Highlights of Union Budget 2023-24 in India â...

Highlights of Union Budget 2023-24 in India – An Analysis

Author Name : Dr. G. Yoganandham

DOI: https://doi.org/10.56025/IJARESM.2023.111023171

ABSTRACT A budget is a financial document that predicts future income and expenses. Simply put, a budget forecasts future savings and spending, as well as revenue and expenses. The Union Budget of a year, also known as the yearly financial statement, is a statement of the government's expected receipts and expenditures for that year, according to Article 112 of the Indian Constitution. Due to simplified tax slabs and higher tax rebates, India's middle-class salaried population benefited from the Union Budget 2023–24. It includes the fiscal year's earnings and outlays. One of the most important implications for the budget was the introduction of simplified tax slabs and a rise in tax rebates. However, the new tax structure, including the simplified tax bands, was deliberately designed that way in order to appeal to more people