Union Budget 2023: Date, time and who will present it
The Union Budget 2023 is going to be presented on 1 February and the presentation is expected to start at 11 AM, just like previous years
File image of Finance Minister Nirmala Sitharaman posing for pictures as she leaves the finance ministry to present the annual Budget in Parliament. AFP
The presentation of the Union Budget holds a great amount of significance for every citizen of this country. We eagerly wait for the announcement of our nation’s budget every year as it affects the country as a whole. Just like every year, Indian citizens have a lot of expectations and wishes from the upcoming budget. For instance, experts want the announcement of some tax relief, leaving more disposable income in the hands of the taxpayers. When the taxpayers have more disposable income, then this will cause an increase in the spending, leading to growth of our economy. Other sectors want changes in the country’s economic structure as well.
Ahead of the Budget 2023 session, here is all you need to know about it:
Union Budget 2023 Date and Time
The Union Budget 2023 is going to be presented on 1 February and the presentation is expected to start at 11 AM, just like previous years. The parliamentary session of the Union Budget will start on 31 January, 2023 according to the latest media reports. The Budget session is expected to continue till 6 April in addition to the primary presentation.
Who is going to present the Union Budget 2023?
Nirmala Sitharaman, India’s Finance Minister, is going to present the Union Budget 2023 on 1 February. She will also present the Economic Survey of India on 31 January.
Union Budget 2023: Expectations
As per a survey by Kuvera, a Mumbai-based online financial planning platform, majority of the taxpayers want the deduction limit under Section 80C of the Income Tax Act to be doubled. Currently, the limit is Rs 1.5 lakh per year. Gaurav Rastogi, co-founder, Kuvera, said “The current limit hasn’t changed since 2014 and taxpayers are clearly expecting some relief from the upcoming budget.”
Kuvera had conducted a poll among its 16 lakh users and asked them about their expectations from the Union Budget 2023. According to the survey, fiscal prudence was not a top priority for the taxpayers. Less than one in 10 participants wanted the Finance Minister to reduce the budget deficit to 5 percent or less.
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