New Delhi, Jan 25 (KNN) From next week January 31, 2023 the Budget Session of Parliament will start and extend till April 6, 2023, as per the Ministry of Parliamentary Affairs.

The session will hold 27 sittings over 66 days with a recess from February 14 to March 12 and the Union Budget will be tabled on February 1, 2023.

It is unlikely that the government will announce capital infusion for public sector banks (PSBs) in the forthcoming budget, reported PTI as their financial health has improved significantly and they are on track to earn a combined profit of Rs 1 lakh crore.

Their capital adequacy ratio is much above the regulatory requirement and varies between 14-20 per cent.

To reduce the compliance burden for taxpayers, Ernst & Young (EY) said last week that the government is expected to provide a more rationalised TDS framework.

The Budget wish list of EY also highlights that the government should provide some respite to low- and mid-income taxpayers with annual income up to Rs 20 lakh on the personal income tax side.  (KNN Bureau)