100 labs for developing apps using 5G services will be set up in engineering institutions. To realise new range of opportunities, business models and employment potential, labs will cover among others, apps such as smart classrooms, precision farming, intelligent transports systems and healthcare, announced FM Sitharaman.

Budget 2023 Live Updates: FM Sitharaman says…

Phase 3 of the eCourt’s project will be launched with an outlay of Rs 7,000 crore, for efficient administration of justice.

Budget 2023 LIVE Updates: FY24 fiscal deficit pegged at 5.9% of GDP

The Union Budget has fixed the fiscal deficit target for 2023-24 at 5.9 percent of GDP. This would represent a reduction of 50 basis points from this year’s fiscal deficit target of 6.4 percent, which Finance Minister Nirmala Sitharaman said would be met.
As per data released on January 31, the Centre’s fiscal deficit for the first nine months of 2022-23 accounted for 59.8 percent of the full-year target.

Next year’s target is in line with economists’ expectations of 5.9 percent. However, some questions have been raised – particularly by global ratings agencies like Moody’s Investors Service and Fitch Ratings – about how the medium-term target of 4.5 percent will be met by 2025-26.

Budget 2023 LIVE Updates: Personal finance proposals

One-time, new savings scheme for women with a tenure of two years to offer 7.5 percent interest rate with partial withdrawal option.

For senior citizen maximum deposit limit for saving will be from 15 lakh to 30 lakh

Investment limit in small savings schemes like Senior Citizen Saving schemes (SCSS) increased to Rs 30 lakh from 15 lakh earlier.

Investment limit in Monthly income scheme (MIS) increased to Rs 9 lakh, up from rs 4.5 lakh, for single account. For joint accounts the limit has gone up to Rs 15 lakh, up from Rs 9 lakh.