Tag: Budget 2023

Budget 2023: Retail sector to benefit from push towards local manufacturing

Custom duty exemptions will also be provided for the manufacturing of lithium-ion batteries for another year. This will help drive the broadening of the local component ecosystem and increase domestic value-addition. (Representative Image: Jason Leung via Unsplash)

From rejig in custom duties on various commodities to focus on emerging AI technology, FM’s focus has been on making India a manufacturing hub.

Budget 2023: Gaming community applauds introduction of section 194BA for winnings from online games

Although the budget didn’t specifically bring out matters of concern related to Animation, Visual Effects, Gaming and Comic (AVGC) sector, stakeholders in the gaming and esports space are glad that attention is given to bring in development that would positively impact the sector. The increased mobile phone production and the announcement of focus on 5G based applications are good news for esports brands

Removal of TDS threshold of Rs10000, introduction of 194BA, focus on 5G based apps: Key takeaways for gaming and esports brands.

Budget 2023 is for the aam aadmi but will it spur consumption?

The tax exemption is a positive development for the lower end of consumption as the lower and middle class will have more disposable income, said analysts. (Representative Image: Ayaneshu Bhardwaj via Unsplash)

Budget 2023-24: The tax exemptions is a positive development for the lower end of consumption as the lower and middle class will have more disposable income, analysts say.

Budget 2023: FM announces reduction in customs duty; smartphones, TV sets to get cheaper

The overall impact of this volume decrease, however, is mitigated by 11 percent growth in the Average Selling Price (ASP).(Representative Image: shri via Unsplash)

The basic customs duty rate has been reduced from 21 percent to 13 percent other than textiles, making a host of articles cheaper. Cigarettes to become costlier.

Budget 2023: What’s in it for Gen Z?

The Finance minister also had an announcement for kids and adolescents during her Budget presentation. Nirmala Sitharaman declared the setting up of a national digital library for children and adolescents for facilitating the availability of quality books across the country. (Representative Image: "My Life Through A Lens" via Unsplash)

Here’s a break-up of what the Budget 2023 holds for the youth in the country.