Union Budget 2023 LIVE: FM Nirmala Sitharaman rises to present Budget 2023
Union Budget 2023 LIVE: FM Nirmala Sitharaman rises to present Budget 2023
11:18 (IST)
Union Budget 2023 LIVE Updates
FM underlines priorities of Budget 2023-24
Priorities of Budget 2023-24 - inclusive development, reaching the last mile, infra & investment, unleashing the potential, green growth, youth and financial sector: Finance Minister Nirmala Sitharaman
11:17 (IST)
Union Budget 2023 LIVE Updates
Our vision for the Amrit Kaal includes a technology-driven, knowledge-based economy, says FM Sitharaman
Our vision for the Amrit Kaal includes a technology-driven and knowledge-based economy, with strong public finances and a robust financial sector. To achieve this 'janbhagidari' through 'sabka saath, sabka prayaas' is essential: FM Nirmala Sitharaman
11:16 (IST)
Union Budget 2023 LIVE Updates
'Promotion of tourism will be taken up on mission mode,' says Finance Minister
"Promotion of tourism will be taken up on mission mode," says Finance Minister Nirmala Sitharaman during Union Budget 2023-24 presentation.
11:13 (IST)
Union Budget 2023 LIVE Updates
The world has recognized India as a bright star: FM Sitharaman
"Indian economy on right track despite challenges, and is headed for a bright future," she added.
The world has recognized India as a bright star, our growth for current year is estimated at 7.0%, this is the highest among all major economies, in spite of massive global slowdown caused by pandemic and the war: FM Sitharaman pic.twitter.com/QpZbCmj9si— ANI (@ANI) February 1, 2023
11:11 (IST)
Union Budget 2023 LIVE Updates
The Indian economy has increased in size from being 10th to 5th largest in the world: FM Sitharaman
Govt's efforts since 2014 have ensured for all citizens, a better quality of life & life of dignity. The per capita income has more than doubled to Rs 1.97 lakh. In these 9 years, the Indian economy has increased in size from being 10th to 5th largest in the world: FM Sitharaman pic.twitter.com/e1NbhBzZMc— ANI (@ANI) February 1, 2023
11:10 (IST)
Union Budget 2023 LIVE Updates
During the COVID-19 pandemic, we ensured that nobody goes to bed hungry, says Nirmala Sitharaman
During the COVID-19 pandemic, we ensured that nobody goes to bed hungry with a scheme to supply free foodgrains to over 80 crore persons for 28 months, says FM Nirmala Sitharaman as she presents Union Budget 2023.
11:08 (IST)
Union Budget 2023 LIVE Updates
FM presents the First budget in 'Amritkaal'
Indian economy on the right track, and heading towards a bright future, says Finance Minister Nirmala Sitharaman
"G20 presidency gives us unique opportunity to strengthen India's role in world economic order," said Ms Sitharaman.
11:03 (IST)
Union Budget 2023 LIVE Updates
Finance Minister Nirmala Sitharaman presents Union Budget 2023-24
"This is the first Budget in Amrit Kaal," says Finance Minister .
10:57 (IST)
Union Budget 2023 LIVE Updates
Cabinet approves Union Budget
The Union Cabinet headed by Prime Minister Narendra Modi on Wednesday approved the Budget for the fiscal year 2023-24 (April 2023 to March 2024), sources said.
Following this, Finance Minister Nirmala Sitharaman will present the Budget in the Lok Sabha.
PTI
10:56 (IST)
Union Budget 2023 LIVE Updates
Rupee gains 12 paise to 81.76 against US dollar ahead of Union Budget
The rupee opened on a positive note and gained 12 paise to 81.76 against the US dollar in early trade on Wednesday ahead of the Union Budget presentation.
At the interbank foreign exchange, the domestic unit opened at 81.76 against the dollar, registering a rise of 12 paise over its previous close.
10:53 (IST)
Union Budget 2023 LIVE Updates
FM Sitharaman to unveil Budget in Parliament shortly
FM Nirmala Sitharaman to unveil the Budget in Parliament shortly after Cabinet gives its nod at 11 am.
