Budget 2023: Centre Likely To Introduce New Income Tax Slab

The Centre is anticipated to introduce a new system of personal income taxation without exclusions in the forthcoming budget. According to a report by a leading media house, adding more slabs to make the income range in each slab narrower is one of the numerous suggestions being looked at. It has been the subject of numerous rounds of debates at the Center. The publication was informed by a source with knowledge of the situation that “extensive conversations have been held” and “you must wait for the Budget for the updated…

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Private Hospitals To Shun Govt Schemes If Assembly Passes Right To Health Bill, Health News, ET HealthWorld

Jaipur: Ahead of the state Assembly’s budget session, in which the state government is set to present and pass the Right to Health Bill, private hospitals have threatened to go on strike and boycott government schemes if the law brought them under its ambit. The Bill was presented in the Assembly in September last year but had to be recalled after objections from the Opposition and private hospitals. The health department then invited suggestions from the protesting groups and prepared a revised draft that is to be presented in the…

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I Belong To Middle Class & Understand Their Problems: FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Sunday said the government has not imposed any new taxes on the middle class and she was aware of the pressures of the middle class.  On February 1, Sitharaman will submit the Union Budget for 2023–24 in the Lok Sabha. There are hopes that the government will increase the income tax threshold and give assistance to middle-class taxpayers, among other things. “I belong to the middle class and identify myself as a middle class so I can understand them. Modi govt has not levied any…

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Will The 2023 Budget Fuel The Stock Markets Expectations?

As the year 2022 ended on a red mark, stock market ardently waits for the Union Budget 2023 as the new year vibes are yet to set in. The market is already pinning high hopes on the Centre’s decision on long-term capital gains tax, short-term capital gain tax and security tax transaction among others. The Union Finance Minister, Nirmala Sitharaman will deliver the Union Budget for the current year in the Parliament on 01 February 2023. The stock market plays a key role in the capital market but the fluctuating…

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Disrupt and Innovate: The National Budget

The National budget for 2023 – 2024 will be presented in the Parliament next month. Since this will be the last full budget before National elections are held, what could sway the voters to BJP irrevocably? What could be the undeniable X factor for winning elections in 2024 and beyond? Can the entire middle class turn saffron with some innovatively disrupted ideas?  “A fine is a tax for doing something wrong. A tax is a fine for doing something right”, is an old adage. Can this budget completely abolish income…

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Food Processing Industry Invests Rs 4,900 Cr Under PLI Scheme: Govt

The government on Thursday said that the food processing industry has invested Rs 4,900 crore so far under the production-linked incentive (PLI) scheme. The PLI scheme for the food processing industry was approved in March 2021, with a budget outlay of Rs 10,900 crore. It will be implemented for seven years, until 2026-27. “A total of 182 applications have been approved under the PLI scheme for the food processing industry,” an official statement read. This includes 30 applications for millets-based products under the PLI scheme (8 large entities and 22…

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Karnataka Govt Tables Second Instalment Of Supplementary Estimates

The Karnataka government on Monday tabled the second instalment of the additional assessments for the existing fiscal aggregating to Rs 8,001.13 crore. The additional calculations were tabled by the Law and Parliamentary Affairs Minister JC Madhuswamy, on behalf of Chief Minister Basavaraj Bommai, who handles the Finance ministry for the state cabinet. The assessments are associated with advance sanctions from the contingency budgets after the 2022-23 supplementary estimates. It may be recalled that the first instalment was presented in September 2022. In an official introductory note presented by the government…

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Japan Drafts Budget For 2023 Of $862 Bn, Including Record Allocation For Defence

The Japanese government approved a draft budget for the next fiscal year totalling USD 862 billion including a record-high defence budget. According to the Kyodo news agency, Japan’s military spending in 2022 will be about 1.24 per cent of the GDP. The increase in the defence budget is linked to the government’s decision to increase defence spending to 2 per cent of the country’s GDP by 2027. The draught budget for the fiscal year 2023-2024 also allocates large sums to ensure future defence capability and weapon development. The draught budget…

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Committed To Macroeconomic, Financial Stability Despite Global Headwinds: Centre

The current state of the world economy is extremely unstable due to factors such as Ukraine crisis, the response of the financial and commodity markets to shifting conditions and tight monetary policy Despite global challenges, the government is nevertheless dedicated to ensuring sound macroeconomic fundamentals and financial stability, according to a finance ministry report. The current state of the world economy is extremely unstable due to factors such as global unpredictability, the Ukraine crisis, the response of the financial and commodity markets to shifting conditions, tight monetary policy, etc. The…

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Issues Confronting Agri Sector And Upcoming Union Budget

The importance of agriculture to the Indian economy has increased in light of the country’s increasing food needs in light of climate change and recent disruptions in the grain trade brought on by armed conflicts.  Allocations for agriculture have traditionally been significant in the union budget planning process since more than 60 per cent of families depend on revenue from this industry and because it multiplies demand for other industries. Vijay, Chief – Mechanisation and Trade Services at nurture.farm said, “The finance minister has to do a balancing act in…

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