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Union Budget 2023-24: PDF in Hindi and English Both Language Available Here For UPSC, IAS Exams

union-budget-2023-24-pdf-in-hindi-english-both-language-available-here-for-upsc-ias-exams
Union Budget 2023-24: PDF in Hindi and English Both Language Available Here For UPSC, IAS Exams

Union Budget 2023-24: PDF in Hindi and English Both Language Available Here For UPSC, IAS Exams

Union Budget 2023-24: PDF in Hindi and English: The Union Finance Minister Smt Nirmala Sitharaman presented the Union Budget 2023-24 in Parliament today. This is the first budget in Amrit Kaal. 

The Union Budget envisages a total outlay of Rs. 45.03 lakh crore in 2023-24; increase of 7.5% over 2022-23. The Indian Economy is a ‘bright star’ as the Economic Growth is estimated at 7 per cent, which is the highest among all major economies, in spite of the massive global slowdown caused by COVID-19 and Russia-Ukraine War.

Union Budget 2023-24: Vision of  Amrit Kaal

The Union Budget 2023 is the first budget in Amrit Kaal. Vision of  Amrit Kaal given below.

  1. Opportunities for Citizens with focus on the Youth.
  2. Growth and Job Creation.
  3. Strong and Stable Micro-Economic Environment.

Union Budget 2023-24: Saptarishi-7 Priorities

Finance Minister Nirmala Sitharaman listed seven priorities of the Union Budget and said that they complement each other and act as the ‘Saptarishi’ guiding us through the Amrit Kaal. They are as follows:

  1. Inclusive Development 
  2. Reaching the Last Mile  
  3. Infrastructure and Investment 
  4. Unleashing the Potential 
  5. Green Growth 
  6. Youth Power 
  7. Financial Sector

Railways Budget 2023-24 

Finance Minister Nirmala Sitharaman announced that a capital outlay of 2.40 lakh crore rupees has been provided for the Railways, highest ever outlay about 9 times the outlay made in 2013-14.

Read Also: Economic Survey 2022-23: Key Highlights with Details

Smt. Sitharaman also announced that one hundred critical transport infrastructure projects to be taken up on priority with investment of 75,000 crore, including 15,000 crore from private sources for last and first mile connectivity for ports, coal, steel, fertilizer, and food grains sectors. Fifty additional airports, heliports, water aerodromes and advanced landing grounds to be revived for improving regional air connectivity.

Some important points of Union Budget 2023-24

The Finance Minister announced that the Capital investment outlay will be increased by 33 per cent to 10 lakh crore rupees, which would be 3.3 per cent of GDP.

The PAN card will now be known as the National Identity Card. Earlier PAN was for tax filing.

Resident individuals with total income up to Rs 7 lakh will not have to pay any income tax under the new tax regime.

Income Tax - Union Budget 2023-24

Finance Minister Nirmala Sitharaman has announced major concessions for individual taxpayers. The rebate limit has been hiked from existing 5 lakh rupees per annum to 7 lakh rupees in the new tax regime. Thus, persons in the new tax regime, with income up to 7 lakh rupees will not have to pay any tax.

Read Also: Economic Survey 2022-23: India's GDP growth 6 to 6.8 pc in 2023-24

The government has also reduced the number of tax slabs to 5 and increased the tax exemption limit to 3 lakh rupees. This will provide major relief to all taxpayers in the new regime. An individual with an annual income of 9 lakh rupees will be required to pay only 45 thousand as income tax which is only 5 per cent of his or her income. Similarly, an individual with an income of 15 lakh rupees will be required to pay only 1.5 lakh rupees or 10 per cent of his or her income. 

Union Budget 2023-24: New tax rates

Total Income (Rs)

Tax Rate (per cent)

Up to 3,00,000

Nil

From 3,00,001 to 6,00,000

5

From 6,00,001 to 9,00,000

10

From 9,00,001 to 12,00,000

15

From 12,00,001 to 15,00,000

20

Above 15,00,000

30


What will be expensive and cheap after Budget 2023-24? | What will be the impact of Budget 2023 on the common man?

