01 Feb, 16:35 (IST)

 Union Finance Minister Nirmala Sitharaman today presented Budget for 2023-24 wherein she announced new tax slabs in the new tax regime and revised custom duty on select commodities. Prime Minister Narendra Modi hailed the "first Budget of Amrit Kaal" and said that it would lay a strong foundation for building a developed India. Read full story here.

01 Feb, 12:28 (IST)

The income tax exemption limit has been increased to Rs 3 lakh under the new income tax regime, as announced by Finance Minister Nirmala Sitharaman in Budget 2023.

01 Feb, 12:24 (IST)

Finance Minister Nirmala Sitharaman, while presenting Budget for 2023-24, announced to increase the income tax rebate limit to Rs 7 lakh under new tax regime.

01 Feb, 12:20 (IST)

Finance Minister Nirmala Sitharaman, while presenting Budget for 2023-24, announced to increase custom duty on cigarettes. It means cigarettes will get costlier in the coming days.

01 Feb, 12:11 (IST)

Union Finance Minister Nirmala Sitharaman, while presenting the Budget 2023, said the government will set up 100 labs for developing apps using 5G services in engineering institutions.

01 Feb, 11:57 (IST)

The government will launch Pradhan Mantri Kaushal Vikas Yojana 4.0, Finance Minister Nirmala Sitharaman announced in the Budget 2023. "To skill the youth for international opportunities, 30 Skill India International Centres will be set up across different states," she added.

01 Feb, 11:49 (IST)

Union Finance Minister Nirmala Sitharaman in Budget 2023 announced that PAN card will be used as a common identifier for all Digital Systems of specified government agencies for business establishments required to have Permanent Account Number (PAN).

01 Feb, 11:45 (IST)

Union Finance Minister Nirmala Sitharaman, while presenting the Budget 2023, has announced that 50-year interest free loan to state governments will be extended for one more year.

01 Feb, 11:36 (IST)

Union Finance Minister Nirmala Sitharaman, while presenting the Budget 2023, announced that the government will recruit 38,800 teachers for Eklavaya Model Residential Schools to impart quality education in tribal communities.

01 Feb, 11:32 (IST)

Union Finance Minister Nirmala Sitharaman, while presenting the Budget 2023, announced that the government will establish 157 new nursing colleges in colocation with the existing 157 medical colleges established in the country since 2014.

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New Delhi, February 1: All eyes will be on the Union Budget 2023-24, which Union Finance Minister Nirmala Sitharaman will present in Parliament today. Nirmala Sitharaman will table the Budget 2023 in Lok Sabha at 11 am. Budget 2023 could be the last full-fledged Budget of the Modi government in its second term with the next Lok Sabha elections due in April-May of 2024. Stay connected with LatestLY for Budget 2023 live news updates. We will provide instant live updates on the Budget presentation, new income tax slabs and other budgetary announcements.

While the government is expected to make a slew of announcements in the Budget 2023-24 to improve India's economy, its announcement on the income tax will be keenly watched. A section of salaried class people wants the government to raise the income tax exemption limit from existing Rs 5 lakh. They also wish for doubling of Standard Deduction to Rs 1 lakh and hike in deductions under Sections 80C (like PPF contribution) 80D (like health insurance premium). Income Tax Slabs: Know Current Tax Rates for Individuals Under New and Old Tax Regimes Ahead of Budget 2023.

The expectations of various sectors from the Budget 2023 are also out with people sharing their wish list and expressing their demands. According to Union Minister of State (MoS) for Finance Pankaj Chaudhary, the Union Budget for 2023-24 will focus on improving the economic conditions of the people, not the upcoming elections. Here it may be noted that crucial states like Karnataka, Rajasthan and Madhya Pradesh will go to polls this year. Union Budget 2023: Whole World Has Its Eyes on India's Budget, Says PM Narendra Modi (Watch Video).

Union Budget 2023-24 Live Streaming:

"As far as budget is concerned in view of elections, elections keep coming and going, but how to improve the economic condition of the people of the country, Hon'ble Modi ji's attention is always there and it will be seen in this budget also," Chaudhary told news agency ANI. Budget will be in line with the expectations of the general public, keeping in mind all sections of society, the MoS added.

Stay here with us to catch live news updates on the Budget 2023-24 presentation by Union Finance Minister Nirmala Sitharaman in Parliament today.