Budget 2023 LIVE Updates: Finance Minister highlights the focus of budget on empowering women, emphasizing tourism, and green growth.

FY23 growth estimated at 7%

To spend Rs 2200 crore for high value horticulture

Agri credit target incresed to Rs 20 lk cr

To spend Rs 2200 crore for high value horticulture

Proposed capital expenditure of Rs 10 lk cr for FY24, up 33%

Plan to increase PM Housing outlay to Rs 79000 crore

Plan to spend Rs 15000 cr vulnerable tribal group (PVTG) over 3 years

"We are looking at a futuristic fintech sector. Personal income tax system, after a long time, has had substantial changes which will benefit the middle class," says the finance minister.

-"The new income tax regime we introduced three years ago is now attractive. We are not compelling anyone to shift to it, but it is simple and has lower tax rates," she adds.

-“I believe it is a highly pragmatic and growth-oriented budget which will help India remain amongst fastest growing economies globally," says Amisha Vora, Chairperson and MD, Prabhudas Lilladher Group.

-"I believe that the budget is targeting inclusive growth with focus on increasing consumption through benefits to middle class and impetus to industry to spur investment for domestic manufacturing and infrastructure development,” he adds.

"While some of the initiatives of the government are welcome, I sincerely was hoping that the GST on education and skilling courses was reduced. We simply cannot make our youth contribute to national growth and demographic dividend while taxing them at 18% for becoming skilled and productive," says Maheshwer Peri, Founder and CEO of Careers360.

"The Finance Minister balances between ground reality and future global scale opportunities extremely well. Safeguarding India's markets, while ascertaining access to international capital and equipment is akin to the crouching of a bengal tiger right before a full stride. Pravaig straddles 3 challenging & high tech industries, I.e. automotive, energy, & defense, and we are more confident than ever. Starting and scaling is getting better each day under this Government.”

- Siddhartha Bagri, CEO, Pravaig Dynamics

“The Union Budget 2023 has proven to showcase that the future of the Agriculture sector in the country is bright, with its well-researched, and nuanced focus towards the sector.

With a highlight on inclusive development for farmers, we welcome the decision of the government to provide Digital public infrastructure for agriculture enabling an open source, open standard and interoperable public good encompassing farmer-centric solutions.

This will definitely help improve access to farm inputs for the farmers whilst also boosting market intelligence, thereby also providing support to Agri-tech and startup growth.

The launch of the Agriculture Accelerator fundwill provide ample relief to the industry, in terms of encouraging young entrepreneurs towards the sector while also bringing in innovative and affordable solutions to address the challenges faced by the farmers.

We are confident that farmers will be able to store the produce much more efficiently. Overall, the union budget 2023 has portrayed a positive outlook for the agriculture sector”

- Kartik Jayaraman, Co-founder & MD of food and agri-tech company, Waycool

“India is certainly serious about climate action. Heartening to see an entire focus section in the Budget 2023 on Green growth. Specific budgets provided by Hon'ble FM on Green Hydrogen, Energy Transition, Battery Storage Pumped Hydro, RE Evacuation from Ladakh and inclusion of Green Credit in the Environment Protection Act, etc. will go a long way in decarbonising the Indianeconomy.”

There is no relief from inflation in this budget. On the contrary, this budget will increase inflation. There is no concrete plan to remove unemployment. Unfortunate to reduce the education budget from 2.64% to 2.5%. Reducing the health budget from 2.2% to 1.98% is harmful.

"Taxes increased, money not being spent on welfare schemes & subsidies. Tax being collected for some crony capitalists & big businessmen. Public should benefit from taxes but it's breaking their back. Instead of benefitting them (common people), welfare schemes and subsidies are being scrapped. People who had risen above the poverty level have fallen below the poverty level again," she adds.

(From ANI)

“It's a Budget presented keeping the elections in mind, while some relaxations are given to the middle class. Govt haven't said anything about MSP for farmers, employment & youth. Railways were also ignored this budget. It has been a disappointing budget,” said Yadav

(From ANI)

- Budget has focused on technology and a new economy.We have also focused on infrastructure
- Youngsters in the country will have many employment opportunities
- Enhancement of presumptive tax will boost MSMEs
- The middle class is a major force in India and we have taken many steps for them. We have made sure to ease of living. Our government has given a rebate in tax
- I tell people we have now a new budget and we should move ahead to make India a strong nation

Prime Minister Narendra Modi's statement on Union Budget 2023-2024, says the first budget of Amrit Kaal will build a strong foundation for building a developed India. This budget will fulfil dreams of aspirational society including poor people, middle-class people, and farmers: PM Narendra Modi on Union Budget

-Agri credit target increased to Rs 20 lakh crore

-To spend Rs 2200 crore for high value horticulture

-FM raises PM Awas Yojana outlay by 66% to Rs 79,000 crore

-Plan to spend Rs 15000 cr vulnerable tribal group (PVTG) over 3 years

-Outlay for 3rd phase of e-courts at Rs 7000 crore

-Rs 35000 crore investment planned in energy security, energy transition

-Green Hydrogen Mission aims for output of 5MMT by 2030

-Sugar cooperatives to get benefit of Rs 10,000 crore

-Import tax on compounded rubber upped to 25% from 10%

-Calamity related duty on cigarettes raised by 16%