Finance Minister Nirmala Sitharaman to provide relief in customs duty on import of certain parts and inputs in the budget presented for 2023-24.

Cheap

By relieving customs duty on import of certain parts and inputs Budget 2023-24, Electric vehicles, toys, cycles and automobiles will be cheaper. With this, indigenous mobiles will be cheaper.

Expensive

Whereas, chimneys, some mobile phones and camera lenses, cigarettes, gold, silver, platinum will be expensive.

Union Budget 2023-24 Major Allocations - How many rupees have been allocated to which ministry?

  • Ministry of Defence allocated ₹ 5.94 lakh crore in Budget 2023. 
  • Ministry of Home Affairs allocated ₹ 1.96 lakh crore in Budget 2023. 
  • Ministry of Railways allocated ₹ 2.41 lakh crore in Budget 2023. 
  • Ministry of Communications allocated ₹ 1.23 lakh crore in Budget 2023.
  • Ministry of Chemicals and Fertilisers allocated ₹ 1.78 lakh crore in Budget 2023.
  • Ministry of Agriculture and Farmers' Welfare allocated ₹ 1.25 lakh crore in Budget 2023.
  • Ministry of Rural Development allocated ₹ 1.60 lakh crore in Budget 2023.
  • Ministry of Road Transport and Highways allocated ₹ 2.70 lakh crore in Budget 2023.
  • Ministry of Consumer Affairs, Food and Public Distribution allocated ₹ 2.06 lakh crore in Budget 2023.

*₹\Rs. Crore

Download Union Budget 2023-24: PDF in Hindi and English

Union Budget 2023-24 PDF in Hindi and English both language download links given below. 

Click Here To view & Download Union Budget 2023-24 in Hindi PDF  

Click Here To view & Download Union Budget 2023-24 in English PDF


Union Budget 2023-24: Key Highlights

  • Union Budget 2023-24 presents vision for Amrit Kaal-blue print for an empowerd and inclusive economy
  • Three pronged focus driven by four transformative opportunities constitute foundation of Amrit Kaal
  • Capital investment outlay increased by 33% to rs. 10 lakh crore
  • Effective capital expenditure at 4.5% of GDP
  • Fiscal deficit estimated to be 5.9 % of gdp in be 2023-24
  • Real GDP to grow at 7% in fy2022-23
  • Exports to grow at 12.5% in FY 2023
  • Atmanirbhar clean plant program with outlay of ₹2200 crore to be launched to boost availability of quality planting material for high value horticultural crops
  • 157 new nursing colleges to be established
  • Outlay for PM awas yojana enhanced by 66% to over rs. 79,000 crore
  • Highest ever capital outlay of rs. 2.40 lakh crore provided for  railways
  • Urban infrastructure development fund (UIDF) to be established through use of priority sector lending shortfall
  • 500 new ‘waste to wealth’ plants under Gobardhan scheme to be established at total investment of rs 10,000 crore
  • 10,000 bio-input resource centres to be set-up, creating national-level distributed micro-fertilizer and pesticide manufacturing network
  • Mantri kaushal vikas yojana 4.0 to be launched
  • Union budget 2023-24 provides substantial relief for personal income tax
  • New slabs announced under the new tax regime
  • Resident individual with total income upto ₹ 7 lakh will not have to pay any income tax under new tax regime
  • Standard deduction of ₹ 50,000 will also be available to salaried individuals under the new tax regime
  • New tax regime for individual and huf will be the default regime
  • Limit for tax exemption on leave encashment on retirement of non-government salaried employees increased to ₹ 25 lakh
  • Slew of proposals announced for the cooperative sector
  • Indirect tax proposals aim to promote exports, boost domestic manufacturing, enhance domestic value addition, encourage green energy and mobility
  • Number of basic customs duty rates on goods, other than textiles and agriculture, reduced from 21 to 13

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