BUDGET 2023-2024 Click icon to add picture

Union Budget for
PRESENTATION
FY 2023-24 

TITLE
a presentation by mirjam nilsson
 preview
1 Introduction

2 Primary goals

Allocations to major schemeS and specific

3
ministry’s

4 Tax proposal and tax benefits to industry

5 suggestions
 INTRODUCTION
A government budget is a financial statement
that lists planned expenditures and
anticipated revenue generated for the
upcoming fiscal year. At the beginning of
each fiscal year, the government delivers it to
the Lok Sabha in order to provide an
estimate of its expenses and receipts.
Government budgets are frequently defined
in terms of a country's "Annual Financial
Statement."

3 presentation title 20XX

 Primary Goals
•Ensure efficient allocation of resources.
•Reduce unemployment and poverty level.
•Reduce wealth and income disparities.
•Keep a check on prices.
•Change tax structure.
 INCOME VS EXPENDITURE

income and expenditure

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   trend of India's deficit

1. Revenue deficit = Total

revenue expenditure – Total
revenue receipts.

2. Fiscal deficit = Total

expenditure – Total receipts
excluding borrowings.

3. Primary deficit = Fiscal

deficit-Interest payments.

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 Allocation to major schemes
2022-23(BE) 2023-24(BE) increment

Development for
1 Pharmaceutical 100 cr 1,200 cr 1100 cr
Indusrty

Jal Jeevan
2 60,000 cr 70,000 cr 10,000 cr
Mission

Pradhan Mantri
3 48,000 cr 79,590 cr 31,590 cr
Awas Yojana

Eklavya Model
4 Residental 2,000 cr 5,943 cr 2,943 cr
Schools

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ALLOCATION FOR SPECIFIC MINISTRY

5.94 lac cr 2.70 lac cr 2.41 lac cr 1.60 lac cr 1.23 lac cr
MINISTRY OF MINISTRY OF MINISTRY OF MINISTRY OF MINISTRY OF
DEFENCE ROAD RAILWAY RURAL CHEMICAL AND
TRANSPORT AND DEVELOPMENT FERTILIZERS
HIGHWAYS

YEAR 2023-24
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 DIRECT TAX PROPOSAL

45% of tax payers portal Average processing period

were processed within 24 reduced from 93
hours. Days to 16 days in 8 years.

Processed more than 6.5 Income limit for rebate of

crore returns in this year. income tax increased from 5
lakh to 7 lakh in the new
regime.

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SIMPLIFYING TAX BENEFITS FOR INDUSTRY
MSME
Enhanced limits for micro
enterprises and professional to
avail benefits to presumptive
taxation; 95% of receipts to be
non cash.
Deduction on payments made to
MSME to be allowed only when
payment made.
STARTUPS
Extension of the date of
incorporation by one year for
income tax benefits to start-ups.
Benefits of carry forward of
losses on change of shareholding
of start-ups from 7 years to 10
years .
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CORPORATES
Extending 15% corporate tax
benefits to new corporative
commencing manufacturing till 31
mar,2024
Higher limits for 3cr for TDS
On cash withdrawal for co-
operative societies.
RATIONALISATION
Income of authorities, board and
commissions set up by statues of
union or state to be exempted from
income tax in certain sectors.
  With the exception of a "small" tax reduction, it hasn't delivered much to the middle
class, and it hasn't made any specific recommendations to create jobs or stop
the rise in prices.
 The absence of any budgetary increases, changes to or reductions in the GST, tax
exemptions, or inclusion of the essential component of universal health coverage has
alarmed many involved in healthcare.
 An rise in salaried people's Standard Deductions and an increase in the amount of
deductions allowed under Section 80C were two expectations that the
Budget fell short of.
 As part of the much-anticipated production-linked incentives to stimulate
manufacturing, no new industries were added.

Suggestions

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 The Union Budget for 2022–2023 places a lot of emphasis on improving
infrastructure and the healthcare system. It also has provisions to support
farmers and small enterprises. The budget also suggests tax breaks for
private citizens and strategies for luring foreign investment.

Summary

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 THANK YOU

Submitted To– Submitted By-

Swati Sharma Abhishek Bhat
Amay Razdan
Harsh Ramani
Shashwat Aithani