Budget 2023: What is for telecom sector? DETAILS latest updates nirmala sitharaman finance minister

Image Source : PTI/ REPRESENTATIONAL (FILE). Budget 2023: What is for telecom sector? KNOW DETAILS.

Budget 2023: The government on Wednesday (February 1) allocated Rs 1.23 lakh crore for postal and telecom projects including Rs 52,937 crore capital infusion in state-run BSNL.

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.

Here are the DETAILS

  • Total allocation includes Rs 97,579.05 crore for the Department of Telecom and Rs 25,814 crore for Postal projects, the Budget document presented by Finance Minister Nirmala Sitharaman said
  • State-run BSNL, which is expected to roll out 4G and 5G services this year, will get Rs 52,937 crore capital infusion from the government in 2023-24
  • The government has allocated Rs 2,158 crore for Optical Fibre Cable based network for Defence Services and Rs 715.8 crore for telecom projects in the North Eastern states
  • The Department of Posts has been allocated Rs 25,814 crore and includes Rs 250 crore capital infusion in the India Post Payments Bank

Highlights of budget:

It was presented by the Union Finance Minister which included big incentives under the new income tax regime. The IT rebate limit in the new regime has been increased from Rs 5 lakh to Rs 7 lakh and the new tax regime will be the default tax regime, the Finance Minister said. Capital expenditure outlay has been increased by 33 per cent to Rs 10 lakh crore, accounting for 3.3 per cent of the GDP.

What PM Modi said: 

Meanwhile, Prime Minister Narendra Modi hailed the “first budget of Amrit Kaal” and said that it would lay a strong foundation for building a developed India.

The Prime Minister said that the budget gives priority to the deprived and will fulfill the dreams of the aspirational society, the farmers and the middle class.

(With PTI inputs)

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