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10. In new tax regime, salaried class and Rs 79,145 crore allocated in 2022-23.
pensioners will get standard deduction of 13. The budget allocation for the AYUSH
Rs. 50,000 and family pensioners will get ministry has been increased from Rs
the standard deduction of Rs.15, 000 as 2,845.75 crore to Rs 3,647.50 crore, which is
alike in old regime. a 28 per cent increase.
11. Highest surcharge rate on the income 14. The government will take up the
above Rs 5 crore to be reduced from 37% to eradication of sickle cell anaemia in a
25% under the new tax regime. mission mode. Sickle Cell Disease (SCD) is a
genetic condition and is widespread among
the tribal population in India and in other
vulnerable populations.
Challenges
Rising costs of medical treatment remain
a concern which has remained untouched
in this budget. Current medical insurance
deduction of up to Rs 50,000 to senior
citizens and Rs 25,000 to others seems
Healthcare quite less as health insurance premia has
The Healthcare industry is one of been rising substantially in past few years.
the largest sectors in India and a key Overall the budget seems to have taken a
expenditure area for senior citizens. Below holistic approach in line with the on-going
are the health industry highlights: economic reforms.
12. The health sector has been allocated Rs *The author of this article is a partner
89,155 crore in the Union Budget 2023-24, of Vivek V. Joshi and Associates and is
which is a hike of around 13 per cent over practicing taxation last 15 years.
SENIORS TODAY | ISSUE #44 | FEBRUARY 2023 27
