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    Union Budget2023-24

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    Aditya Jaiswal
    The document summarizes key aspects of the Union Budget 2023-24 presented by the Indian Finance Minister Nirmala Sitharaman. It outlines total projected revenue and expenditures for 2023. It describes the seven priorities guiding the budget which are inclusive development, reaching the last mile, infrastructure investment, unleashing potential, green growth, empowering youth, and financial sector reforms. It provides details on each priority area and highlights tax changes, schemes to promote various sectors of the economy, and socio-economic welfare measures included in the budget. The economic survey highlights India becoming the 5th largest economy and progress on key government schemes in areas like housing, electrification, sanitation, and LPG connections.

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    Union Budget2023-24

    Uploaded by

    Aditya Jaiswal
    17 views11 pages
    The document summarizes key aspects of the Union Budget 2023-24 presented by the Indian Finance Minister Nirmala Sitharaman. It outlines total projected revenue and expenditures for 2023. It describes the seven priorities guiding the budget which are inclusive development, reaching the last mile, infrastructure investment, unleashing potential, green growth, empowering youth, and financial sector reforms. It provides details on each priority area and highlights tax changes, schemes to promote various sectors of the economy, and socio-economic welfare measures included in the budget. The economic survey highlights India becoming the 5th largest economy and progress on key government schemes in areas like housing, electrification, sanitation, and LPG connections.

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    Union budget highlights 2023. Detailed highlights covering every topics of recent budget.

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    union budget2023-24

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    The document summarizes key aspects of the Union Budget 2023-24 presented by the Indian Finance Minister Nirmala Sitharaman. It outlines total projected revenue and expenditures for 2023. It describes the seven priorities guiding the budget which are inclusive development, reaching the last mile, infrastructure investment, unleashing potential, green growth, empowering youth, and financial sector reforms. It provides details on each priority area and highlights tax changes, schemes to promote various sectors of the economy, and socio-economic welfare measures included in the budget. The economic survey highlights India becoming the 5th largest economy and progress on key government schemes in areas like housing, electrification, sanitation, and LPG connections.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    17 views11 pages

    Union Budget2023-24

    Uploaded by

    Aditya Jaiswal
    The document summarizes key aspects of the Union Budget 2023-24 presented by the Indian Finance Minister Nirmala Sitharaman. It outlines total projected revenue and expenditures for 2023. It describes the seven priorities guiding the budget which are inclusive development, reaching the last mile, infrastructure investment, unleashing potential, green growth, empowering youth, and financial sector reforms. It provides details on each priority area and highlights tax changes, schemes to promote various sectors of the economy, and socio-economic welfare measures included in the budget. The economic survey highlights India becoming the 5th largest economy and progress on key government schemes in areas like housing, electrification, sanitation, and LPG connections.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 11

    Auditing And Assurance

    Presentation
    B.Com (Hons)
    R Moksha
    Yadav
    Abhishek
    Nihal
    Nanjappa

    1
    Union budget 2023-24
    • Finance minister Nirmala Sitharaman presented her fifth straight budget on 1st February 2023.
    • Total revenue - ₹42.3 trillion (US$530 billion) (in 2023)
    • Total expenditures - ₹45 trillion (US$560 billion) (in 2023)
    • The Budget adopts the following seven priorities. They complement each other and act as the
    ‘Saptarishi’ guiding us through the Amrit Kaal.
    • Inclusive Development
    • Reaching the Last Mile
    • Infrastructure and Investment
    • Unleashing the Potential
    • Green Growth
    • Youth Power
    • Financial Sector
    2
    Saptarish

    • Priority 1: Inclusive Development


    The Government’s philosophy of Sabka Saath Sabka Vikas has facilitated inclusive development
    covering in specific, farmers, women, youth, OBCs, Scheduled Castes, Scheduled Tribes, divyangjan
    and economically weaker sections, and overall priority for the underprivileged (vanchiton ko
    variyata). There has also been a sustained focus on Jammu & Kashmir, Ladakh and the North-East.
    Priority 2: Reaching the Last Mile
    To provide a sharper focus to the objective of ‘reaching the last mile’, government has formed the
    ministries of AYUSH, Fisheries, Animal Husbandry and Dairying, Skill Development, Jal Shakti and
    Cooperation.
    Priority 3: Infrastructure & Investment
    Investments in Infrastructure and productive capacity have a large multiplier impact on growth and
    employment. After the subdued period of the pandemic, private investments are growing again.

