Inflation up by 46% since 2014, section 80C limit hiked by 0%: How much should Budget 2023 increase it?
Section 80C in the current form took shape during the budget of 2005. But the initial limit was only Rs 1 lakh and it clubbed together many previous rebates. This limit was raised to Rs 1.5 lakh per financial year by Arun Jaitley in 2014 during his tenure as the finance minister. Since then, there has been no hike in the 80C limit. This year, it will be 9 years from the previous increase, in 2014.
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