10:22 (IST)
Budget 2023 Expectations LIVE
Sonia Gandhi to attend President's address as Kharge, other Cong MPs stuck in Srinagar
Congress Parliamentary Party chairperson Sonia Gandhi will attend the President's address to a joint sitting of both Houses of Parliament on Tuesday as party MPs, including Leader of Opposition in Rajya Sabha Mallikarjun Kharge, are stuck in Srinagar due to delayed flights.
Sources said the CPP chairperson will represent the Congress party during President Droupadi Murmu's first address to the joint sitting of both Houses of Parliament.
Several Congress MPs, including Kharge, will not be able to attend the President's address due to delayed flights from Srinagar on account of inclement weather, party leader Jairam Ramesh said.
PTI
10:16 (IST)
Budget 2023 Expectations LIVE
Expectations running high as Nirmala Sitharaman gears up to present her fifth Budget
With Finance Minister Nirmala Sitharaman getting ready to present the last full budget of the Modi 2.0 government, expectations are high that she will meet the demands of all stakeholders, including the common man who is reeling under the price rise.
The finance minister has held several rounds of discussions with various stakeholders, and final touches are being given to the Union Budget for 2023-24 which will be unveiled in the Lok Sabha on 1 February.
PTI
10:13 (IST)
Budget 2023 Expectations LIVE
What would be the theme of the survey?
The theme of the Economic Survey is something to watch out for as it encompasses the economic vision of India. The survey is likely to bring forth the points that matter related to India's inflation levels, and mounting pressure on the Indian Rupee due to RBI’s tightening of monetary policy.
The theme for last year’s economic survey was the 'Agile Approach.' It was primarily focused on India’s economic response to the COVID-19 crisis.
09:52 (IST)
Budget 2023 Expectations LIVE
Inflation in India to come down to 5% in 2023 and 4% in 2024: IMF
According to the World Economic Outlook update released by the IMF on Tuesday, about 84 per cent of countries are expected to have lower headline (consumer price index) inflation in 2023 than in 2022.
09:46 (IST)
Budget 2023 Expectations LIVE
Inflation in India to come down to 5% in 2023 and 4% in 2024: IMF
Inflation in India is expected to come down from 6.8 per cent in the current fiscal year ending 31 March to 5 per cent the next fiscal, and then drop further to 4 per cent in 2024, the International Monetary Fund (IMF) said on Tuesday.
09:40 (IST)
Budget 2023 Expectations LIVE
Nirmala Sitharaman to present Economic Survey in Parliament
Union Finance Minister Nirmala Sitharaman will present the Economic Survey in the Parliament after President Droupadi Murmu’s address to the joint sitting of the Lok Sabha and the Rajya Sabha on Tuesday. The pre-Budget document is prepared by the Economic Division of the Finance Ministry’s Department of Economic Affairs under the supervision of the Chief Economic Advisor V Anantha Nageswaran.
Budget 2023 Expectations LIVE Updates: The wait for the annual national Budget is almost over as the Union government is set to table the Economic Survey on Tuesday.
Union finance minister Nirmala Sitharaman will table the pre-Budget document in the Parliament after President Droupadi Murmu’s address to the joint sitting of the two houses of Parliament.
The Economic Survey document, prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Finance and formulated under the supervision of the chief economic adviser V Anantha Nageswaran, will give insights into the state of the economy and various indicators in the current financial year 2022-23 (April-March) and outlook for the next year.
The Economy Survey may also give some idea about the tone and texture of the actual Budget for 2023-24, to be presented on Wednesday.
The first economic survey reportedly came into existence in 1950-51, when it used to be a part of the budget documents. In the 1960s, it was separated from the Budget documents and presented day prior to the Union Budget.
The most important feature which many will look out for is its central theme.
Last year’s central theme was ‘Agile Approach’, which put emphasis on India’s economic response to the Covid-19 Pandemic shock. The preface of the Economic Survey 2022 stated that the “Agile approach” was based on feedback loops, real-time monitoring of actual outcomes, flexible responses, safety-net buffers and so on.
Along with the sectoral chapters, the Survey document also adds new need-based chapters that need focus.
The Economic Survey tabled in 2022 projected India’s GDP growth of 8.0-8.5 per cent in 2022-23, which the government felt will be supported by widespread vaccine coverage, gains from supply-side reforms and easing of regulations, robust export growth, and availability of fiscal space to ramp up capital spending.
Budget 2023 is likely to be the last full Budget of the Modi government in its second term with the next Lok Sabha election due in April-May of 2024.
Like the previous two Union Budgets, Union Budget 2023-24 will also be delivered in paperless form. The Budget documents will be available on the ‘Union Budget Mobile App’ on both the Android and Apple OS platforms after the completion of the Budget Speech by the Finance Minister.
The formal exercise to prepare the annual Budget for the next financial year (2023-24) commenced on 10 October.
The first part of the session will be held from January 31 and will go on till February 13. The Parliament will reconvene after a recess for parliamentary committees to discuss the demand for grants of various ministries. The second part will begin on March 13 and will continue till 6 April.
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