Page 15 - NIS English 16-31 February,2023

COVER STORY

First General Budget of Amrit Kaal

The decision to increase the limit of the amount
that can be kept in the bank's savings account
for senior citizens from Rs 4.5 lakh to Rs 9 lakh is
also a good initiative. Also, the limit of the Senior
Citizen Savings Scheme has also been increased The Current tax rate in the country is
from Rs 15 lakh to Rs 30 lakh. These schemes 42.74%, among the highest in the world.
are very important in the direction of women's The Budget has now reduced the highest
empowerment and the welfare of senior citizens. surcharge (on income above Rs 5 crore)
rate from 37% to 25% in the new Tax regime.
EMPHASIS ON IT-TECHNOLOGY WITH This will result in the reduction of the
GREEN DEVELOPMENT maximum tax rate to 39%."
The world is celebrating the International Year
of Millets. Against this backdrop, giving special – NARENDRA MODI, PRIME MINISTER
emphasis to various varieties of coarse cereals
in the general budget they have been given a new
identity as 'Shri-Anna' and many schemes have also and provide new income opportunities to a large
been made for its promotion. Small farmers will population. In this budget, along with Ease of
benefit from this budget. Along with this, emphasis Doing Business, the campaign of credit support
has been laid on promoting the agriculture and reforms for industries has been taken
sector through technology while connecting forward. An additional loan guarantee of Rs 2
agriculture with modernity so that the farmers get lakh crore has been arranged for MSMEs.
comprehensive benefits in the long run. Interest-free loans to states have also
A fund of Rs 35,000 crore has been given for been carried forward for one year. To increase
energy transition. Capital investment is being regional connectivity, 50 new airports, helipads,
increased by 33% to Rs 10 lakh crore, which water arrow drones, and advanced landing
is about 33 percent more than in 2019-20. grounds will be developed. The government will
Compared to 2014, investment in infrastructure spend Rs 10,000 crore every year on the Urban
has been increased by more than 400 percent. Infrastructure Development Fund. A credit
An unprecedented investment of ten lakh crore guarantee of Rs 9 thousand crores will be given
rupees in infrastructure will give new energy and to MSMEs. With this, they will also be able to get
speed to India's development. This will create an extra collateral-free credit of Rs 2 lakh crore.
new employment opportunities for the youth This will give new strength to the domestic
economy and this will also boost employment.
50 tourist sites will be developed in the country.
Certainly, the first general budget of the Amrit
Kaal is a budget to realize the vision of New India
in the 100th year of independence. This budget
will build a strong foundation to fulfill the grand
vision of a developed India. This budget gives
priority to the underprivileged. This budget will
fulfill the dreams of today's aspirational society-
village-poor, farmer, middle class, because it has
a framework for the development of all classes
which shows that the Indian economy is on right
track and moving towards a bright future.

Let us know how the new India is moving on the
path of Amrit Kaal with the 'Saptarishi' i.e. Seven
Sutras announced in the general budget...

New India Samachar February 16-28, 2023 13