The government will announce the federation budget for 2023 in a few days. This budget will be the last complete budget before the 2024 Lok Sabha elections.
In such a situation, the government can make some important announcements in this budget. At the same time, no changes have been made to the government income tax schedule for many years. But Finance Minister Nirmala Sitharaman has now given an idea of the income tax schedule.
Every year, before the EU budget, citizens apply for tax exemption. They expect the government to provide relief to taxpayers to help them deal with inflation. This year, the people also approved the request to change the tax schedule. Meanwhile, Finance Minister Nirmala Sitharaman said she herself is middle-class and can understand the pressures of a middle-class family.
Sitharaman said in the program that the current Modi government has not imposed any new taxes on the middle class. He also said that income up to Rs 5,000 is exempt from income tax. Let us announce that the country’s Finance Minister Nirmala Sitharaman will present the Union Budget for the period 2023-24 in the Lok Sabha on the 1st of February. The government is likely to inform different areas of this budget.