Finance Minister Nirmala Sitharaman presented her seventh consecutive budget on Tuesday, July 23. His 1 hour 23 23-minute speech brought some relief to the salaried class. Now, incomes up to Rs 7.75 lakh have become tax-free for those choosing the new tax regime. That means he has made a profit of Rs 17.5 thousand.
What did Bihar and Andhra Pradesh get?
The Finance Minister announced to assist Rs 58.9 thousand crore to Bihar and Rs 15 thousand crore to Andhra Pradesh. He also promised to bring a special scheme for infrastructure development for Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh. 10 big things about the budget
1. What became cheaper in the budget
Cancer medicines, gold, silver, platinum, mobile phones, mobile chargers, electrical wires, X-ray machines, solar sets, leather, and seafood. Custom duty on mobiles and chargers reduced to 15%. Customs duty on gold and silver jewelry was reduced to 6%.
2. For salaried
Income up to Rs 7.75 lakh is tax-free in the new tax regime, benefit of Rs 17.5 thousand. Tax exemption on family pension increased from Rs 15 thousand to Rs 25 thousand.
3. For first-time job seekers
If the salary is less than Rs 1 lakh, people registering with EPFO for the first time will get assistance of Rs 15,000 in three installments.
4. For Education Loan
Those who are not getting any benefit under government schemes will get loans for admission to institutions across the country. The government will give up to 3 percent of the loan amount. For this, e-vouchers will be introduced, which will be given to one lakh students every year.
5. For Bihar and Andhra Pradesh
Assistance of Rs 58.9 thousand crore to Bihar and Rs 15 thousand crore to Andhra Pradesh.
6. Budget for these states also
Special scheme for infrastructure development for Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh. Vishnupad Temple Corridor and Mahabodhi Temple Corridor will be built in Bihar. Nalanda University will be made a tourism center.
7. For farmers
Information of 6 crore farmers will be brought to the land registry. New Kisan Credit Cards will be issued in 5 states.
8. For youth
Mudra loan amount increased from Rs 10 lakh to Rs 20 lakh. The promise of internship to 1 crore youth in 500 top companies.
9. For women and girls
Provision of Rs 3 lakh crore for schemes benefiting women and girls.
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10. For Solar
Under the Surya Ghar Free Electricity Scheme, free electricity up to 300 units every month to 1 crore houses.
