BUDGET 2023-24

  • 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)

  • 16% tax hike on certain cigarettes

  • Import duty on silver bars hiked to align it with gold, platinum

  • Relief provided on Customs Duty on import of certain parts & inputs like camera lens

  • Maximum deposit limit for Senior Citizen Savings Scheme to be enhanced to Rs 30 lakh from Rs 15 lakh

  • One-time new saving scheme Mahila Samman Saving Certificate for women to be made available for 2 years up to March 2025.

  • Brief Report
RBI Monetory policy

RBI Monetary Policy Report (Feb-2023)

  • Increase the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 6.50 per cent with immediate effect.

  • Consequently, the standing deposit facility (SDF) rate stands adjusted to 6.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate to 6.75 per cent.

  • The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting growth.

  • Brief Report by RBI

RBI Monetary Policy Report (Dec-2022)

  • Repo Rate increase by 35bps to 6.25%

  • SDF Rate increase to 6% from 5.65%

  • MSF & Bank rate also increased by 50bps to 6.5% from 6.15%

  • Policy Rate remains Accommodative

  • GDP FY-23 Forecast lowered to 6.8% from 7%

  • RBI keeps key rates unchanged; to focus on withdrawal from accommodative stance

  • CPI Inflation Forecast kept unchnaged 6.7%

RBI Monetory policy

RBI Monetary Policy Report (Sept-2022)

  • Hiked the repo rate by 50 bps to 5.90%.

  • Standard Deposit Facility (SDF) rate and the Marginal Standing Facility (MSF) rate were also increased by the same quantum to 5.65% & 6.15%, respectively

  • Bank rate also increased by 50bps to 6.15% from 5.65%

  • There are no changes in the Cash Reserve Ratio (CRR) and Staturatory Liquid Ratio (SLR) rates, which were 4.50% & 18.00% respectively

  • Brief Report by RBI

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