Sitharaman will present Union Budget for 2023-24 in the Lok Sabha on February 1 amid expectations that the government will raise the income tax limit and provide relief to the middle class taxpayers, besides others.
The official further said that the meeting will also be attended by several Union ministers.
Bauxite is the principal ore of aluminum and therefore the mineral is the essential raw material for aluminium producers.
Union Finance Minister Nirmala Sitharaman tweeted a press release from the ‘My Gov’ platform, inviting the suggestions from people.
The formal exercise to prepare the annual Budget for the next financial year — 2023-24 – commenced on October 10. The Budget for 2023-24 is likely to be tabled on February 1.
The government is also looking to earn 7 paise for every rupee from Union excise duty and 5 paise from customs duty. Income tax will yield 15 paise to every rupee collection.
Further, the finance minister said data exchange among all-mode operators will be brought on a unified logistics interface platform to enable efficient movement of goods.
Currently, post offices provide savings account services and payments bank services through the India Post Payments Bank.
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“This Union Budget seeks to lay the foundation and give a blueprint of the economy over Amrit Kal of next 25 years – from India at 75 to India at 100,” Sitharaman said while presenting her fourth union budget.
Sitharaman announced this while presenting the 2022-23 Budget in Parliament.
The fiscal 2022-23 has been announced as International Year of Millets, the finance minister said while presenting the Union Budget for 2022-23.
While presenting the Budget for 2022-23, the finance minister also said the strategic transfer of Air India ownership has been completed and strategic buyer for (Neelachal Ispat Nigam Ltd) NINL has been selected.
Earlier today, Sitharaman met President Ram Nath Kovind ahead of the Budget presentation. She was accompanied by Ministers of State for Finance Pankaj Chaudhary, Bhagwat Karad and other officials from the Ministry.
Here are the key numbers to watch out for in the Budget for 2022-23, which is widely expected to boost spending towards policies that create jobs, boost manufacturing, helping rural and agri-economy and infrastructure creation.
The rusty brown tone of her saree was a combination of two colours, brown and red, that hold a deeper significance. While the colour brown is often associated with resilience, dependability, security, and safety, red signifies warmth, love and power.
During the period, the country’s output of finished steel registered a year-on-year (y-o-y) growth of 28.9 per cent to 62.37 MT, while the consumption of the same grew 25 per cent to 57.39 MT, the Survey for the ongoing financial year said.
The report presented in the parliament by Finance Minister Nirmala Sitharaman noted that the government’s spending on social services increased significantly during the pandemic.