10:49 (IST)
Union Budget 2023 LIVE Updates
Nirmala Sitharaman with her team at Parliament, to deliver her fifth Budget
#WATCH | Finance Minister Nirmala Sitharaman with her team at Parliament, to deliver her fifth #Budget today pic.twitter.com/kauGclIcgb— ANI (@ANI) February 1, 2023
10:38 (IST)
Budget 2023 LIVE Updates
Copies of Union Budget 2023 arrive at Parliament
Copies of Union Budget 2023 arrived at the Parliament.
Sniffer dog sniffed copies of Union Budget 2023 that were brought to the Parliament.
#WATCH | Delhi: A sniffer dog sniffs copies of #UnionBudget2023 that have been brought to the Parliament. pic.twitter.com/VjhFllJuLf— ANI (@ANI) February 1, 2023
10:37 (IST)
Budget 2023 LIVE Updates
Sensex breaches 60,000 points ahead of FM's speech
Sensex breaches 60,000 points (up 0.9 per cent) ahead of finance minister Nirmala Sitharaman’s speech.
BSE's Sensex went up over 500 points and NSE's Nifty surged 105 in the opening of Wednesday session.
10:24 (IST)
Budget 2023 LIVE Updates
Union Cabinet meeting begins at Parliament
Union Cabinet meeting chaired by PM Modi begins at Parliament After the Cabinet approves the Budget 2023, it will be presented in Parliament by FM Sitharaman.
This year's Budget holds much significance as the country is scheduled to have the next Lok Sabha election in April-May 2024.
10:17 (IST)
Budget 2023 LIVE Updates
Key numbers to be watched
Finance Minister Nirmala Sitharaman will be presenting her fifth Budget that may do a tightrope walk between staying fiscally prudent and meeting general public expectations of lower taxes and a wider social security net, while at the same time firing the engines of the economy. Here are the key numbers to watch for in Budget 2023-24, which is widely expected to boost spending towards policies that create jobs, leave more money in hands of the common man and boost manufacturing, while increasing tax revenues.
- Fiscal Deficit
- Disinvestment/Privatisation
- Capital Expenditure
- Tax Revenue
- Borrowing
- Nominal GDP
PTI
10:12 (IST)
Budget 2023 LIVE Updates
MoS Finance says Union Budget will match people's expectations
Minister of State for Finance Pankaj Chaudhary on Wednesday said that this budget would match the expectations of the general public and that India's economy is on track.
In an exclusive interview with ANI, MoS Finance Pankaj Chaudhary said, "Ever since the Modi government has been formed, it brings the budget keeping in mind all the sections of the society."
Union Finance Minister Nirmala Sitharaman will table the Budget 2023 in Lok Sabha today at 11 am.
ANI
10:02 (IST)
Budget 2023 LIVE Updates
Union Finance Minister Nirmala Sitharaman arrives at the Parliament.
Union Finance Minister Nirmala Sitharaman arrives at the Parliament. A Union Cabinet meeting will be held at 10 am following which the Finance Minister will present the Union Budget in the Parliament at 11 am.
Delhi | Union Finance Minister Nirmala Sitharaman arrives at the Parliament.
A Union Cabinet meeting will be held here at 10 am following which the Finance Minister will present the #UnionBudget2023 in the Parliament at 11 am. pic.twitter.com/4RN67imH50— ANI (@ANI) February 1, 2023
09:51 (IST)
Budget 2023 LIVE Updates
Sitharaman, sixth Finance Minister to present budget five times in a row
Finance Minister Nirmala Sitharaman is the sixth minister in independent India to present five consecutive budgets, joining a select league of legends likes of Manmohan Singh, Arun Jaitley and P Chidambaram.
Sitharaman's budget for the fiscal year starting April 2023 is her fifth straight since 2019.
Other ministers who have presented five straight annual financial statements include Arun Jaitley, P Chidambaram, Yashwant Sinha, Manmohan Singh and Morarji Desai.
