The Union Budget 2023 is almost complete. It will be interesting to see how the government manages expectations and addresses fiscal deficit targets as this will be the last full Budget of the current administration.
The final phase of Budget preparations for the Union Budget 2023-24 began with the Halwa ceremony in the presence of Union Finance & Corporate Affairs Minister Smt. @nsitharamanhere today.
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— Ministry of Finance (@FinMinIndia)
January 26, 2023
And now we have answers to all the concerns and questions raised during the presentation of Budget 2023. Like:
Union Budget 2023 Date and Time
On Wednesday, February 1, this year’s Union Budget will be presented. However, live streaming of the Union Budget presentation will begin at 11 am on official channels.
|
Financial year |
Union Budget 2023-24 |
|
Presented above |
Congress |
|
Presented by |
Finance Minister Nirmala Sitharaman |
|
Presentation date |
February 1, 2023 |
|
Released by |
Central gorvenment |
|
Designated by |
President of India |
|
Button organization |
Economic room |
Who will present the Union Budget?
On February 1, Finance Minister Nirmala Sitharaman will announce the Union Budget. Sitharaman will present the fifth Union Budget. The Finance Minister’s 2022 budget speech is about 1.5 hours long. Her 2021 budget speech lasted 2 hours and 40 minutes, making it the longest speech in India’s history.
Who presented the first budget in India after independence?
Budget 2023 Watch when and where
Lok Sabha TV, Rajya Sabha TV, DD News and other news channels will telecast the Union Budget 2022 live. Instead, viewers can visit the official Twitter and Sansad TV accounts of the parliament as well like the official YouTube accounts of Doordarshan and Lok Sabha to watch the Budget 2023 speech.
Check – Live updates on budget 2023 and latest news
“Union Budget Mobile Application” is a bilingual application created by the Ministry of Finance, accessible on both Android and iOS devices. The Union Budget Web Portal, available at www.indiabudget.gov.in, is where you can download this app. After the conclusion of the finance minister’s speech on the budget in Parliament on the scheduled date, all 14 documents of the Union Budget, including the Annual Financial Report (commonly known as the Budget) , Need for Funding (DG), Finance Bill, etc., will be accessible on the app.
Download – Economic Survey 2023 PDF
Indian Budget 2023: Parliamentary Budget Session
The Budget session is expected to last until February 10. After a break for standing committees to consider funding requests from ministries and agencies, phase 2 of the budget session was initially scheduled to begin on March 6 and end on April 6.
Who gave the longest Budget speech in India?
Projected 2023 budget
Based on Devyani Jaipuria (Chairman Dharav High School, Vice Chairman- DPS International Gurugram, DPS 45 & DPS Jaipur)“Contributing a major share in the economy, the education sector has been given focus and attention in the Union Budget every year when necessary. The recently introduced National Education Policy is very encouraging. Increase in expenditure Targeting GDP from 1.7% to 6% will help open up more opportunities and bring education for all closer to success. We have similar expectations for the upcoming budget. After all In addition to the progressive reforms in the NEP, we hope the Union Budget will announce development plans for areas such as digitalisation, internationalization of higher education, investment in skill development and emphasis on emphasis on regional languages in technical and medical education etc. Additionally, with technology taking center stage, new job sectors such as Animation, Visual Effects, Games and Comics (AVGC ) is booming and needs support to develop. Therefore, we expect the upcoming Budget to be exemplary and help the education sector breathe easier after the ongoing capital crisis.”
The Finance Minister is expected to introduce tax-related relief measures and/or changes to income tax slabs, which will be of concern to income tax payers, especially those belonging to the working class. salary, very hopeful about that. During the presentation of the Union Budget 2023, common people will be eagerly waiting for FM Sitharaman’s announcement on the changes to the income tax slab as these changes will have a significant impact on their finances . Additional assumptions of the Union Budget 2023 include:
Restructuring income tax slabs
In this pandemic era, people’s income is decreasing every year due to inflation and rising costs of living. Many hope and predict that the government will take these factors into account when reorganizing the tax slabs to reduce the tax burden on the public.
Increase the standard deduction limit again after year 20
For salaried workers, the standard deduction was first introduced in 2018 with a $40,000 exemption; this exemption was later raised to $50,000 in the interim budget for 2019. With costs rising and global inflation out of control, ordinary workers also predicted that the This will increase.
Increase in exemption limit under Section 80C
The public can now make many qualified investments under Section 80C of the Income Tax Act and get a deduction of up to 1.5 lakh. Many members of the public predict that this limit will be increased to ₹2 lakh in this year’s Union Budget.
Who gave the shortest Budget speech in India?
The annual budget of the Republic of India is known as the Union Budget of India, also known as the Annual Financial Statement under Article 112 of the Constitution of India. For it to be implemented before the start of the new financial year in April, the Government will present it on the first of February. The focal agency responsible for budget preparation is the Department of Economic Affairs (DEA) under the Ministry of Finance.
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Source: pagasa.edu.vn