Union Budget 2023 Gone Bouncer? Fikar Not, Ladies, Here Are Key Takeaways For You
Here's the budget broken down for you!
The Union Budget 2023 was announced in the Parliament on February 1. This marks a very important day in the lives of every Indian who comes to know how much tax will they have to pay in the upcoming year, what things have become expensive and what became cheaper, and also rejig their investments! Well, budget is not just meant for men. Women must equally be enthusiastic in understanding how the budget affects them. So, ladies, if are getting confused as to which things are important in the Union Budget 2023 for you, I have broken it down for you here.
Tax Slab changes
The tax slab saw a major change in this year’s budget. Earlier, those with an income of Rs 5 lakh were exempted from paying taxes. That limit has been raised to Rs 7 lakhs this year. The tax rebate eligibility (the reimbursement on taxable income) has also been increased from Rs 5 lakh to Rs 7.5 lakh. Finance Minister Nirmala Sitharaman also announced that the new tax regime will now become the default tax regime.
What got expensive and what became cheap?
Three of the dearest things to women, gold, silver and diamonds, have become costlier. Ladies, looks like diamonds won’t be your best friends anymore! But seeds required to make lab-grown diamonds have been made cheaper. So, it’s a yay? The electric chimney, which has become a kitchen necessity, also became expensive. Clothes will also get expensive. Cigarette prices have shot up in this year’s budget as well! Camera lenses have gotten cheaper.
Mahila Samman Saving Scheme
In this year’s budget, women have been given a one-time investment opportunity called the Mahila Samman Saving Scheme. Under this investment opportunity, an amount of Rs two lakh can be deposited in the name of women or girls for a period of two years. Those investing will get an interest rate of 7.5 per cent on it. You can also make a partial withdrawal under this scheme.
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Also read: From Bahi-Khata To Tablet, How Nirmala Sitharaman Changed The Presentation Of The Budget!
So, ladies, hope this was helpful in understanding the Union Budget 2023. Also, it is always better to read and be informed yourself instead of depending on a man to explain it to you!
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