Overall development was taken care of in the general budget: Kashyap
BJP State President and MP Suresh Kashyap said that the general budget of India is the budget of Amrit Kaal and the whole world is looking towards India.
This time’s budget is the budget for the overall development of the whole of India, whether it is for agriculture gods, women empowerment, for the upliftment of children, for strengthening India’s infrastructure. All sections have been taken care of in this budget.
He said that this time the government has given a big benefit to the middle class, the rebate limit in income tax has been increased from 5 to 7 lakhs, as well as the exemption limit has been increased from 2.5 lakh to 3 lakh.
Women will be given a respectable savings certificate, in which an amount of two lakhs will be kept as a fixed deposit for girls for 2 years, on which the interest rate will be available from 7.5 percent.
The maximum deposit limit for the Monthly Income Account Scheme has been increased from Rs 4.5 lakh to Rs 9 lakh for a single account and from Rs 9 lakh to Rs 15 lakh for a joint account. The entire 50-year loan on behalf of the states is to be spent on capital expenditure within the year 2023-24, most of this loan expenditure will depend on the discretion of the states, but a part of this loan will be given on the condition of increasing the actual capital expenditure by them. Will go States will be allowed a fiscal deficit of 3.5 per cent of GSDP, of which 0.5 per cent will be linked to power sector reforms. In the new tax regime, it is proposed to give the benefit of standard deduction of Rs 50,000 to the salaried person and to deduct up to Rs 15,000 from the family pension. In the new tax regime, it is proposed to reduce the surcharge rate from 37 percent to 25 percent. As a result, the maximum personal income tax rate will be cut by up to 39 percent. The limit of tax exemption on leave encashment on retirement of non-government salaried employees has been increased to 25 lakhs. The new tax regime will be made the default tax regime, although citizens will continue to have the option of availing the benefits of the old tax regime.
He said that this budget has elements of overall development. In this budget, it is proposed to take advantage of presumptive taxation for micro enterprises and enhanced limits for some professionals. The enhanced limit will be applicable in case of total amount received in cash during the year which does not exceed 5 per cent of the total gross receipts/turnover.
