Budget 2023-24: The Finance Ministry will start the work of preparing the annual budget for the financial year 2023-24 from October 10. This process is starting in the midst of a boost to the domestic economy and the fear of recession in developed countries. The budget for the next financial year will need to address the important issues of high inflation, spurring demand, creating employment opportunities and sustaining the growth rate of over eight per cent.
The Finance Minister had given an important statement yesterday regarding the inflation rate
Earlier in the day, Finance Minister Nirmala Sitharaman said with inflation falling below record highs, the issue is no longer very important and the priority for the government is to generate employment and accelerate economic growth.
The fifth budget of the second term of the Modi government will be
This will be the second term of the Modi government and the fifth budget of Sitharaman. It will also be the last full budget before the general elections to be held in April-May 2024. According to the budget circular (2023-24) of the budget unit of the Department of Economic Affairs, “Pre-budget meetings under the chairmanship of Secretary (Expenditure) will commence from October 10, 2022.” The budget estimates for the financial year 2023-24 will be provisionally finalized after the completion of the pre-budget meetings. Meetings on Revised Estimates (RE) will continue till mid-November 2022.
Budget may be presented on February 1
The budget for the financial year 2023-24 can be presented in the first phase of the budget session of Parliament on February 1. The budget session usually starts from the last week of January.
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