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What's in store for senior citizens and women?

Budget 2023 introduced a standard deduction of 50,000 for individuals opting for the New Tax Regime (NTR).

The investment limit for Senior Citizen Saving Schemes (SCSS) has been doubled from 15 lakhs to 30 lakhs with an assured interest rate of 8% per annum.


The investment limit for Post Office Monthly Income Scheme (PMOIS) is  9 lakhs for single accounts and 15 lakhs for joint accounts with an assured interest rate of 7.1% per annum.

Tax benefits under Section 80C are only available to those opting for the old tax regime.


A new scheme - Mahila Samman Savings Certificate - has been introduced in the budget 2023, allowing women to save up to 2 lakhs with an assured interest rate of 7.5% per annum.


 These schemes help senior citizens, pensioners and women to fight inflation and secure their future financially.


Through these measures, the government encourages people to save and invest more for their future objectives.


Click here to know more about the Budget highlights.

Check here for more budget related stories.


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I-T department to conduct scrutiny where assessees failed to respond to taxmen's notices

<ul><li>The department will also undertake cases for scrutiny where specific information regarding tax evasion has been provided by any law enforcement agencies or regulatory authorities.</li></ul>

Maruti Suzuki expects production loss in Q1; anticipates some relief from July

<ul><li>The country's largest carmaker has been facing a shortage of chips for a while which has impacted its supplies to cater to the market demand.</li></ul>

Mcap of 7 of top-10 most valued firms jumps ₹1.51 lakh crore; Reliance, TCS biggest gainers

<ul><li>While Reliance Industries, Tata Consultancy Services (TCS), Hindustan Unilever, ITC, Infosys, State Bank of India and Bharti Airtel made gains in their market valuation, HDFC Bank, ICICI Bank and HDFC faced erosion.</li></ul>

FPIs invest ₹37,316 crore in May on strong domestic macro fundamentals, reasonable valuation

<ul><li>This is the highest investment by FPIs in the last six months. Before this, they made a net investment of ₹36,239 crore in equities in November 2022, data available with the depositories showed.</li></ul>

Global trends, macroeconomic data to drive equity markets this week: Analysts

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<ul><li>On the global front, the US debt ceiling issue holds significant importance, alongside US macroeconomic indicators, movement of the US bond yields, the dollar index and crude oil prices, said Santosh Meena, Head of Research, Swastika Investmart Ltd.</li></ul>

Budget 2023: What did it bring in for senior citizens and women?

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