Union Budget 2023: Five BIG expectations of middle class
Finance Minister Nirmala Sitharaman will present Union Budget for 2023-24 in the Lok Sabha on February 1 amid expectations that the government will raise the income tax limit and provide relief to middle-class taxpayers, besides others.
Will there be a change in income tax slab?
![Will there be a change in income tax slab? Will there be a change in income tax slab?](https://english.cdn.zeenews.com/sites/default/files/2023/01/16/1142188-income-tax.jpg)
Speaking about middle-class taxpayers, Finance Minister Nirmala Sitharaman said that she herself belongs to the middle class and can understand the pressure a middle-class family goes through. She said that the Modi government has not imposed any fresh taxes on the middle class. Sitharaman was probably hinting that a change in tax structure is unlikely this year.
Middle class demanding job creation measures
![Middle class demanding job creation measures Middle class demanding job creation measures](https://english.cdn.zeenews.com/sites/default/files/2023/01/16/1142187-jobs-1.jpg)
The middle class is urging the Union Budget to place a strong emphasis on job creation initiatives. Due to significant employment losses brought on by the epidemic, many middle-class families are now struggling to make ends meet. To give the middle class opportunities to earn a living, the government must take action to create jobs in crucial industries like manufacturing, technology, and infrastructure.
Increase the deduction for Health Insurance under section 80D
![Increase the deduction for Health Insurance under section 80D Increase the deduction for Health Insurance under section 80D](https://english.cdn.zeenews.com/sites/default/files/2023/01/16/1142186-health.jpg)
Insurance sector demands lowering of GST
![Insurance sector demands lowering of GST Insurance sector demands lowering of GST](https://english.cdn.zeenews.com/sites/default/files/2023/01/16/1142184-insurance-1.jpg)
Insurance sector is demanding from the Union Budget 2023 that health insurance and life insurance should not be subjected to GST. Additionally, in the health insurance category, there should be a larger deduction limit for health insurance premiums in Section 80D of the Income Tax, says Insurance sector.
Moving Tuition fees of children to a separate provision under Section 80 C
![Moving Tuition fees of children to a separate provision under Section 80 C Moving Tuition fees of children to a separate provision under Section 80 C](https://english.cdn.zeenews.com/sites/default/files/2023/01/16/1142183-jobs-2.jpg)