In Pics: 8 ways in which Budget 2023 will affect the common man's pocket

By: FPJ Web Desk | January 18, 2023

By increasing the limit of deductions that can be claimed on health cover premiums under section 80D in Budget 2023, the government can help lower healthcare costs by increasing insurance penetration.

Funds for digitisation of education, investment in skill development and support for edtech growth, can make quality education affordable and more accessible.

Enhancing performance linked incentive schemes for semiconductors and electronics, can make smartphones cheaper by reducing dependence on imports.

Food and fertiliser subsidies may be reduced, leading to a 50 per cent cut in free rations for the poor, after schemes for the same were introduced during the pandemic. They will also affect your household grocery bills.

The real estate sector is expecting more spending on affordable housing and increasing the tax rebates for home loans from Rs 2 lakh to Rs 5 lakh, to make home and rents cheaper.

More PLI schemes such as FAME for EV firms, can make e-bikes cheaper, and cut down daily fuel costs for households via electrification of mobility.

Increasing subsidies on LPG from Rs 200 can reduce kitchen expenses and cheaper commercial LPG can control restaurant bills.

Doing away with excise duty and bringing petrol and diesel under the GST net, will reduce pressure of fuel prices on consumers.