INDIA'S ECONOMY WILL GROW 6.5% IN 2023–2024, SAID FM NIRMALA SITHARAMAN IN TODAY'S BUDGET SPEECH

 

India's GDP will grow by 6.5% in fiscal 2024, predicts the Economic Survey, which the government unveiled the day before delivering the Union Budget. The finance minister, Nirmala Sitharaman, delivered the Economic Survey, her sixth since the year 2019. The Economic Survey was presented after President Draupadi Murmu's speech to the legislature.

President Murmu remarked as she spoke.

On the first day of the Budget session, President Murmu lauded the "fearless, determined government" that is currently in charge of India as she addressed a joint session of parliament. "The government will soon be nine years old. The biggest change right now is how confident everyone is in India. India is currently establishing itself as a world problem-solver." President Murmu said in her inaugural speech.

The Economic Survey will be given the day before the Union Budget is delivered to the House of Representatives. The first stage of the budget session ends on February 13 and the second stage lasts from March 13 to April 6.

Union budget Highlights for 2023–24

1) How much house loan interest may you deduct?

Around Rs. 2 lakh is the highest amount that can be deducted as loan interest.

2) How much is the National Pension System (NPS) now contributing?

Currently, a voluntary contribution of 50,000 rupees is eligible for a deduction under section 80CCD (1B) of the Act.

3) How many taxpayers are there in India?

Salary workers make up the majority of tax payers in India, which has more than 80 million taxpayers.