Union Finance Minister Nirmala Sitharaman made several important announcements in her speech on the 2023 budget for developing the education sector and increasing employment and skills among youth. The Finance Minister said that the focus will be on training 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 released. 30 Skill India International Centers will be established in the country. 100 laboratories will be set up in engineering institutes to develop applications for 5G services. In three years, 47 lakh youths will receive an allowance (stipend). A National Learning Plan will be launched.
Finance Minister Nirmala Sitharaman on Wednesday listed seven priorities of the 2023-24 General Budget. This includes infrastructure, green development, the financial sector and youth power. The other budget priorities are inclusive growth, reaching the last man and unleashing his potential.
Nirmala Sitharaman gave flight to Arun Jaitley’s dreams, 38800 teachers will be recruited in Eklavya schools
another important announcement
In the next 3 years, 38,800 teachers and support staff will be recruited in 740 Eklavya schools in the country.
The National Digital Library will be established. Apart from this, emphasis will also be placed on the creation of separate libraries at the state level.
157 new medical colleges have been built since 2014. It will prepare for the research of medical colleges.
Finance Minister Nirmala Sitharaman gave 7 budget priorities including Infrastructure, Green Growth, Financial Sector, Youth Energy.
The National Book Trust and the Children’s Book Trust will provide books in local languages and English to physical libraries.
157 new nursing schools will be built at central locations.
The PM VIKAS (Pradhan Mantri Vishwakarma Kaushal Samman) scheme has been announced, which will cover skilled people engaged in various traditional and skilled professions.
A new course will be started to provide training to work on medical equipment.
The physical library will be established at the Panchayat level.
Great relief on income tax
Big relief has been given to those who earn up to Rs 7 lakh on 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 only be 5 tax slabs, these people will get more benefits
In the new tax regime, those earning up to Rs 7 lakh will not be taxed. Other than this, the number of tax tiles has now been reduced from 7 to only 5. The first slab will be 3 to 6 lakhs, on which a 5 percent tax will have to be paid. Apart from this, the second slab will be from 6 to 9 percent, in which 10 percent will be taxed. And the third slab will be 9 to 12 lakhs, on which a 15 percent tax will be charged. A 20 percent tax will be levied on earnings between 12 and 15 lakhs. At the same time, the 30 percent tax will be applied on the profit above this.
How to get the benefit of tax exemption
Giving a 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 profit is up to Rs 9 lakh, then she will have to pay only Rs 45 thousand.