Assam Chief Minister Himanta Biswa Sarma on Wednesday said the Union Budget 2023-24 will strengthen the economic fundamentals of a resurgent New India.
In a series of tweets, Chief Minister Sarma hailed the Union Budget 2023.
"The Budget 2023 presented by FM Nirmala Sitharaman ji in Amrit Kaal is truly historic. It will strengthen the economic fundamentals of a resurgent New India. I thank Sitharaman ji for granting further fiscal autonomy to States in incentivising capital investments," tweeted Sarma.
Under Prime Minister Narendra Modi's leadership, he said the country has witnessed transformational socio-economic and spiritual changes. "Per Capita Income more than doubled since 2014 and India is one of the fastest-growing economies in 2023 (was listed among 'fragile 5' in 2013)," he said
The Chief Minister thanked PM Modi for nearly doubling allocation for PM-DevINE to revitalize infra growth in North East. Amrit Daohar scheme, he said will ensure optimal use of wetlands in the region.
"Glad that the budget focused on tribal & indigenous communities with schemes like PM-PVTG for last mile development," tweeted Sarma.
He said the budget will help create new job opportunities through PM Vikas, National Apprentice Programme, PM Kaushal Vikas Yojna 4.0 and extensive investments in incentivizing Digital Economy and Green Economy. The record allocation of Rs 13 lakh crore in infra will hugely boost the economy.
"Overall, the budget has been truly inspired by Modi ji's clarion call of Sabka Saath Sabka Vikas and will have a net positive impact on all sections of society - from entrepreneurs, farmers, women, youth, elders, children and other deprived sections," Sarma said.
Meanwhile, Prime Minister Narendra Modi said that the Union Budget 2023 is for a sustainable future that would further encourage green energy and infrastructure resulting in jobs while underlining the potential of the middle class in realizing the dreams of 2047.
The Prime Minister said that the government has focused on technology in the budget."This budget is for a sustainable future further encouraging green energy, green growth, green infrastructure, and green jobs. We have focused on technology and new economy in the budget," PM Modi said reacting to the budget.
Referring to the latest tax rebates, the Prime Minister said that it has given relief to the middle class and underlined the potential of the middle class in realizing the dreams of 2047.The Prime Minister informed that in order to empower the middle class, the government has taken many significant decisions in the past years that have ensured Ease of Living.
"India's middle class remains a major stream in every sphere of life. The middle class is a huge force to fulfill the dream of a prosperous and developed India. Our government has taken several steps to empower the middle class and ensure ease of living. We have reduced tax-rate and have given relief accordingly," he said.
Finance Minister Nirmala Sitharaman presented the Union Budget 2023 today in Lok Sabha. This was the third time in a row that the government presented the budget in a paperless form.
Notably, Union Finance Minister Nirmala Sitharaman on Wednesday announced an increase in the income tax rebate limit from Rs 5 lakh to Rs 7 lakh stating that the new tax regime will now be the default tax regime. The Finance Minister also proposed to change the tax structure in this regime by reducing the number of tax slabs to 5 and increasing the tax exemption limit to Rs 3 lakh.
On personal income tax, the FM announced that "Tax for income of Rs 0-Rs 3 lakh is nil, for income above Rs 3 lakh and up to Rs 5 lakh will be taxed at 5 per cent, for income of above Rs 6 lakh and up to Rs 9 lakh will be taxed at 10 per cent and for income above Rs 12 lakh and up to Rs 15 lakh to be taxed at 20 per cent and above 15 lakhs at Rs 30 per cent." (ANI)