Union Budget 2023-24, which will be the last full Budget before the 2024 general elections, will be presented by Finance Minister Nirmala Sitharaman today.
The Finance Minister on Wednesday morning arrived at the Ministry of Finance in North Block ahead of the Budget presentation in Parliament.
The Finance Minister will table the Union Budget 2023-24 at 11 am in Lok Sabha today, following which she will address the House.
This is the Finance Minister’s fifth Budget presentation since 2019.
The government will present the Union Budget in paperless form like the previous two ones. The government had presented the first paperless budget in 2021.
Since taking charge in 2014, Prime Minister Narendra Modi has sharply increased investments in the infrastructure sector including roads and highways to create more jobs and spur economic growth. The agricultural and rural sector have been a priority area and various social welfare schemes are also expected to be announced.
The budget is also expected to announce various incentives to encourage manufacturing in the country and generation of employment.
On Tuesday, Sitharaman tabled the Economic Survey for the Financial Year 2022-23 in Lok Sabha, which said that India’s economic recovery from the Covid pandemic is complete and the economy is expected to grow in the range of 6 per cent to 6.8 per cent in the coming financial year 2023-24.
This is in comparison to 7 per cent this fiscal and 8.7 per cent in 2021-22.
In view of the upcoming budget, top business leaders of the country have also put forward their suggestions for Nirmala Sitharaman.
The Budget Session of the Parliament began on January 31 with President Droupadi Murmu’s Address to the joint session of both houses.
The President touched upon various subjects during her inaugural address, which was her first one after being elected to the topmost office of the country last year. She mentioned women empowerment, India’s defence exports, and Aatmanirbhar Bharat by 2047 among others.
Ahead of the President’s Address, Prime Minister Narendra Modi addressed the media outside the Parliament.
Prime Minister Modi said that India’s Budget will attempt to meet the hopes and aspirations of the common citizens amid the unstable global economic situation.
“Our Finance Minister will present one more Budget before the country tomorrow. In today’s global circumstances, not only India but the entire world is looking at India’s budget,” PM Modi said.
Also read: India’s economy has recovered from Covid and is poised to do better, says CEA
Economic Survey pegs India’s GDP growth at 6 to 6.8% for 2023-24
