Budget is based on 7 priorities

*Budget is based on 7 priorities:*

1. Green growth.
2. Youth power.
3. Inclusive development.
4. Reaching the last mile.
5. Infrastructure and investment.
6. Unleashing the potential.
7. Launch of digital platform.

Govt to reduce customs duty on shrimp feed to promote exports: FM Sitharaman

Taxes on cigarettes hiked by 16 percent

Basic import duty on compounded rubber increased to 25 percent from 10 percent.

Basic customs duty hiked on articles made from gold bars

Customs duty on kitchen electric chimney increased to 15 percent from 7.5 percent.

Customs duty on parts of open cells of TV panels cut to 2.5 percent.

Govt proposes to reduce customs duty on import of certain inputs for mobile phone manufacturing.

Personal finance proposals,

One-time, *new savings scheme for women with a tenure of two years to offer 7.5 percent interest rate* with partial withdrawal option.

Investment limit in small savings schemes like *Senior Citizen Saving schemes* (SCSS) increased to Rs 30 lakh from 15 lakh earlier.

Investment limit in Monthly income scheme (MIS) increased to Rs 9 lakh, up from rs 4.5 lakh, for single account. For joint accounts the limit has gone up to Rs 15 lakh, up from Rs 9 lakh.

*India's salaried class got its Budget due.* The FM in her speech announced a rebate in the income tax limit to 7 lakh in new tax regime. She also reduced the number of slabs to 5, which will be:

0-3 lakh- nil
3-6 lakh -5%
6-9 lakh - 10%
9-12 lakh-15%
12-15 lakh -20%
Above 15 lakh - 30%

For big earners, the *highest effective tax rate has been reduced from 42.7 percent to 39%.* The FM left *LTCG unchanged*, cheers.

Contact Mrinmoy Chakraborty(Insurance & Investment Consultant) Whatsapp:+919230630841 Email: moneymakingmc@gmail.com.. ...Online investment link:https://bit.ly/3fyjEhC

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