)
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50 destinations will be selected through challenge mode to enhance tourism.
2023-02-01T23:56 (IST)
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New app to improve tourism says FM
2023-02-01T23:56 (IST)
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"30 skill india international centres across different states will be set up," the Finance Minister said.
2023-02-01T23:56 (IST)
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The government proposes to keep the focus on natural farming,
2023-02-01T23:56 (IST)
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Govt to bring another dispute resolution scheme under Vivad Se Vishwas-2 to settle commercial disputes: Sitharaman
2023-02-01T23:56 (IST)
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Support for farmers
Over the next 3 years, one crore farmers will get assistance to adopt natural farming. 10,000 bio input resource centres will be set up, says FM
2023-02-01T23:56 (IST)
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IRCTC, Rail Vikas Nigam shares rise after FM says PPP will boost tourism
2023-02-01T23:55 (IST)
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Phase-III of e-courts will be launched, says FM Sitharaman
2023-02-01T23:55 (IST)
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Phase-III of e-courts will be launched, says FM Sitharaman
2023-02-01T23:55 (IST)
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Pradhan Mantri Kousal Vikas Yojana 4.0 will be launched to support youth to get jobs.
2023-02-01T23:55 (IST)
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Coastal shipping to be promoted as low-cost transport for both commercial and people transportation says FM.
2023-02-01T23:55 (IST)
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She added - The focus is also on tourism development which may increase air travel. Theme-based tourist circuits and the facilitation of rural infrastructure also cheerful move.
2023-02-01T23:55 (IST)
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The India has established a world record also in the digital transactions
2023-02-01T23:55 (IST)
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The Digital payment has seen a growth of 70% in the recent years
2023-02-01T23:54 (IST)
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FM said that the focus will be given to increase the digitization to enhance to IT services.
2023-02-01T23:54 (IST)
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Finance Minister declared 35 crores for priority capital investment for the energy transition, net zero objectives, and energy security by the ministry of petroleum and natural gas.
2023-02-01T23:54 (IST)
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Replacing old polluting vehicles will be a priority.
2023-02-01T23:54 (IST)
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More funds for old vehichle scrapping
2023-02-01T23:53 (IST)
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10,000 bio input research centers to be set up says FM
2023-02-01T23:53 (IST)
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1 crore farmers will be driven towards natural farming in the next 3 years, says FM.
2023-02-01T23:52 (IST)
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Eklavaya Model Residential Schools, the Centre will recruit 38,800 teachers and support staff for 740 schools serving 3.5 lakh tribal students
2023-02-01T23:52 (IST)
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50 additional airports, helipads, water aero drones, advanced landing grounds will be revived to improve regional air connectivity
2023-02-01T23:52 (IST)
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Focus on green growth Target to reach green hydrogen production of 5 MMT by 2030. Rs 35,000 crore allocated towards achieving net zero goal & energy transition: FM
2023-02-01T23:52 (IST)
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the Vivad Se Vishwas scheme is back in version 2.0. The scheme will settle contractual disputes of government and government undertakings where an arbitral award is under challenge in a court.
2023-02-01T23:51 (IST)
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The Green Credit Programme will be notified for responsive actions by individuals and companies to encourage environtment-friendly behaviour.
2023-02-01T23:50 (IST)
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For enhancing ease of doing business, more than 39,000 compliances have been reduced, over 3,400 legal provisions decriminalised.
2023-02-01T23:50 (IST)
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1 crore farmers will be driven towards natural farming in the next 3 years, says FM.
2023-02-01T23:50 (IST)
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PM Pranam to be launched, to promote alternative fertilisers and balanced use for chemical fertilisers
2023-02-01T23:50 (IST)
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Gobardhan scehme for 200 bio gas plants says FM
2023-02-01T23:49 (IST)
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13 GW greeen energy from ladakh via investmnet of Rs. 20,700 crore
2023-02-01T23:48 (IST)
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The 157 new nusring colleges will be opened to enhance the eduction sectors
2023-02-01T16:09 (IST)
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Rs.20,700 Crores for inter-state transmission and gridding of renewable energy.
