Budget 2023 LIVE updates: FM Sitharaman presents her fifth Union Budget

Catch all latest updates on Union Budget 2023-24 here as Finance Minister Nirmala Sitharaman presents the last full Budget of the government before General Elections 2024

12:45 PM

Budget 2023-24 LIVE: Govt hikes taxes on cigarettes

Taxes on cigarettes hiked by 16 per cent: FM Sitharaman

12:44 PM

Budget 2023-24 LIVE: FM on customs duty

Govt proposes to reduce customs duty on import of certain inputs for mobile phone manufacturing: FM

 

FM says govt to continue with concessional basic customs duty of 2.5 per cent on copper scrap

Customs duty on kitchen electric chimney increased to 15 pc from 7.5 per cent: FM Sitharaman
 

Customs duty on parts of open cells of TV panels cut to 2.5 per cent: FM Sitharaman

Govt to reduce customs duty on shrimp feed to promote exports: FM Sitharaman

 

Basic customs duty hiked on articles made from gold bars: Sitharaman

Basic import duty on compounded rubber increased to 25 per cent from 10 per cent

12:37 PM

Budget: Taxes for new cooperatives that start manufacturing activity till March '24 to be low

New cooperatives that commence manufacturing activity till March 2024 to attract lower tax rate of 15 per cent: FM

12:34 PM

Budget 2023-24: Number of slabs in tax structure reduced to 5 in new regime

I introduced in 2020, the new personal income tax regime with 6 income slabs, starting from Rs 2.5 Lakhs. I propose to change the tax structure in this regime by reducing the number of slabs to 5 and increasing the tax exemption limit to Rs 3 Lakhs: FM Nirmala Sitharaman

12:30 PM

Budget 2023: Reduces highest surcharge rate to 25% from 37% in new regime

Reduces highest surcharge rate to 25% from 37% in new regime: FM 

12:27 PM

Budget 2023: Income tax exemption up to Rs 7 lakh per year, says FM

Tax exemption up to Rs 7 lakh per year under new tax regime from Rs 5 lakh per year: FM 

12:20 PM

Budget LIVE: Govt to set up 100 labs for developing applications for 5G services

100 labs for developing applications for 5G services will be set up in engineering institutions. To realise new range of opportunities, business models&employment potential, labs will cover among others, apps like Smart Classrooms,Precision Farming,Intelligent Transports Systems and Healthcare: FM

12:14 PM

Budget 2023: Govt to set up Gowardhan Scheme for promoting circular economy

Govt to set up Gowardhan Scheme for promoting circular economy with total investment of Rs 10,000 cr: FM Sitharaman

12:13 PM

Govt to take up mangrove plantation under new 'MISHTI scheme'

Govt to take up mangrove plantation along the coastline under the new MISHTI scheme: FM Sitharaman

Govt to promote conservation values through a scheme to encourage optimal use of wetlands: FM

12:12 PM

Budget LIVE: Fiscal deficit pegged at 5.9% of GDP for FY24

Fiscal deficit pegged at 5.9% of GDP for FY24, says FM Sitharaman

12:12 PM

Budget LIVE: Pradhan Mantri Kaushal Vikas Yojna 4.0 to be launched

Pradhan Mantri Kaushal Vikas Yojna 4.0 will be launched to skill lakhs of youth: FM Sitharaman

 

30 Skill India international centres to be set up: FM Sitharaman

12:07 PM

Budget 2023-24: Govt launches PM-PRANAM to promote alternative fertilisers

PM-PRANAM will be launched to incentivise states to promote alternative fertilisers: FM
 

Govt to facilitate 1 crore farmers to adopt natural farming: Sitharaman

12:03 PM

Budget provides for Rs 35,000 cr for priority capital investment towards energy transition, net zero objective

Govt targeting 5 MT of Green Hydrogen production by 2030: FM Sitharaman

 

Budget provides for Rs 35,000 cr for priority capital investment towards energy transition and net zero objective: FM Sitharaman

 

Green credit programme will be notified under the Environment Protection Act: FM

11:59 AM

If MSMEs fail to execute contract, 95% of performance security to be returned

If MSMEs fail to execute contract, 95 per cent of performance security will be returned to small business as part of Vivad Se Vishwas: Sitharaman

 

Govt to bring another dispute resolution scheme under Vivad Se Vishwas-2 to settle commercial disputes: Sitharaman

11:57 AM

Budget 2023-24 LIVE: Phase-III of e-courts will be launched

Phase-III of e-courts will be launched: FM Sitharaman