The Union Budget 2023-24 announcement comes at a time when the world is facing rising inflation, global recession, ongoing Russia-Ukraine war, and many other issues. This will be the last full budget before the general elections in 2024.
The Budget impacts every citizen and sector because it contains the details of expenditure and revenue receipts anticipated for the upcoming financial year. The preparation of this document takes a considerable amount of time.
The process starts in August-September each year, which is nearly six months prior to the final budget day, that is 1 February. The Budget is prepared by the Ministry of Finance after its consultations with the National Institution for Transforming India (NITI) Aayog and all the other concerned ministries.
When to watch the Union Budget 2023?
Finance Minister Nirmala Sitharaman will present the Union Budget 2023-23 on 1 February. In line with the previous years, the presentation is expected to begin at 11 am. The Budget session of Parliament will commence on 31 January with the presentation of the Economic Survey of India. The session is going to continue till 6 April, with a recess from 14 February to 12 March to allow the department-related parliamentary standing committees to examine the demands for grants.
Where to watch the Union Budget 2023?
You can watch the live streaming of the Union Budget on DD News, Lok Sabha TV, Rajya Sabha TV, and other news channels. Viewers can also watch the announcement on the official YouTube and Twitter channels of Lok Sabha and Sansad TV.
Nirmala Sitharaman had reportedly chaired pre-budget consultations with the industry experts last month to gain a better understanding of what the economy wants. The industry bodies, experts, and leaders submitted their proposals for the upcoming Budget in these meetings.
Total amount of last Union Budget
In the last year’s Budget, the government had proposed to spend Rs 39,44,909 crore in 2022-23, showing a rise of 4.6 percent over the revised estimate of Budget 2021-22.
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