15,000 crore for Primitive Vulnerable Tribal Groups Development Mission to improve socio-economic conditions of vulnerable tribal groups - safe housing, clean drinking water, access to education, etc.

Tribal Groups Development

Phase III of the e-courts project will be launched with an outlay of 7,000 crores

E-Courts project

The movement towards an environmentally conscious lifestyle; aims for net zero carbon emissions by 2070. The focus is on green growth

Net zero carbon emissions by 2070

Settling contractual disputes of govt agencies wherein the arbitral award is under challenge - a voluntary settlement scheme will be introduced. Graded settlement terms, depending on the pendency level of dispute.

Voluntary Settlement scheme

The rebate for tax exemption increased to ₹7 lakhs

No tax upto ₹7 lakhs

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Conclusion

Manual scavenging - 100 percent de-sludging of sewers to transition from manholes to machine hole mode. Focus on scientific management of dry and wet waste

Manual scavenging

Support for poor prisoners - for those unable to afford the bail amount, required financial support will be provided.

Support for poor prisoners

Education - teachers' training to be re-envisioned through creative pedagogy. To build a culture of reading and make up for time lost during COVID-19, National Book Trust and Children Book Trust will be encouraged to provide non-curricular titles to physical libraries.

Education

Priority no 1 is inclusive development - covering farmers, women, youth, OBCs, divyang, etc. The sustained focus of Jammu & Kashmir, Ladakh and the North East.

Priority

2.4 lakh crore outlay for Railways - 9 times the outlay made in 2013-14; 50 additional airports, velodromes, etc will be made for domestic travel

Railways get outlay

Financial support for agritech startups, cooperative-based economic model, enabling of massive decentralized storage capacity for farmers: Sitharaman.

Agritech Startups

More than 39,000 compliances have been reduced and 3,400 legal provisions have been decriminalized to further trust-based governance. Jan Vishwas Bill to amend 42 Central Acts

Compliances have been Reduced

0-3 lakhs - NIL3-6 lakhs - 5 percent6-9 lakhs - 1o percent9-12 lakh - 15 percent12-15 lakh - 20 percentAbove 15 lakh - 30 percent

New tax rates:

Three Centres for Artificial Intelligence to be set up at top institutions. National Data Governance Policy to be launched to enable access to anonymized data.

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Amendments to Banking Regulation Act, and RBI Act are being considered

The Banking Regulation

The Indian economy has increased from 10th to 5th in the world. EPFO membership doubled to 27 crore and digital payments of 126 lakh crore rupees were made through UPI.

UPI lead to Increase in Economy

To reduce the pendency of tax appeals at the commissioner level, 100 joint commissioners are to be deployed for the disposal of small appeals. We shall also be selective in taking up cases for scrutiny of returns already received

DIRECT TAX PROPOSALS AIMED AT REDUCING THE COMPLIANCE BURDEN

This is the fully detailed explanation of Budget 2023-24.
We have picked some of the Importetnt from the Budget & they are here. Read More.

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