 Early Times Report
JAMMU, Feb 1: Describing the Union Budget 2023-24 presented by Finance Minister Nirmala Sitharaman as a bonanza for middle class, Bharatiya Janata Party (BJP) J&K Executive Member Raman Suri today said that the biggest relief for working class is the changed tax slab. The money thus collected, he added, is going to transform the country with completion of mega projects of roads, highways and railway lines.
It was only because of the broad and far-sighted vision of Hon'ble Prime Minister Narendra Modi that the digital payments have arisen to 76% in transactions and 91% in value terms. Suri further said, the biggest relief for common people is that the majority of documents available in DigiLocker for individuals will be expanded and people will be able to have all their required papers handy. Setting up of entity DigiLocker for use by MSMEs and large businesses will also help the country go digital and thus, transparent.
By making aeroplanes and other aircrafts cheaper, the country is going to see a transformation in mobility. Tax slabs for income of Rs 0-3 lakh is nil, income above Rs 3 lakh up to Rs 5 lakh will be taxed at 5 per cent, income above Rs 6 lakh and up to Rs 9 lakh will be taxed at 10 per cent, for income above Rs 12 lakh up to Rs 15 lakh the tax rate is 20 per cent and above 15 lakh it is 30 per cent. This will also help the pensioners to a larger extent.
The best that this budget could bring is erasing the carbon footprints for which Green Hydrogen Scheme has been announced that includes more similar sectors, such as steel, shipping, fertilisers, etc. It would go a long way in establishing India's leadership in decarbonisation.
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