7 Important Highlights ft. Budget 2023



Feb 6, 2023

1. Investments ⌛

The Government plans to double the deposit limit for the Senior Citizen Savings Scheme from ₹15L to ₹30L and Monthly Income Account Scheme, also and establish an integrated IT portal for investors to reclaim unclaimed shares and dividends.

2. Women Empowerment 🌻

The budget focuses on empowering women, including the introduction of the 'Mahila Samman Saving Certificate' with a fixed interest rate of 7.5% for two years.

3. Inclusive Development 🙌🏽

It focuses on various groups such as farmers, women, economically weaker sections, and underprivileged communities. The government will provide food grains free of cost to 81.35 crore beneficiaries under the National Food Security Act (NFSA) for one year.

4. Tourism & Craftsmanship 👩🏽‍🔧

Emphasis was given to tourism and empowerment of craftsmen who contribute to the soft power of India. Sector-specific skilling and entrepreneurship development will be put together to achieve the objectives of the ‘Dekho Apna Desh’ initiative.

5. Green Growth 🌳

FM provided an outlay of ₹ 35,000 Cr to achieve energy transition and net-zero objectives and listed green growth among seven priorities of the government.

6. Tax Benefits 👛

Reduction in tax burden for individuals opting for the new tax regime with no income tax up to ₹7L income from FY 2023-2024 and caps deductions from capital gains on investment in residential houses.

7. Spending Vs. Saving 💰

The budget focuses more on a spending economy, rather than a saving economy.

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