PTI
09:43 (IST)
Budget 2023 LIVE Updates
FM Sitharaman to present Budget on digital device instead of 'bahi-khata'
Union Finance Minister Nirmala Sitharaman will present the Union Budget for 2023-24 with a digital device instead of the traditional 'bahi-khata' in her hands.
Wednesday's Budget will be Sitharaman's fifth Budget presentation as Finance Minister.
In 2021, due to the COVID-19 pandemic, the government had to take necessary steps to maintain the security and safety of everyone. The Finance Minister moved ahead with the first paperless Budget holding a digital tablet wrapped in a red-coloured cover with the national emblem emblazoned on it.
The same year, the minister also launched the 'Union Budget Mobile App' for hassle-free access to Budget documents by the parliamentarians and the general public.
Following the same trend the next year, the Union Budget 2022 was also a paperless budget.
ANI
09:41 (IST)
Budget 2023 LIVE Updates
FM Nirmala Sitharaman meets President Droupadi Murmu
Union Minister of Finance and Corporate Affairs Nirmala Sitharaman, MoS Dr Bhagwat Kishanrao Karad, MoS Pankaj Chaudhary and senior officials of the Ministry of Finance called on President Droupadi Murmu at Rashtrapati Bhavan before presenting the Union Budget 2023-24.
09:40 (IST)
Budget 2023 LIVE Updates
Everything interesting about the annual financial statement
It’s Budget Day and all eyes are on Finance Minister Nirmala Sitharaman, as she will present her fifth Union Budget in Parliament today. This is this government’s last full-fledged Budget before the Lok Sabha polls early next year.
09:21 (IST)
Budget 2023 LIVE Updates
Ahead of budget, market opens in green
Ahead of the Union Budget, the stock market opens in green. Sensex is up by 347points and Nifty is up by 106 points
09:07 (IST)
Budget 2023 LIVE Updates
FM Nirmala Sitharaman all set to present Union Budget
Finance Minister Nirmala Sitharaman is all set to present the Union Budget 2023 at 11 am today.
This is the BJP government's last full Budget before the 2024 general elections.
#WATCH | Delhi: Union Finance Minister Nirmala Sitharaman all set to present the #UnionBudget2023 at 11am today.
This is the BJP government's last full Budget before the 2024 general elections. pic.twitter.com/8CFywfihvq— ANI (@ANI) February 1, 2023
09:05 (IST)
Budget 2023 LIVE Updates
Union Budget 2023 to incorporate every section's expectations: MoS Finance
Ahead of the presentation of Union Budget 2023-24 in the Parliament on Wednesday, Minister of State for Finance Pankaj Chaudhary said that the budget will incorporate the expectations of every section of society and will stand on everyone's expectations.
Union Finance Minister Nirmala Sitharaman will table the Budget 2023 in Lok Sabha today at 11 am.
ANI
08:53 (IST)
Budget 2023 LIVE Updates
BJP plans nationwide campaign on Union Budget to highlight pro-people measures
The BJP will start a 12-day nationwide campaign on Wednesday to make people aware of the “pro-people” measures that are to be announced in the Union Budget, party leaders said.
The campaign will be coordinated by senior BJP leader Sushil Modi and conclude on 12 February, they said.
08:43 (IST)
Budget 2023 LIVE Updates
MoS Finance arrives at the Ministry of Finance
MoS Finance Dr Bhagwat Kishanrao Karad arrives at the Ministry of Finance. Union Budget will be presented today. Country has made good recovery from COVID. If we look at Economic Survey, all sectors are making progress. Compared to other countries, our economy is good. When PM took oath in 2014, India was 10th (in terms of economy), today it is 5th, said Dr Karad.
