Key takeaways from Finance Minister’s ‘Amrit Kaal’ budge speech

News Network
February 1, 2023

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New Delhi, Feb 1: Presenting her fifth annual Budget, Finance Minister Nirmala Sitharaman on Wednesday said that the government is adopting seven priorities to guide India through the Amrit Kaal. Major announcements for taxpayers were also made in the Budget.

"The budget adopts following seven priorities -- inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector," the Finance Minister said. Amrit Kaal is described by the government as the 25-year period culminating in the centenary of India's independence. The finance minister said seven priorities of the budget complement each other.

She said four transformative opportunities can be used in Amrit Kaal for enhancing economic empowerment.

Here are the highlights of the Budget Speech:

* The FM proposed to increase income tax rebate limit from Rs 5 lakh to Rs 7 lakh under the new tax regime

* The new tax rates are 0 to Rs 3 lakhs - nil, Rs 3 to 6 lakhs - 5%, Rs 6 to 9 Lakhs - 10%, Rs 9 to 12 Lakhs - 15%, Rs 12 to 15 Lakhs - 20% and above 15 Lakhs - 30% under the new tax regime

* An individual with annual income of Rs 9 lakh will have to pay only Rs 45,000 as tax as opposed to Rs 60,000 earlier, she said. 

* Outlay for capital spending increased 33% to Rs 10 lakh crore in FY24

* The capex allocation is higher than the Rs 7.5 lakh crore budgeted for in the previous year and the highest on record

* Budget allocations increased to Rs 79,000 crore for affordable housing in FY24 under the PM Awaas Yojana

* Rs 35,000 crore to be provided for energy transition

* The FM proposed a cut in customs duty on lab-grown diamonds

* Incentives to replace old, polluting vehicles used by the central and state governments also proposed by teh government

* Revamped scheme for credit guarantee for small and medium businesses from April 1

* Collateral free credit of Rs 2 lakh crore under revamped scheme to be provided

* Increase in public capex key to crowding in private investments

* Integrated IT portal will be set up for reclaiming unclaimed shares and dividends

* Govt proposes to cap deductions from capital gains on investments in residential houses to Rs 10 cr

* Highest surcharge rate reduced from 37% to 25% in new tax regime

* Taxes on cigarettes hiked by 16%

* Basic customs duty hiked on articles made from gold bars

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News Network
February 4,2026

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Ghaziabad: In a tragic incident, three sisters aged 12, 14 and 16 died after jumping from the ninth floor of their apartment in Uttar Pradesh’s Ghaziabad in the early hours of Wednesday. The girls allegedly took the extreme step after becoming deeply obsessed with an online Korean task-based game.

The incident occurred around 2.15 am at a high-rise apartment complex in Bharat City. Before jumping, the sisters — Pakhi (12), Prachi (14) and Vishika (16) — left behind a handwritten note that read, “Sorry, Papa.”

According to police, the girls went to the balcony, bolted the door from inside and jumped one after another. Their screams and the sound alerted their parents, neighbours and security guards. By the time the parents broke open the balcony door, all three had died.

“When we reached the spot, we confirmed that three minor girls, daughters of Chetan Kumar, had died after jumping from the building,” said Assistant Commissioner of Police Atul Kumar Singh.

Visuals from the scene on Wednesday morning showed the bodies lying on the ground, their mother wailing in grief, and stunned neighbours gathering at the complex.

Police said the sisters were heavily influenced by Korean culture and were addicted to an online “Korean love game”, though no specific game has been identified so far. Investigators are examining an eight-page suicide note written in a pocket diary, detailing the girls’ mobile and gaming activities.

“Read everything written in this diary because all of it is true. I’m really sorry. Sorry, Papa,” the note said, accompanied by a hand-drawn crying emoji.

Their father, Chetan Kumar, told police that the girls had even adopted Korean names and had gradually withdrawn from school and daily activities. “They used to say, ‘Korea is our life, Korea is our biggest love. We cannot give it up,’” he said, breaking down.

Police said the parents had recently restricted the girls’ mobile phone usage, which may have triggered distress. “The investigation has not revealed the name of any particular game, but it is evident that the girls were deeply influenced by Korean culture, as mentioned in the suicide note,” said senior police officer Nimish Patel.

The sisters reportedly did everything together, including eating and bathing. Their gaming addiction is believed to have begun during the COVID-19 pandemic, after which they became irregular at school and eventually stopped attending altogether.

Police also revealed that Chetan Kumar is married to two sisters and lives with both wives and their children, all daughters. Two of the deceased girls were daughters of one wife, while the third was their half-sister.

Further investigation is underway.

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News Network
February 4,2026

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An Indian resident who won the Dh20 million (approximately Rs 50 crore) jackpot in Abu Dhabi's Big Ticket draw has told of his joy at sharing his life-changing fortune with a friend.

Shanthanu Shettigar, a shop manager in Muscat, regularly buys tickets for the monthly grand prize draw with one of his closest friends – and the pair won on February 3.

Mr Shettigar, 33, who is from Udyavar in Udupi district of the southern state of Karnataka and has lived in the Omani capital for eight years, said he was left speechless after learning of his success.

“When I first moved to Muscat, many of my colleagues were purchasing Big Ticket, which encouraged me to give it a try,” he said.

“I started buying tickets on my own, and later began sharing tickets with a close friend. The ticket that brought me this win was one we purchased together.”

“Like most people, I receive a lot of spam calls, and I was fully absorbed in my work as well. I knew the live draw was taking place tonight, but I never imagined my name would be announced,” he said.

“When I realised it was real and that I had won, I was honestly speechless. It still hasn’t fully sunk in, but I’m extremely happy.”

Mr Shettigar is not sure how he will spend his share of the money, but encouraged others to take part.

“This win was completely unexpected, so I want to take some time to think things through before deciding what to do next,” he said.

“I would definitely encourage others to participate with Big Ticket, whether with family or friends – you never know when your moment might come.”

The Big Ticket was established in 1992 with an initial first prize of Dh1 million. It is one of the most popular monthly raffles in the UAE.

It has transformed the lives of many people across the Emirates and beyond.

Entry to the Big Ticket Millionaire is Dh500. Tickets can be bought online or at counters at Zayed International Airport and Al Ain Airport.

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News Network
February 1,2026

Bengaluru: Karnataka Deputy Chief Minister D K Shivakumar on Sunday criticised the Union Budget presented by Finance Minister Nirmala Sitharaman, claiming it offered no tangible benefit to the state.

Though he said he was yet to study the budget in detail, Shivakumar asserted that Karnataka had gained little from it. “There is no benefit for our state from the central budget. I was observing it. They have now named a programme after Mahatma Gandhi, after repealing the MGNREGA Act that was named after him,” he said.

Speaking to reporters here, the Deputy Chief Minister demanded the restoration of MGNREGA, and made it clear that the newly enacted rural employment scheme — VB-G RAM G — which proposes a 60:40 fund-sharing formula between the Centre and the states, would not be implemented in Karnataka.

“I don’t see any major share for our state in this budget,” he added.

Shivakumar, who also holds charge of Bengaluru development, said there were high expectations for the city from the Union Budget. “The Prime Minister calls Bengaluru a ‘global city’, but what has the Centre done for it?” he asked.

He also drew attention to the problems faced by sugar factories, particularly those in the cooperative sector, alleging a lack of timely decisions and support from the central government.

Noting that the Centre has the authority to fix the minimum support price (MSP) for agricultural produce, Shivakumar said the Union government must take concrete steps to protect farmers’ interests.

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