28 Dec 2023 , 03:14 AM
On February 1, 2024, Union Finance Minister Nirmala Sitharaman will deliver the interim Budget for FY2024-25. The whole budget will be released once the next government takes charge, as Lok Sabha elections are scheduled for early next year. The details of this budget will be considered valid only until the results of the Lok Sabha elections in 2024 are declared and a new government takes office.
Earlier this month, FM Sitharaman stated at the CII Global Economic Policy Forum 2023 Summit that the Union Budget 2024, which is due to be delivered on February 1st, is unlikely to make any ‘spectacular announcements.’
FM Sitharaman delivered a pragmatic, populist-in-parts, and growth-oriented Budget on February 1, 2023. Sitharaman stated at the presentation of the Union Budget for Fiscal Year 2023-24 that the suggestions addressing personal income tax will largely help the country’s ‘hardworking middle class.’
Here are some of the prominent tax announcements made by FM Sitharaman in Budget 2023:
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