    3
    Saptarish

    • Priority 4: Unleashing the Potential


    “Good Governance is the key to a nation’s progress. Our government is committed to providing a
    transparent and accountable administration which works for the betterment and welfare of the common
    citizen.
    • Priority 5: Green Growth
    Hon’ble Prime Minister has given a vision for “LiFE”, or Lifestyle for Environment, to spur a movement of
    environmentally conscious lifestyle.
    • Priority 6: Youth Power
    To empower our youth and help the ‘Amrit Peedhi’ realize their dreams,they have formulated the
    National Education Policy, focused on skilling, adopted economic policies that facilitate job creation at scale,
    and have supported business opportunities.
    • Priority 7: Financial Sector
    the reforms in the financial sector and innovative use of technology have led to financial inclusion at scale, better
    and faster service delivery, ease of access to credit and participation in financial markets. 4
    The new tax rates are:

    • 0-3 lakh Nil


    • 3-6 lakh 5 per cent
    • 6-9 lakh 10 per cent
    • 9-12 lakh 15 per cent
    • 12-15 lakh 20 per cent
    • Above 15 lakh 30 per cent

    5
    Indirect Taxes

    • 16% tax hike on certain cigarettes


    • Basic customs duty on crude, glycerine reduced to 2.5%.
    • Import duty on silver bars hiked to align it with gold, platinum
    • Extend customs duty cut on imports of parts of mobile phones by 1 year
    • To promote TV manufacturing, customs duty on open cells of TV panels reduced to 2.5%

    6
    What gets cheaper and what's get costlier:

    Cheaper Costlier
    •Mobile phones •Cigarettes
    •TV •Silver
    •Lab-grown diamonds •Compounded rubber
    •Shrimp feed •Imitation Jewellery
    •Machinery for lithium ion batteries •Articles made from gold bars
    •Raw materials for EV industry •Imported bicycles and toys
    •Imported kitchen electric chimney
    •Imported luxury cars and EVs

    7
    Aims of Budget 2023 to include:

    • Facilitating ample opportunities for citizens, especially youth


    • Providing strong impetus to growth and job creation
    • Strengthening macro-economic stability
    • To aim for the empowerment of women in Budget 2023
    • To enable women self-help groups to reach next stage of economic empowerment
    • To help self-help groups with raw material supply, branding, marketing of products

    8
    Socio-economic welfare measures

    • Promoting timely payments to Micro and Small Enterprises


    • Agnipath Scheme, 2022
    • Relief to sugar co-operatives from past demand
    • Increasing threshold limit for Co-operatives to withdraw cash without TDS
    • Penalty for cash loan/transactions against primary co-operatives
    • Relief to start-ups in carrying forward and setting off of losses
    • Extension of date of incorporation for eligible start up for exemption
    • Gold to Electronic Gold Receipt
    • Incentives to IFSC

    9
     Highlights of Economic Survey 

    • India is 5th largest economy in 2022 


    • National Infrastructure Pipeline (NIP) has expanded to 9,000 projects from 6,835 projected
    earlier.
    • Goods & Services exports for 9MFY23 up 16% compared to same period in 2021-22.
    • to improve the ecosystem of ‘Quality of Life’
    • 2.1 Cr houses constructed under PMAY(Pradhan Mantri Awas Yojna)
    • 2.9 Cr Rural households electrified under Saubhagya
    • 11 Cr tap water connections under JJM(al Jeevan Mission)
    • 13 Lakh candidate trained under DDU- GKYDeen Dayal Upadhyaya Grameen Kaushalya Yojana)
    • 11 Cr LPG connections provided under PMUY (Pradhan Mantri Ujjwala Yojana)

    10
    Thank You

    11

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