Union Finance Minister Nirmala Sitharaman made several important announcements in her budget speech 2023 for the development of education sector and increasing employment and skills among youth. The Finance Minister said that the focus will be on skilling as per the National Education Policy. Priority will be given to economic policies that create employment. Pradhan Mantri Kaushal Vikas Yojana 4.0 will be launched. 30 Skill India International Centers will be set up in the country. 100 labs will be set up in engineering institutes to develop applications for 5G services. In three years, 47 lakh youth will be given allowance (stipend). A National Apprenticeship Scheme will be launched.
Finance Minister Nirmala Sitharaman on Wednesday listed seven priorities of the General Budget 2023-24. This includes infrastructure, green development, financial sector and youth power. The other priorities of the budget are inclusive growth, reaching out to the last man and unleashing their potential.
Nirmala Sitharaman gave flight to Arun Jaitley’s dreams, 38800 teachers will be recruited in Eklavya schools
other important announcement
In the next 3 years, 38,800 teachers and supporting staff will be recruited in 740 Eklavya schools in the country.
National Digital Library will be established. Apart from this, there will be emphasis on setting up separate libraries at the state level as well.
157 new medical colleges have been built since 2014. Will prepare for research for medical colleges.
Finance Minister Nirmala Sitharaman gave 7 priorities of the budget – these include Infra, Green Growth, Financial Sector, Youth Power.
The National Book Trust and the Children’s Book Trust will provide books in local languages and English to physical libraries.
157 new nursing colleges will be built in core locations.
PM VIKAS (Pradhan Mantri Vishwakarma Kaushal Samman) scheme announced, it will cover skilled people engaged in various traditional and skilled professions.
A new course will be started to give training to work on medical equipment.
Physical library will be set up at Panchayat level.
Big relief in income tax
Big relief has been given to those earning up to Rs 7 lakh in the budget. Now these people will not have to pay any tax. Apart from this, the number of income tax slabs has also been reduced to 5.
Now there will be only 5 tax slabs, these people will get more benefits
In the new tax regime, no tax will be levied on those earning up to Rs 7 lakh. Apart from this, the number of tax slabs has now been reduced from 7 to 5 only. The first slab will be from 3 to 6 lakhs, in which 5 percent tax will have to be paid. Apart from this, the second slab will be 6 to 9 percent, in which 10 percent tax will be levied. And the third slab will be 9 to 12 lakhs, on which 15 percent tax will be levied. 20 percent tax will be applicable on earning between 12 to 15 lakhs. At the same time, 30 percent tax will be applicable on earning more than this.
How to get the benefit of tax exemption
Giving great relief, Finance Minister Nirmala Sitharaman has announced that no tax will be levied on total income up to Rs 7 lakh. Apart from this, if someone’s earning is up to Rs 9 lakh, then he will have to pay only Rs 45 thousand.
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