2023-02-01T23:49 (IST)
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BSE is up by 500 points, bank Nifty is up 640 points
2023-02-01T23:48 (IST)
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The Government will launch Pradhan Mantri Kaushal Vikas Yojana 4.0
2023-02-01T23:48 (IST)
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The whole expenditure under PM Garib Kalyan Ann Yojana’ to be taken by center'
2023-02-01T23:48 (IST)
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PAN to be used as common identifier for all digital platforms
2023-02-01T23:48 (IST)
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Govt to launch a Rs 2,200 crore Aatmanirbhar clean plant programme, says Finance Minister Nirmala Sitharaman
2023-02-01T11:48 (IST)
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FM says PMPBTG Development Mission to be launched
2023-02-01T11:48 (IST)
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Govt to provide Rs 5,300 crore assistance to drought-prone central region of Karnataka, says Finance Minister Nirmala Sitharaman
2023-02-01T11:48 (IST)
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existing old polluting vehicles are crucial to replaced in 'greening our economy', says Nirmala Sitharaman
2023-02-01T11:48 (IST)
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100 critical transport infrastructure projects have been identified for implementation, says FM Sitharaman says that states and cities will also be encouraged to take up urban planning
2023-02-01T11:47 (IST)
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Budget 2023 live: FM Sitharaman says ...
All cities and towns will be enabled for 100% mechanical de-sludging of septics tanks & sewers to transition from manhole to machine hole mode
2023-02-01T11:47 (IST)
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3 centres for Artificial Intelligence to be set up to make AI work for India:
2023-02-01T11:47 (IST)
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Rs.35,000 Crores to be allocated for priority capital investments for energy transmission and net zero objectives.
2023-02-01T11:47 (IST)
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This schem is aimed to providing the free supply of grains
2023-02-01T11:47 (IST)
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Rs.19700 crore for national green hydrogen outlay
2023-02-01T11:46 (IST)
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Customs duty will be reduced on lab-grown diamonds. A R&D grant to 1 IIT for 5 years
2023-02-01T11:46 (IST)
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Nirmala Sitharaman - 2 lakh Cr will be borne by the central government under 'PM Garib Kalyan Anna Yojana' for the entire year.
2023-02-01T11:46 (IST)
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100 labs to be set up in Engineering institutions for development of 5G applications.
2023-02-01T11:46 (IST)
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Green growth would be one of the priorities of the budget.
2023-02-01T11:46 (IST)
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Govt to launch a Rs 2,200 crore Aatmanirbhar clean plan programme
2023-02-01T11:46 (IST)
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PM Pranam will be brought to incentivize states and Union Territories to enhance alternative fertilisers and balanced use of chemical fertilizers.
2023-02-01T11:45 (IST)
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Centre's focus on AI
Three centres of excellence for artificial intelligence to enable 'Make AI for India' and 'Make AI work for India', says FM
2023-02-01T11:45 (IST)
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National Data Governance policy will be introduced which will enable access to anonymised data: FM
2023-02-01T11:45 (IST)
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Digital Public Infrastructure for Agriculture will enable inclusive farmer-centric solutions & help improved access to farm inputs, market intel, support for agri industry, startups
2023-02-01T11:44 (IST)
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39,000+ compliances reduced to to incarese the comfort in doing business and over 3400 legal provision decriminalised
2023-02-01T11:44 (IST)
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"One stop solution for reconciliation of IDs maintained by various government agencies. PAN will be used as common business identifier," she said.
2023-02-01T11:44 (IST)
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To enable more fintech services, scope of documents available in DigiLocker will be expanded
2023-02-01T11:44 (IST)
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FM says phase 3 of e-courts projects will be launched with Rs.7,000 Crores
2023-02-01T11:44 (IST)
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"One stop solution for reconciliation of IDs maintained by various government agencies. PAN will be used as common business identifier," she said.
2023-02-01T11:44 (IST)
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For business organizations having a Permanent Account Number, the PAN will be used as a common identifier for all Digital Systems of specified government agencies.
2023-02-01T11:43 (IST)
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Nirmala Sitharaman - Niti Ayog to persist for 3 years,
2023-02-01T11:43 (IST)
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The government has outlined its priority. With a bumper increase in capex, PM Awaas Yajna outlay and hike in Railway capex the Modi government in its last full Budget has targeted job creation and infra development over populism.
2023-02-01T11:43 (IST)
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FM on steps to enhance ease of doing business
"More than 39,000 compliances have been reduced and more than 3,400 legal provisions have been de-criminalised to improve ease of doing business"
2023-02-01T11:43 (IST)
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FM on Capital investment outlay
Capital investment outlay is being increased steeply for third year in a row to Rs 10 lakh crore. The increased capital outlay for infrastructure to crowd in private investment, says FM