Union Finance Minister Nirmala Sitharaman will present the Union Budget 2023-24 in Parliament on Wednesday (February 1), the last full Budget of the Modi government in its second term.
This year's Budget holds much significance as the country is scheduled to have the next Lok Sabha election in April-May 2024.
The budget session of the Parliament began on Tuesday with President's address. This year's budget session is going to have 27 sittings till April 6 with a month-long recess to examine the budget papers. The first part of the session will conclude on February 13. Parliament will reconvene on March 12 for the second part of the Budget Session and conclude on April 6.
The Union Finance Minister, Nirmala Sitharaman on Tuesday tabled the Economic Survey for the Financial Year 2022-23.
The Economic Survey said that India's economic recovery from the Covid pandemic is complete and the economy is expected to grow in the range of 6 per cent to 6.8 per cent in the coming financial year 2023-24. This is in comparison to 7 per cent this fiscal and 8.7 per cent in 2021-22.
Like the previous two Union Budgets, Union Budget 2023-24 will also be delivered in paperless form.
Amid growing public expectations around the Union Budget 2023, top business leaders of the country have also put forward their suggestions for Union Finance Minister Nirmala Sitharaman.
Arihant Infrastructures, CMD, Ashok Chhajer while quoted by ANI said that the government should focus on reducing home loan rates.
"The government should reduce home loan rates. The affordable housing segment, which is capped at Rs 45 lakh, should be changed to Rs 60-75 lakh which is the average cost of a house in Metro cities and 2-tier cities," said Chhajer.
