Union Budget 2023 – There will be a big announcement for those investing in PPF! What good news will be found in ‘Budget 2023-24’?
Union Budget 2023: The country’s economy remained almost stable in 2022 after recovering to a great extent from the Corona crisis. In such a situation, people have high expectations from the 2023 budget. As the budget date is getting closer, the curiosity of people is increasing that what will be special for them this time?
There are two types of opinions among economic experts on the upcoming budget. Some experts believe that there is no expectation of major changes in the budget in view of inflation and the current market conditions. However, a section of economic experts is expecting major reforms in the 2023 budget. He believes that this time the Finance Minister can make a big announcement, especially in matters related to tax relief.
Some experts, who are closely monitoring the process of budget preparation, believe that there is little chance of major reforms or changes in this budget. However, he believes that tax exemption and the exemption for different categories of taxpayers can be announced in the 2023 budget. A big reason for this is that this is the full budget of the second term of the Modi government. People are hopeful that this time’s budget will give a glimpse of the Modi government’s preparations for the 2024 general elections.
In the pre-budget consultation meetings, many veterans have appealed to the government to change the tax slab and increase the scope of tax exemption. In the pre-budget consultation meetings, the demand which was focused on the most was to increase the scope of the Public Provident Fund (PPF) from 1.5 lacks to 3 lacks.
Taxpayers are expecting the scope of exemption under 80C to be increased. This will provide relief to children’s education expenses, education loans, expenses incurred on buying a house, and expenses incurred on post-retirement plans.