New Delhi:The Union Cabinet on Thursday approved the Budget for 2023-24. Union Finance Minister Nirmala Sitharaman is presenting the Budget for the fifth time under the Modi regime. It is also the last full Budget of the Modi 2.0 government. This is the third time in a row that the budget is being presented in a paperless manner.
Finance Minister Nirmala Sitharaman along with ministers of state Pankaj Chaudhary and Bhagwat Karad and Finance Secretary TV Somanathan called on President Droupadi Murmu, earlier in the day. As per established tradition, the Finance Minister meets the President at the Rashtrapati Bhawan before heading to Parliament to present the Union Budget.
Also read:Union Budget 2023: Finance Minister Nirmala Sitharaman presents Union Budget
This year's Budget may turn out to be a political one since the next Lok Sabha election is scheduled to be held in April-May 2024. The budget session of the Parliament began on Tuesday with the President's address. It was followed by the tabling of the Economic Survey for 2022-23. The formal exercise to prepare this year's Budget commenced on October 10.
The Economic Survey said India's GDP is expected to grow in the range of 6 to 6.8 percent in the coming financial year 2023-24. This is in comparison to the estimated 7 percent this fiscal and 8.7 percent in 2021-22. The Economic Survey said that India's economic recovery from the Covid pandemic is complete.
The economy is expected to grow in the range of 6 percent to 6.8 percent in the coming financial year 2023-24. This is in comparison to 7 percent this fiscal and 8.7 percent in 2021-22.
