FM Nirmala Sitharaman to brief BJP MPs on Budget 2023 on February 3
By Team Newsable | First Published Feb 2, 2023, 4:55 PM ISTIn her budget speech, FM Sitharaman proposed to increase the agricultural credit target to Rs 20 lakh crore with a focus on animal husbandry, dairy and fisheries. The agriculture sector of the country has been growing at an average annual growth rate of 4.6 percent in the last six years.
Union Finance Minister Nirmala Sitharaman will on Friday (February 3) hold a briefing for the BJP MPs both of Lok Sabha and Rajya Sabha. The finance minister's briefing has come days after she presented the Narendra Modi government's last full budget ahead of the 2024 Lok Sabha elections. She will explain the budget to the MPs in the meeting.
It is reportedly said that the briefing will be held at 9 am at the Balayogi Auditorium in Parliament Library Building in the national capital. All MPs have also been informed.
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This briefing comes at a time when the party has asked all its members of Parliament to go to the respective constituencies and tell the common man what the budget means and how it has been brought out, keeping the interest of every stratum of society in mind.
On Wednesday, FM Sitharaman announced an increase in the income tax rebate limit from Rs 5 lakh to Rs 7 lakh stating that the new tax regime will now be the default tax regime.
The Finance Minister also proposed to change the tax structure in this regime by reducing the number of tax slabs to 5 and increasing the tax exemption limit to Rs 3 lakh.
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The Centre also proposed to increase capital expenditure outlay by 33 percent to Rs 10 lakh crore in 2023-24, which would be 3.3 percent of the GDP.
In her budget speech, FM Sitharaman proposed to increase the agricultural credit target to Rs 20 lakh crore with a focus on animal husbandry, dairy and fisheries. The agriculture sector of the country has been growing at an average annual growth rate of 4.6 percent in the last six years.
The Finance Minister further said that the government intends to bring the fiscal deficit below 4.5 percent of GDP by the financial year 2025-26.
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