The government is expected to announce some reforms and initiatives to support the economy amid the global economic downturn.
Various relief measures are expected from the budget (EU Budget 2023) including the salaried class, pensioners and common people. While the salaried class expects the budget to help reduce their tax liability and increase their take home pay.
Union Finance Minister Nirmala Sitharaman arrived at the Finance Ministry in the north block of the Central Secretariat building on Wednesday morning ahead of the presentation of the budget in Parliament today.
Delhi | Finance Minister Nirmala Sitharaman arrives at the Finance Ministry 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 form as the previous two.
In 2021, the government presented the first paperless budget.
On Tuesday, Sitharaman presented the Economic Survey for the financial year 2022-23 to the Lok Sabha, declaring that India’s economic recovery from the Covid pandemic is complete.
This is 7 percent in this fiscal year, and 8.7 percent in the 2021-2022 period.
In light of the upcoming budget, top business leaders of the country have also made recommendations to Nirmala Sitharaman.
The Parliament’s budget session began on January 31 with a speech by Speaker Droupadi Murmu at a joint session of the two Houses.
The president spoke on several topics in his inaugural address, his first since being elected to the nation’s highest office last year. Among others, he mentioned about women empowerment, India’s defense exports and implementation of Aatmanirbhar Bharat by 2047.
Prime Minister Narendra Modi spoke to the media outside Parliament ahead of the President’s address.
Prime Minister Modi stated that India’s budget will try to meet the hopes and aspirations of the common citizens despite the unstable economic situation in the world.
