Union Budget 2023: Finance Minister Nirmala Sitharaman will shortly present the budget. It is her fifth budget for the financial year 2023-24. As every budget is special but this budget has attracted more attention because it is the last budget of Modi government before the general election 2024. Everyone has pinned hopes and expectation on the upcoming budget.
It is expected that the government may announce some reforms and initiatives to support the economy amid the global economic downturn.
There are speculations that various relief measures are expected from the budget (Union Budget 2023) including some relief for the salaried class, pensioners and common man. While the salaried class expects the budget to help reduce their tax liability and increase take-home pay.
Union Finance Minister Nirmala Sitharaman arrived at the Ministry of Finance in the North Block of the Central Secretariat building on Wednesday morning, ahead of the Budget presentation in Parliament today.
Delhi | Finance Minister Nirmala Sitharaman arrives at the Ministry of Finance, ahead of the Budget presentation pic.twitter.com/XzWkXKeV8J
— ANI (@ANI) February 1, 2023
The government will present the Union Budget in the same paperless format as the previous two.
In 2021, the government presented the first paperless budget.
On Tuesday, Sitharaman presented the Economic Survey for the Fiscal Year 2022-23 to the Lok Sabha, stating that India’s economic recovery from the Covid pandemic is complete.
This compares to 7% this fiscal year and 8.7 percent in 2021-22.
In light of the upcoming budget, top business leaders in the country have also made recommendations to Nirmala Sitharaman.
The Parliament’s Budget Session began on January 31 with President Droupadi Murmu’s Address to the Joint Session of both Houses.
The President spoke on a variety of topics during her inaugural address, which was her first since being elected to the highest office in the country last year. Among other things, she mentioned women’s empowerment, India’s defence exports, and Aatmanirbhar Bharat by 2047.
Prime Minister Narendra Modi spoke to the media outside Parliament before the President’s Address.
Prime Minister Modi stated that India’s Budget will attempt to meet the hopes and aspirations of ordinary citizens despite the world’s unstable economic situation.
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