Guwahati: In advance of Nirmala Sitharaman, the finance minister presenting the final full budget of the Modi administration in its second term, the Union Cabinet met in Parliament on Wednesday under the chairmanship of Prime Minister Narendra Modi.
Sitharaman has began her speech at 11 AM. Union Budget 2023–24 will likewise be delivered electronically, similar to the previous two Union Budgets.
Droupadi Murmu received a visit from Sitharaman, state ministers Pankaj Chaudhary and Bhagwat Karad and TV Somanathan, the finance secretary.
The Finance Minister met the President in the Rashtrapati Bhawan as is customary before going to Parliament to deliver the Union Budget. This is Sitharaman’s fifth budget presentation.
The budget for this year is of great importance because the country’s next Lok Sabha election is set for April or May of 2024.
The President’s message and the introduction of the Economic Survey for 2022–2023 marked the beginning of the Parliament’s budget session on Tuesday.
The formal process to create the annual Budget for the following fiscal year (2023–24) got under way on October 10.
According to the Economic Survey, India’s GDP is projected to increase between 6 and 6.8% in the upcoming fiscal year 2023–2024. This contrasts with the predicted 7% for this fiscal year and 8.7% for 2021–22.
According to the Economic Survey, India’s economy has fully recovered from the Covid epidemic and in the upcoming fiscal year 2023–2024, growth is anticipated to range between 6% and 6.8%. This contrasts with 7.0% for the current fiscal year and 8.7% for 2021–22.