Vijay's Vision

Union Budget: 2023-2024 – Income Tax Rates – Analysis -Dr. S. Vijay Kumar Highlights: Revised New Tax Regime: • The basic exemption limit has been hiked to Rs 3 lakh from 2.5 lakh under the new tax regime. • New tax regime to become the default tax regime. However, citizens can opt for the old tax regime. • No tax on income up to Rs 7.5 lakh a year in new tax regime (with inclusion of standard deduction). • To attract more number of tax payers (employees) Rs 50,000 standard deduction has been introduced under the new regime. Hence, an individual having gross income of Rs 7.5 lakh can claim standard deduction and bring the taxable income to Rs 7 lakh in order to pay nil tax under the revised new tax regime. • Govt proposes to reduce highest surcharge rate from 37% to 25% in new tax regime income in case of 5 crore INR in the new tax regime

-Dr. S. Vijay Kumar The Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Union Budget 2023-24 in Parliament on 1- 02 - 2023. The highlights of the Budget are as follows: PART A • Per capita income has more than doubled to ₹1.97 lakh in around nine years. • Indian economy has increased in size from being 10th to 5th largest in the world in the past nine years. • EPFO membership has more than doubled to 27 crore. • 7,400 crore digital payments of ₹126 lakh crore has taken place through UPI in 2022. • 11.7 crore household toilets constructed under Swachh Bharat Mission. • 9.6 crore LPG connections provided under Ujjwala. • 220 crore covid vaccination of 102 crore persons. • 47.8 crore PM Jan Dhan bank accounts. • Insurance cover for 44.6 crore persons under PM Suraksha Bima and PM Jeevan Jyoti Yojana. • Cash transfer of ₹2.2 lakh crore to over 11.4 crore farmers under PM Kisan Samman Nidhi. • Seven priorities of the budget ‘Saptarishi’ are inclusive d

-*Dr. S. Vijay Kumar Raja Ram Mohan Roy was a great son of India who paved the way for various reforms for the development of our country. He was a multifaceted social, religious, political, economic, and educational reformer renowned for his pioneering role in opposing practices like Sati, child marriages, social Divisions and for advocating education. Raja Ram Mohan Roy founded Brahmo Sabha in 1828, which was one of the first Indian socio-religious reform movements. Main aim Brahmo Samaj was the worship of the eternal God. It was against priesthood, rituals, and sacrifices. It focused on prayers, meditation and reading of the scriptures. It believed in the unity of all religions. He was also a great scholar and an independent thinker. Ram Mohan Roy was greatly influenced by western modern thought and stressed on rationalism and modern scientific approach. He was against the perceived polytheism of Hinduism. He advocated monotheism as given in the scriptures. Gopal Krishna G