[Music] this budget envisages sustained efforts on the following nine priorities for generating ample opportunities for all number one productivity and resilience in agriculture number two employment and Skilling number number three inclusive human resource development and social justice four manufacturing and services five Urban Development six energy security 7 infrastructure eight Innovation research and development and nine Next Generation reforms coming to personal income tax rates I have two announcements to make for those opting for the new tax regime first the standard deduction for salaried employees is proposed to be increased from 50,000 to 75,000 rupees similarly deduction on family pension for pensioners is proposed to be enhanced from 15,000 to 25,000 rupees second in the new tax regime the tax rate structure is proposed to be revised as follows 0 to3 lakh rupees nil 3 to 7 lakh rupees 5% 7 to 10 lakh Rupees 10% 10 to 12 lakh rupees 15% 12 to 15 lakh rupes 20% and above 15 lakh rupees 30% as a result of these changes a salaried employee in the new tax regime stands to save up to 17,500 rupes in income tax to improve Social Security benefits deduction of expenditure by employers towards NPS is proposed to be increased from 10 to 14 % of the employees salary similarly deduction of this expenditure up to 14% of salary from the income of employees in private sector public sector Banks and undertakings opting for the new tax regime is proposed to be provided capital gains taxation is also proposed to be hugely simplified short-term gains on certain Financial assets shall henceforth attract a tax rate of 20% while that on all other Financial assets and all non-financial assets shall continue to attract the applicable tax rate long-term gains on all financial and non-financial assets on the other hand will attract a tax rate of 12.5% for the benefit of the lower and the middle income classes I propose the I propose to increase the limit of exemption of capital gains on certain Financial assets to 1.25 lakh rupees per year listed Financial assets held for more than a year will be classified as long-term while unlisted Financial assets and all nonfinancial assets will have to be held for at least 2 years to be classified as long-term unlisted bonds and debentures debt mutual funds and Market linked debentures irrespective of holding period however will attract tax on capital gains at applicable rates I have a couple of proposals for deepening the tax space First Security transaction tax on Futures and options of Securities is proposed to be increased to 0 .2% and 0.1% respectively second for reasons of equity I propose to tax income received on buyback of shares in the hands of recipients for the year 2425 total receipts other than borrowings and the total expenditure are estimated at 32.7 lakh CR rupees and 48.2 lakh CR rupees respectively the net tax receipts are estimated at 2.83 lakh CR rupees the fiscal deficit is estimated at 49% of the GDP participation of women in the workforce through setting up of working women hosts in collaboration with industry and establishing crushes in in addition the partnership will seek to organize women's specific Skilling programs and promotion of Market access for women shg Enterprises to bolster the Indian startup ecosystem boost the entrepreneurial spirit and to support Innovation I propose to abolish the so-called Angel tax for all classes of investors precious metals to enhance domestic value addition in Gold and precious metal jewelry in the country I propose to reduce customs duties on gold and silver to 6% and that of platinum to 6.4% Urban housing under the PM AAS y Urban 2.0 housing needs of 1 CR Urban poor and middleclass families will be addressed with an investment of 10 lakh CR rupees this will include the central assistance of 2.2 lakh CR rupees in the next 5 years a provision of Interest subsidy to facilitate loans at affordable rates is is also envisaged stamp Duty we will encourage states which continue to charge High stamp duty to moderate the rates for all and all and also consider further lowering duties for properties purchased by women this reform will be made an essential component of Urban Development schemes NP s vatalia NPS watala a plan for contribution by parents and gu Guardians for miners will be started on attaining the age of majority uh the plan can be converted seamlessly into a normal NPS account on the Amar Kolkata industrial Corridor we will support development of an industrial node at GAA this Corridor will catalyze Industrial Development of the Eastern region the industrial node at GAA will also be a good model for developing our ancient centers of cultural importance into future centers of modern economy this model shall showcase vas b vasat b in a growth train objective we will also support development of Road connectivity projects namely one Patna Pia Expressway two buar bagalpur Expressway three bodgaya rajar Vali and dabanga spur and four additional two-lane Bridge over River ganga at buer at a total cost of 26,000 CR rupees power projects including setting up of a new 2,400 megawatt power plant at at P penti will be taken up at a cost of 21,400 CR rupees new airports medical colleges and sports infrastructure in Bihar will be constructed an additional allocation to support Capital investments will be provided the requests of Bihar government for external assistance from multilateral development banks will be expedited Andra Pradesh reorganization act our government has made concerted efforts to fulfill the commitments in Andra Pradesh reorganization act recognizing us recognizing the state's need for a capital we will facilitate fi special financial support through multilateral development agencies in The Current financial year 15,000 CR rupees will be arranged with additional amounts in future [Applause] years our government is fully committed to financing and early completion of the poam ination project which is the Lifeline which is the lifeline for Andra Pradesh and its Farmers this will facilitate our country's food security as well under the act under the ACT Andra Pradesh reorganization act for promoting Industrial Development funds will be provided for essential infrastructure such as water power Railways and roads in koperti node on the vishakapatnam Chennai industrial Corridor and wakal node on the Hyderabad Bangalore industrial Corridor an additional allocation will be provided this year towards capital investment for economic growth grants for backward regions of of rasima prasham North Coastal Andra as stated in the ACT will be provided