Budget 2023 No tax up to 7 lakhs mobiles LED TV electric cars will be cheaper finance minister Nirmala Sitharaman

Budget 2023: Finance Minister Nirmala Sitharaman has presented her fifth budget (Budget 2023) today, on 1 February 2023. In this budget, where most people have received good news regarding the change in tax rates. The annual income limit of tax exemption has been increased from Rs 5 lakh to Rs 7 lakh. Now people will not have to pay any tax up to Rs 7 lakh. At the same time, big news has also come out for mobile and laptop devices related to technology. The Finance Minister has announced the reduction of various custom duties on these devices.

After this, a decline can be seen in LED TV, mobile phone, mobile camera lens, electric vehicles, lithium sales. Along with this, 3 Centers of Excellence will be set up in the country to give India an edge in Artificial Intelligence (AI). The aim of the government is to provide world-class education facilities to the youth of the country through this.

During this, Nirmala Sitharaman told that in India in 2022, digital payment of Rs 1.26 lakh crore was done through UPI. Whereas in 2022, a total of 7,400 crore digital payments were made. And in January 2023, UPI crossed 8 billion transactions in a month for the first time.

Digital Library: Finance Minister Nirmala Sitharaman told that a digital library will be set up in the country to facilitate children and youth to read. All schools will also be linked to the digital library. This will benefit all the students and youth located in every corner of the country.

Video KYC: It has also been announced in the budget to complete the KYC process required for opening bank accounts of Jan Dhan Yojana through video calls. Video KYC will be promoted, said Nirmala Sitharaman.