Budget 2023: Tax, Development, Infrastructure – Words That Dominated FM Sitharaman’s Speech the Most
The word “Tax” was used by Finance Minister Nirmala Sitharaman forty-three times in her 85-minute long speech while presenting Budget 2023-24 on Wednesday. Development (28), Infrastructure (26) and Digital (21) were some other most-used words in the Finance Minister’s speech.
Sahil Deo, a quantitative social scientist, shared word frequencies from Sitharaman’s speech on Twitter. The Finance Minister also used the words — Capital (18) and Investment (16)– several times.
Tax was mentioned the most, 43 times. The next most-mentioned words were development (28 times) and infrastructure (26 times).Digital was mentioned 21 times.Words related to agriculture were mentioned as followed : agriculture and agricultural (11 and 3 mentions)1/2
— Sahil Deo (@DeoSahil) February 1, 2023
Finance minister Nirmala Sitharaman presented her fifth Union Budget 2023-24 today ahead of the crucial 2024 Lok Sabha elections that lasted for nearly 1 hour 25 minutes. The biggest takeaway from her speech was the shake-up in the new tax regime for the middle class.
The government announced zero income tax for those earning up to Rs 7 lakh from the earlier Rs 5 lakh under the new regime. It also proposed to reduce highest surcharge rate from 37% to 25%. Also, the limit of 3 lakh on leave encashment increased to 25 lakh.
Other key highlights included an increase in the capital investment outlay by 33% to Rs 10 lakh crore, which will account for 3.3% of the GDP, fiscal deficit at 5.9% of GDP, and the “highest-ever” outlay for Indian Railways at Rs 2.40 lakh crore.
The finance minister said “Sapthrishis guiding us through Amrit Kaal” while outlining seven priorities namely inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector in Budget 2023.
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