THE UNION BUDGET 2023

Contrary to our expectation, index breached the key support of 17,800. We believe, the index is turning lighter on the face of Union Budget coupled with US Fed meet to be presented next week.

Article 112 of the Indian Constitution mandates that a budget should be presented to Parliament prior to the start of each fiscal year. For the upcoming fiscal year, which starts on April 1 and ends on March 31 of the following year, the Union Budget is expected to show some positive changes in mitigating the rise of inflation.

On February 1, Nirmala Sitharaman, the finance minister, will give her fifth budget, which includes financial data and tax plans for the coming fiscal year 2023–24.

The Union Budget 2023 is round the corner and being the last such full-fledged exercise before the general elections next year, there is a heightened sense of expectation across stakeholders.

The much-awaited week is near - FM Nirmala Sitharaman is all set to deliver the budget on February 1 2023. Like every year, much is expected from the budget - every sector would be looking at her as a Messiah and some perhaps as Santa Claus who would bring the goodies bag - a bit late. 

Finance Minister Nirmala Sitharaman in the fiscal 2021 budget announced the new exemption-free tax regime. Under this regime, taxpayers were allowed to opt for concessional tax rates without claiming certain exemptions and deductions that were available to them in the existing old regime.

Inflation is the continuous rise in the prices of goods and services. It is also the simultaneous decline in the purchasing power or value of the currency – in India's case, it is the rupee. Inflation is a non-stop process and affects everything – from the cost of a t-shirt, movie ticket, college education, or property.

Taxes are the most crucial and most significant source of revenue for the Government. The Government uses the revenues generated from taxes to provide basic facilities to its citizens and the nation's overall development. For example, construction of roads, buildings, infrastructure, public healthcare facilities, providing various subsidies, etc.

Every year on the first day of February, the Finance Minister of India presents the Union Budget in the Parliament. Like a typical household budget, the Union Budget contains all information about the Government's revenues and expenditure during a given financial year. 

The Finance Minister of India presents the Union Budget on the first day of February every year. It is also known as the annual financial statement of the country. It contains the details of the revenue sources and expenses undertaken by the Government during the applicable financial year.

Indian stock markets are dynamic prone to ups and downs depending on a host of factors. Every year, one major event that impacts the equities and bond markets is the announcement of the Union Budget.

A budget typically meant to please people is known as a populist budget. It spends more on lucrative schemes that can increase the Government's fiscal deficit. Such a budget doesn't have any enduring positive impact on the country's economy.

At some point, every earning individual might have been frustrated with paying taxes or confused about how much of their income is going towards it. However, an earning individual paying tax (known as income tax) is not the only type of tax the individual has to pay.

From the auto sector perspective, the union budget is growth oriented in nature with focus on capital expenditure and is positive for commercial vehicle segment, Electric Vehicles and tractor space.

Over the last two years, individuals, especially salaried people, have taken quite a hit because of the pandemic. Work from home has not only increased expenses such as electricity and WiFi bills but has also put a strain on take-home salary. Naturally, people hope that the government will step in and ease some of these troubles through their Union Budget announcements.

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. 

The Union Budget 2023 will be presented in the Lok Sabha on the 1^st of February at 11:00 am. It is presented by the Union Finance Minister, the post presently held by Nirmala Sitharaman. Prior to 2016, the Union Budget was presented on the last day of February.

The year 2022 has proven to be volatile for the equity markets, especially due to the global geopolitical scenario. However, despite such headwinds, the Indian markets have persevered and outperformed their global peers considerably. 

The Finance Minister presents the Union Budget in the Lok Sabha every year. The Budget speech gives details of revenue and expenditure. Thus, it serves as a roadmap for fund allocation and collection for various activities and projects. 

Union Budget is a statement of the government’s estimated revenues and expenditures for a particular financial year. Since India is the Union of States, the country’s Budget is known as the Union Budget. Article 112 of the Indian Constitution also refers Union Budget as the Annual Financial Statement.

Nirmala Sitharaman, India's Finance Minister, will present the Union Budget 2022-23 in the Lok Sabha on 1 February. Here is a complete list of budget terminologies that you should know before hearing the actual budget.

Deep dive into the three different types of government budgets and their impact on the economy.

The Finance Minister of India presents the Union Budget on the first day of February every year. It is also known as the annual financial statement of the country. It contains the details of the revenue sources and expenses undertaken by the Government during the applicable financial year.

The Economic Survey reviews the economy's overall performance for the previous fiscal year. It is presented a day before the Union Budget and set the context for the Union Budget.