Breaking News: Budget 2023 Brings Hope with Positive Developments!
Breaking News Update: The eagerly awaited Budget 2023 has finally been announced, and it’s filled with good news for the country! In a move that’s being hailed as a step towards a brighter future, the government has unveiled a slew of initiatives aimed at boosting the economy, creating jobs, and improving the lives of citizens.
Key Highlights:
- Tax Relief for Middle-Class: The government has announced a significant reduction in income tax rates for individuals earning between ₹5 lakhs to ₹10 lakhs per annum. This move is expected to benefit millions of taxpayers and put more money in their pockets.
- Increased Allocation for Healthcare: A whopping 15% increase in healthcare expenditure has been announced, which will translate into better facilities, more doctors, and improved medical infrastructure across the country.
- Job Creation Initiative: The government has launched a new program aimed at creating 1 million new jobs in the next 12 months. This initiative will focus on sectors like manufacturing, infrastructure, and technology.
- Boost to Education: A significant increase in allocation for education has been announced, which will enable the government to build more schools, colleges, and universities, and provide better infrastructure and facilities to students.
- Relief for Small Businesses: The government has announced a slew of measures to support small and medium-sized enterprises (SMEs), including reduced compliance burden, easier access to credit, and tax breaks.
Reaction from Experts:
"This budget is a step in the right direction. The government has shown its commitment to creating a more inclusive and equitable society," said Dr. Rajiv Kumar, Vice Chairman, NITI Aayog.
"The tax relief for middle-class individuals will give them a much-needed boost. It’s a welcome move that will help stimulate consumer spending and boost the economy," said Renuka Sane, CEO, Omidyar Network India.
What You Need to Know:
- The budget has allocated ₹1.5 lakh crore for infrastructure development, a 15% increase from last year.
- The government has also announced a new scheme to provide interest-free loans to farmers and small entrepreneurs.
- The budget has proposed a hike in the minimum support price (MSP) for farmers to ensure better returns for their produce.
Stay Tuned for More Updates:
As more details emerge, we’ll bring you the latest updates and analysis on the budget. Stay tuned for expert insights, reaction from the industry, and more!
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Just wondering was there an extension to the development fees or water connection fees?
I know you had to have commenced your build by the end of Sept 2024 to avail of the water fees being waived and the end of Dec 2024 to have the county council development fees waved.
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