Check Out Some Interesting Facts About Union Budget 2023

25 Jan 2023|

1 min read |

by ICICI Securities Team

The announcement of the Union Budget is a highly anticipated event before the start of every financial year. From giving an overview of the government’s financial plans and revealing their economic and social priorities the Budget presentation is very insightful. Whether it’s the general public, well-known economists, and industrialists, everyone looks forward to the proposals and announcements made in the Union Budget.

Following are interesting facts about Union Budget 2023 to know:

The Union Budget 2023 will be presented by Finance Minister Nirmala Sitharaman on February 1 in the Lok Sabha, the lower house of the parliament. This will be the last full Budget presented in the current government’s tenure ahead of the 2024 general elections.
The word ‘Budget’ comes from the French word ‘Bougette’ which means a bag. Back in time, the British Chancellor of the Exchequer carried budget documents in his briefcase. Hence, the Budget came to be known so.
Independent India’s first Union Budget was presented by RK Shanmukham Chetty on November 26, 1947.
The Union Budget comprises the Annual Financial Statement (AFS) and the Demand for Grants.
The AFS gives a summary of the government’s estimated revenue and expenditure for the next financial year, while the Demand for Grands seeks approval for the withdrawal of funds from the Consolidate Fund of India to help the government meet their expenses until the Appropriation Bill is passed.
Another Budget 2023 fact is that the government presents Budgets based on the revenue and expenditure estimates – Surplus Budget, Deficit Budget and Balanced Budget.
The Budget also includes the ‘mid-year review’. This is represented as the ‘half yearly report’ giving an insight into the government’s performance by far.
Another inclusion of the Union Budget is the ‘Economic Survey’. It is a document prepared by the Chief Economic Advisor to the Indian government. The survey is tabled in the Parliament a day ahead of the Union Budget and gives an idea of the Indian economy’s current standing.
Earlier, the Railway Budget was presented separately, but it was merged with the Union Budget in 2017.
Once the Budget is presented, it is followed by discussion and voting on the Budget in the Lok Sabha.

Timeline of Union Budget 2023 presentation

The Budget session of the Parliament will commence with President Droupadi Murmu’s joint address to both houses on January 31.
The Economic Survey will also be tabled on January 31.
The Union Budget will be presented the following day i.e., February 1.
The first Budget session of the Parliament will conclude on February 13.
The second Budget session will commence on March 13 and conclude on April 6.

Disclaimer

ICICI Securities Limited has its registered office at ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400025, India, Tel No:- 022 - 2288 2460, 022 - 2288 2470. The non-broking products / services like iLearn and Financial Learning are not exchange traded products / services and ICICI Securities Ltd. is just acting as a distributor/ referral Agent of such products / services and all disputes with respect to the distribution activity would not have access to Exchange investor redressal or Arbitration mechanism. iLearn is not an exchange traded product/service of ICICI Securities Ltd. All disputes with respect to the activity on the platform would not have access to Exchange investor redressal or Arbitration mechanism.

ICICI Securities Ltd. is a Member of National Stock Exchange of India Ltd (Member Code :07730), BSE Ltd (Member Code :103) and Member of Multi Commodity Exchange of India Ltd. (Member Code: 56250) and having SEBI registration no. INZ000183631. ICICI Securities Ltd. is a SEBI registered with SEBI as a Research Analyst vide registration no. INH000000990. Name of the Compliance officer (broking): Mr. Atul Agrawal, Contact number: 022-69997051, E-mail address: complianceofficer@icicisecurities.com Investments in securities markets are subject to market risks, read all the related documents carefully before investing. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. ICICI Securities Ltd. and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Such representations are not indicative of future results. The securities quoted are exemplary and are not recommendatory. AMFI Regn. No.: ARN-0845. PFRDA registration numbers: POP no -05092018. ICICI Securities Ltd. acts as a Composite Corporate agent having registration number -CA0113. Mutual Fund Investments are subject to market risks, read all scheme related documents carefully. Please note, Mutual Fund, Corporate Fixed Deposits, Bonds, Alternate investment funds, Tax planning, Succession planning, NPS, IPO, Investment Advisory and Loans related services are not Exchange traded products and ICICI Securities Ltd. is acting as a distributor to solicit these products. Please note, Insurance related services are not Exchange traded products and ICICI Securities Ltd. is acting as a corporate agent to solicit these products. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism. The non-broking products / services like Research, etc. are not exchange traded products / services and all disputes with respect to such activities would not have access to Exchange investor redressal or Arbitration mechanism. The contents herein above are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. Investors should consult their financial advisers whether the product is suitable for them before taking any decision. The contents herein mentioned are solely for informational and educational purpose.

Did you enjoy this article?

40 people liked this article. Share Feedback

Recent Articles

View all

Know Your Commodity Before You Trade: Copper

Copper is a widely used base metal known for its electrical and thermal conductivity, strength, ductility and corrosion resistance. It is used across electrical wiring, construction, machinery, power infrastructure and several industrial applications.

254 views

2 minutes

09 Oct 2026

Know your commodity before you trade - Natural Gas

Natural Gas is a widely traded energy commodity used for electricity generation, industrial activity, heating and other applications. Its prices can react sharply to weather, supply and demand, inventories, global energy markets and geopolitical developments.

436 views

1 minutes

30 Sep 2026

Know Your Commodity Before You Trade - GOLD

Gold is more than a precious metal. It is a safe-haven asset, investment avenue, central-bank reserve asset and industrial commodity. For a commodity trader, understanding both Gold's fundamentals and the contract being traded is important.

570 views

3 minutes

23 Sep 2026