Key highlights of the proposed Income Tax changes in Union Budget 2023-24 for easy digest


Union Budget 2023-2024 was presented in Parliament on Wednesday, February 01, 2023. The Hon’ble Finance Minister Smt. Nirmala Sitharaman stated that the Indian economy has been recognised as a ‘bright star,’ which is expected to grow at 7% in the current year, the highest among major economies worldwide.

The Union Budget 2023-24 being presented as first in the Amrit Kaal, held much significance, given that the country’s next Lok Sabha election is set for April–May 2024. The Union Budget is worthy as it includes a technology-driven and knowledge-based economy with strong public finances and a robust financial sector. 

Presenting the Union Budget for 2023-24, Finance Minister said that the Budget adopts the following seven priorities, which complement each other and act as the ‘Saptarishi’ guiding us through the Amrit Kaal:

  1. Inclusive Development
  2. Reaching the Last Mile
  3. Infrastructure and Investment
  4. Unleashing the Potential
  5. Green Growth
  6. Youth Power
  7. Financial Sector

This document summarises the key highlights of the Income Tax Proposals for easy digest.

The Complete Document can be accessed at: