Budget 2023-24: Where does the rupee come from, and where does it go?

Budget 2023: The largest share of the Centre's expenditure goes towards paying the interest on borrowings

Finance Minister Nirmala Sitharaman announced the Union Budget for 2023-24 on Wednesday. This was Sitharaman's fifth consecutive Budget and the last full Budget in this government's tenure. One of the major announcements FM Sitharaman made was around the new income tax regime. The tax exemption limit has been raised from Rs 5 lakh per annum to Rs 7 lakh. Also, the benefits of standard deductions have been extended to the salaried class and pensioners. 

This is likely to have a positive impact on the income of the Indians.

"The slab rates have been tweaked which provides relief to salary taxpayers