Delhi | MoS Finance Dr Bhagwat Kishanrao Karad arrives at the Ministry of Finance#UnionBudget2023 pic.twitter.com/i6ZgGhn6xx— ANI (@ANI) February 1, 2023
08:39 (IST)
Budget 2023 LIVE Updates
Nirmala Sitharaman arrives at the Ministry of Finance, ahead of the Budget presentation
Delhi | Finance Minister Nirmala Sitharaman arrives at the Ministry of Finance, ahead of the Budget presentation pic.twitter.com/XzWkXKeV8J— ANI (@ANI) February 1, 2023
08:27 (IST)
Budget 2023 LIVE Updates
What’s capex, fiscal deficit and non-tax revenue? Your go-to guide to Budget lingo
It’s the big Budget day. India has a lot to cheer about with the Economic Survey saying that recovery from the pandemic is complete. There are some challenges but the International Monetary Fund (IMF) says the country is a “bright spot” amid global uncertainty.
Today, Finance Minister Nirmala Sitharaman will present the country’s financial statement for the upcoming fiscal year. Terms such as fiscal deficit, revenue receipts, capital expenditure, cess, tax, gross domestic product (GDP) and many more will be the buzzwords of the day. But what do these terms mean?
08:25 (IST)
Budget 2023 LIVE Updates
MoS Finance offers prayers before the presentation of the Modi government's Union Budget 2023
#WATCH | MoS Finance Dr Bhagwat Kishanrao Karad offers prayers ahead of the presentation of #UnionBudget2023 by the government pic.twitter.com/CDs5LYaf4o— ANI (@ANI) February 1, 2023
08:23 (IST)
Budget 2023 LIVE Updates
Will government announce a 'friendly tax' system, bringing much-needed impetus to economic growth?
The Union Budget is set to be presented by Finance Minister Nirmala Sitharaman today in the backdrop of rising worldwide inflation and low economic growth. The industry has huge expectations from the approaching budget from an Indirect Tax and Customs perspective towards the development of a ‘friendly tax system’ and bringing much-needed impetus to economic growth.
08:19 (IST)
Budget 2023 LIVE Updates
Temptation to see the budget as populist might exist, but there is a hope that won't happen
The upcoming Union Budget provides an opportunity for the government to revive the economy as India begins its historic leadership at the G20. All of us are anticipating a thoughtful, comprehensive, and forward-looking Budget. The Ministry of Finance and department of economic affairs released a budget circular to systematically drive the narrative of various elements in India’s Union Budget 2023–24. With a focus on growth and supporting development, it aims to set the country’s economy up for success for the next 25 years.
08:16 (IST)
Budget 2023 LIVE Updates
What respite can India’s middle class expect?
Finance Minister Nirmala Sitharaman will present the last full Union Budget of the Narendra Modi government on Wednesday (1 February) ahead of the 2024 Lok Sabha elections.
While the expectations of various sectors and income groups remain high, the middle class hit by inflation and job losses will be keenly watching Sitharaman’s fifth Budget speech.
07:55 (IST)
Budget 2023 LIVE Updates
Budget needs to be a growth-oriented in line with economic outlook of India: USISPF
This year's annual budget needs to be a growth-oriented one in line with the country's economic outlook, a top American India-centric strategic and business advocacy group said Tuesday.
The previous budgets were focused on pandemic recovery.
This current budget needs to be a growth-oriented budget in line with India's economic outlook, said Mukesh Aghi, president of the US India Strategic and Partnership Forum.
PTI
Budget 2023 LIVE Updates: Union Finance Minister Nirmala Sitharaman will present the Union Budget 2023-24 in Parliament today, 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 6 April with a month-long recess to examine the budget papers. The first part of the session will conclude on 13 February. Parliament will reconvene on 12 March for the second part of the Budget Session and conclude on 6 April.
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-19 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 told ANI 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.
Hiranandani Group MD, Niranjan Hiranandani said the Budget should focus on further investments in roads, railways, ports, airports and highways, as well as slum rehabilitation schemes.
He added that if multimodal transport becomes successful in the next 2-3 years, the logistics cost can be reduced by 3-4 per cent for every item in the country.
“Logistics cost in India is 13 per cent. If our multimodal transport matters become successful in the next 2-3 years, we can reduce logistics cost by 3-4 per cent for every item in the country,” he added.
A key expectation of the healthcare sector from the upcoming Budget 2023 is an increase in expenditure on healthcare infrastructure, said experts in this field.
