Budget session is likely to begin on January 31 and is expected to conclude on April 6 with a recess in between. Finance Minister Nirmala Sitharaman will present the budget on the Parliament on February 1.
The Union Budget 2023 will be presented by Finance Minister Nirmala Sitharaman on the Parliament on February 1.
A year ago, Finance Minister Nirmala Sitharaman laid out a vision for India’s growth in the next 25 years. Infrastructure investment and increasing agriculture output, cutting reliance on imports are all part of the plan, but some serious work still needs to be done on course.
Experts therefore predict Budget 2023 is likely to be growth-oriented with a focus on manufacturing, infrastructure, and the rural economy.
The Modi government is likely to continue promote growth with a focus on local manufacturing and exports, keeping in sync with the Make-in-India agenda, particularly a demand-driven strategy.
While the Indian economy rode out the pandemic better than most globally, inflation coupled with increasing taxes have been burdensome for the salaried class. Relief on that front, both direct and indirect would be a legitimate expectation.
By most estimates, India is now the world’s most population and easily has the largest youth population on the planet.
The need for higher disposable incomes along with tax exemptions and widening of slabs, while also addressing the issue of unemployment and making housing affordable for the working class and rural citizens are long-term goals.
The first part of the budget session 2023 is expected to continue till February 10. The complete session is likely to begin on January 31 and is expected to conclude on April 6 with a recess in between.