I-T benefits in Budget 2023 will aid middle-class aspirations: Devendra Fadnavis

“The raising of the income tax exemption ceiling from Rs 5 lakh to Rs 7 lakh will bring huge relief to a sizeable population. Those with an annual income of Rs 15 lakh will have to pay up to Rs 1.5 lakh. In this bracket, a large middle-class population will get covered. The tax benefits will help the middle- and lower-middle classes to a great extent,” he said.

Fadnavis further said the Rs 2 lakh crore credit guarantee was a step towards strengthening the small and medium enterprises (SME), the source of highest employment generation. The interest subsidies will also help in the revival of SMEs, which were adversely affected by the Covid 19 pandemic, said.

He said the Rs 10 lakh crore investments in infrastructure would fast-track the sector across states including Maharashtra.

According to the BJP leader, special schemes to tackle sickle cell anaemia will help adivasis, among whom he said it was prevalent in larger numbers. The mission is to get rid of the disease by 2047.

In the agriculture sector, the scheme to bring one crore farmers under organic farming is challenging, Fadnavis said. Its accomplishment will boost healthy food production and help farmers cut down input expenditure, he added.

Through multi-purpose primary agriculture credits, Fadnavis said, the central government aims to strengthen the cooperative sector at grassroots. Digitisation of the sector will help to make it more efficient and accountable, he added.

Overall, the allocations coupled with slew of welfare schemes announced in the budget will help to give fresh impetus to formal employment and revive closed industries, Fadnavis added.