Keeping the COVID-19 pandemic in view, the Budget 2021-2022 and 2022-2023 focused on the country’s healthcare sector.
During the Budget 2022-2023, the Centre in its Budget announced rolling out an open platform for the National Digital Health Ecosystem which consists of digital registries of health providers and health facilities, unique health identity and universal access to health facilities.
Besides, Sitharaman also highlighted the launch of the National Tele Mental Health Programme, which included building a network of 23 telecentres to support the mental well-being of individuals, and families.
According to Dr Ashutosh Raghuvanshi, Senior Vice President, NATHEALTH and MD and CEO, Fortis Healthcare, “India is amongst the most preferred destinations globally for medical tourism and therefore, increased policy support is required to encourage, facilitate medical value travel to India, develop MVT as an organized sector.”
“Another critical area is addressing the shortage of healthcare professionals – by identifying doctors, nurses and technical staff willing to work in Tier 2/3 cities and looking at non-traditional ways to double the number of doctors. We should look at best practices adopted in universities abroad (fall/summer admission pattern) to increase seats in existing medical colleges,” he said.
Dr Ashutosh further said the sector needs lower-cost financing through tax incentives for both existing and new healthcare projects. For new projects, the Government should provide a tax holiday period of 15 years and for existing projects, tax relief for 10 years as re-investment support.
The Indian Medical Association(IMA) has recently submitted suggestions to the government of India for the Budget. The IMA has submitted overall twelve suggestions for the Budget.
Some of them include– IMA feels the opportune time to do so has arrived. It is expected that GOI will be able to take this monumental step. Universal access to Health including safe water, sanitation, nutrition, primary education as well as eradication of poverty is a cornerstone in the path to the wellness of a society and nation. Conceptualizing good Governance to attain the wellness of a people could mean clubbing together these services (clinical, public health and social determinants) under one roof. At least drinking water, sanitation and poverty alleviation should be clubbed with Health as Ministry for wellness.
The Union Budget 2023 is a much-anticipated event for the real estate sector in India. Industry experts and stakeholders have high expectations from the government as they hope to see a number of reforms and initiatives that can help boost the real estate market and encourage investment in the sector.
The area of interest for the real estate sector is tax incentives. Real estate developers and investors are hoping for tax breaks and other financial incentives that can help lower the cost of developing new projects and make it more profitable for them. This can also encourage more investment in the sector and help boost the economy as a whole.
Another key area of focus for the real estate sector is affordable housing.
Industry experts said many people are struggling to find affordable housing options with the increasing cost of living and rising real estate prices.
The government is expected to announce new initiatives and funding for affordable housing projects to make them more accessible to a wider range of people.
The realty sector is looking forward to an increase in tax rebates, policy reformation, receiving industry status, and the long-awaited single window clearance. In addition, the real estate sector is hoping to see increased investment in infrastructure and transportation systems. This can help improve the accessibility and livability of real estate markets, making them more attractive to potential buyers and investors.
The stakeholders in the tourism business in Himachal Pradesh are expecting special provisions for the state in the next Union Budget.
The stakeholders of tourism Industry stakeholders in the region said they were hopeful of certain special provisions in the Budget for boosting tourism industries in hill states such as Himachal Pradesh.
Local travel agents and hoteliers’ said they want special budgetary provisions in the field of tourism, which contributes significantly to the state GDP.
Hotel businesses are also looking at a special package to boost religious tourism and sought separate allocations for the development of infrastructure.
As the countdown begins for the presentation of the Union Budget for fiscal 2023-24, citizens across a wide spectrum of society have put forward their expectations.
The Union Budget, also comprising the Railway Budget, will be presented on the floor of the Parliament on 1 February, Wednesday.
Meanwhile, homemakers said rising inflation is eating into their household budgets, making it difficult for them to put a leash on their expenses. They said the rising prices of essential food items and LPG cylinders have added to their woes.
The formal exercise to prepare the annual Budget for the next financial year (2023-24) commenced on 10 October.
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