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    Budget

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    Ravneet
    The document summarizes the key aspects of the Union Budget for FY 2023-24. It outlines the primary goals of ensuring efficient allocation of resources, reducing unemployment and poverty, and reducing wealth disparities. It provides details on major allocations to schemes and specific ministries. The document also discusses direct tax proposals, including tax benefits for MSMEs, startups, and corporates. It concludes with suggestions that the budget fell short on delivering tax reductions for the middle class and recommendations to create jobs and control inflation.

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    Budget

    Uploaded by

    Ravneet
    13 views13 pages
    The document summarizes the key aspects of the Union Budget for FY 2023-24. It outlines the primary goals of ensuring efficient allocation of resources, reducing unemployment and poverty, and reducing wealth disparities. It provides details on major allocations to schemes and specific ministries. The document also discusses direct tax proposals, including tax benefits for MSMEs, startups, and corporates. It concludes with suggestions that the budget fell short on delivering tax reductions for the middle class and recommendations to create jobs and control inflation.

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    The document summarizes the key aspects of the Union Budget for FY 2023-24. It outlines the primary goals of ensuring efficient allocation of resources, reducing unemployment and poverty, and reducing wealth disparities. It provides details on major allocations to schemes and specific ministries. The document also discusses direct tax proposals, including tax benefits for MSMEs, startups, and corporates. It concludes with suggestions that the budget fell short on delivering tax reductions for the middle class and recommendations to create jobs and control inflation.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    13 views13 pages

    Budget

    Uploaded by

    Ravneet
    The document summarizes the key aspects of the Union Budget for FY 2023-24. It outlines the primary goals of ensuring efficient allocation of resources, reducing unemployment and poverty, and reducing wealth disparities. It provides details on major allocations to schemes and specific ministries. The document also discusses direct tax proposals, including tax benefits for MSMEs, startups, and corporates. It concludes with suggestions that the budget fell short on delivering tax reductions for the middle class and recommendations to create jobs and control inflation.

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    You are on page 1of 13

    BUDGET 2023-2024 Click icon to add picture

    Union Budget for
    PRESENTATION
    FY 2023-24 

    TITLE
    a presentation by mirjam nilsson
    preview
    1 Introduction

    2 Primary goals

    Allocations to major schemeS and specific


    3
    ministry’s

    4 Tax proposal and tax benefits to industry

    5 suggestions
    INTRODUCTION
    A government budget is a financial statement
    that lists planned expenditures and
    anticipated revenue generated for the
    upcoming fiscal year. At the beginning of
    each fiscal year, the government delivers it to
    the Lok Sabha in order to provide an
    estimate of its expenses and receipts.
    Government budgets are frequently defined
    in terms of a country's "Annual Financial
    Statement."

    3 presentation title 20XX


    Primary Goals
    •Ensure efficient allocation of resources.
    •Reduce unemployment and poverty level.
    •Reduce wealth and income disparities.
    •Keep a check on prices.
    •Change tax structure.
    INCOME VS EXPENDITURE

    income and expenditure

    5
      trend of India's deficit

    1. Revenue deficit = Total


    revenue expenditure – Total
    revenue receipts.

    2. Fiscal deficit = Total


    expenditure – Total receipts
    excluding borrowings.

    3. Primary deficit = Fiscal


    deficit-Interest payments.

    6
    Allocation to major schemes
    2022-23(BE) 2023-24(BE) increment

    Development for
    1 Pharmaceutical 100 cr 1,200 cr 1100 cr
    Indusrty

    Jal Jeevan
    2 60,000 cr 70,000 cr 10,000 cr
    Mission

    Pradhan Mantri
    3 48,000 cr 79,590 cr 31,590 cr
    Awas Yojana

    Eklavya Model
    4 Residental 2,000 cr 5,943 cr 2,943 cr
    Schools

    7
    ALLOCATION FOR SPECIFIC MINISTRY

    5.94 lac cr 2.70 lac cr 2.41 lac cr 1.60 lac cr 1.23 lac cr
    MINISTRY OF MINISTRY OF MINISTRY OF MINISTRY OF MINISTRY OF
    DEFENCE ROAD RAILWAY RURAL CHEMICAL AND
    TRANSPORT AND DEVELOPMENT FERTILIZERS
    HIGHWAYS

    YEAR 2023-24
    8
    DIRECT TAX PROPOSAL

    45% of tax payers portal Average processing period


    were processed within 24 reduced from 93
    hours. Days to 16 days in 8 years.

    Processed more than 6.5 Income limit for rebate of


    crore returns in this year. income tax increased from 5
    lakh to 7 lakh in the new
    regime.

    9
    SIMPLIFYING TAX BENEFITS FOR INDUSTRY
    MSME CORPORATES
    Enhanced limits for micro Extending 15% corporate tax
    enterprises and professional to benefits to new corporative
    avail benefits to presumptive commencing manufacturing till 31
    taxation; 95% of receipts to be mar,2024
    non cash. Higher limits for 3cr for TDS
    Deduction on payments made to On cash withdrawal for co-
    MSME to be allowed only when operative societies.
    payment made.

    STARTUPS RATIONALISATION
    Extension of the date of Income of authorities, board and
    incorporation by one year for commissions set up by statues of
    income tax benefits to start-ups. union or state to be exempted from
    Benefits of carry forward of income tax in certain sectors.
    losses on change of shareholding
    of start-ups from 7 years to 10
    years .

    10
     With the exception of a "small" tax reduction, it hasn't delivered much to the middle
    class, and it hasn't made any specific recommendations to create jobs or stop
    the rise in prices.
     The absence of any budgetary increases, changes to or reductions in the GST, tax
    exemptions, or inclusion of the essential component of universal health coverage has
    alarmed many involved in healthcare.
     An rise in salaried people's Standard Deductions and an increase in the amount of
    deductions allowed under Section 80C were two expectations that the
    Budget fell short of.
     As part of the much-anticipated production-linked incentives to stimulate
    manufacturing, no new industries were added.

    Suggestions

    11
    The Union Budget for 2022–2023 places a lot of emphasis on improving
    infrastructure and the healthcare system. It also has provisions to support
    farmers and small enterprises. The budget also suggests tax breaks for
    private citizens and strategies for luring foreign investment.

    Summary

    12
    THANK YOU

    Submitted To– Submitted By-


    Swati Sharma Abhishek Bhat
    Amay Razdan
    Harsh Ramani
    Shashwat Aithani

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