Union Budget 2023 empowers 130 cr Indians: UP CM Yogi Adityanath

Lucknow (Uttar Pradesh) [India], February 1 : Hailing the Union Budget 2023-24, Uttar Pradesh Chief Minister Yogi Adityanath on Wednesday said it has a vision for growth and development and empowers 130 crore Indians.
"This budget has a vision for growth and development. People in villages, women, rich or poor, everyone is going to benefit from this. This empowers 130 crore Indians. I thank Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for preparing such a progressive budget," CM Yogi told ANI.
Meanwhile, Prime Minister Narendra Modi said that the Union Budget 2023 is for a sustainable future that would further encourage green energy and infrastructure resulting in jobs while underlining the potential of the middle class in realizing the dreams of 2047.
The Prime Minister said that the government has focused on technology in the budget.
"This budget is for a sustainable future further encouraging green energy, green growth, green infrastructure, and green jobs. We have focused on technology & new economy in the budget," PM Modi said reacting to the budget.
Referring to the latest tax rebates, the Prime Minister said that it has given relief to the middle class and underlined the potential of the middle class in realizing the dreams of 2047.
The Prime Minister informed that in order to empower the middle class, the government has taken many significant decisions in the past years that have ensured Ease of Living.
"India's middle class remains a major stream in every sphere of life. The middle class is a huge force to fulfill the dream of a prosperous and developed India. Our government has taken several steps to empower the middle class and ensure ease of living. We have reduced tax-rate and have given relief accordingly," he said.
Finance Minister Nirmala Sitharaman presented the Union Budget 2023 today in Lok Sabha. This was the third time in a row that the government presented the budget in a paperless form.
Notably, Union Finance Minister Nirmala Sitharaman on Wednesday announced an increase in the income tax rebate limit from Rs 5 lakh to Rs 7 lakh stating that the new tax regime will now be the default tax regime. The Finance Minister also proposed to change the tax structure in this regime by reducing the number of tax slabs to 5 and increasing the tax exemption limit to Rs 3 lakh.
On personal income tax, the FM announced that "Tax for income of Rs 0-Rs 3 lakh is nil, for income above Rs 3 lakh and up to Rs 5 lakh will be taxed at 5 per cent, for income of above Rs 6 lakh and up to Rs 9 lakh will be taxed at 10 per cent and for income above Rs 12 lakh and up to Rs 15 lakh to be taxed at 20 per cent and above 15 lakhs at Rs 30 per cent."