THE UNION BUDGET 2023

The Union Budget has allowed standard deduction of Rs 50,000 under the new personal income tax regime

Agriculture credit has increased by ~11% YoY Rs 20 lakh crore. This is likely to boost agriculture demand and further requirement for agriculture credit.

The Union Budget truly exemplifies the government theme of “India First, Citizen First”. The inclusive development approach was clearly visible through leveraging the digital infra for multiple utilities, accelerating investment cycle via robust allocation, green growth, which will catalyse the multiplier effect on the economy.

Fiscal deficit target for FY23RE and FY24BE has been pegged at 6.4% and 5.9%, respectively. The fiscal deficit and the borrowing estimate were largely in line. 

FY24BE disinvestment target is pegged conservatively at Rs 51,000 crore

On February 1, 2023, the Finance Minister of India, Nirmala Sitharaman announced the Union Budget for the financial year 2023-2024.

Every year, with the introduction of the union budget comes the question - What are my stocks going to be taxed at?  The answer this year is that there is no change in capital gains tax for financial assets such as Stocks, Mutual Funds etc. in Budget 2023. 

According to Economic survey 2023, since its launch from August 2019 Jal Jeevan Mission, which aims to provide assured drinking water supply to ~16.1 crore household by 2024, has covered ~ 7.8 crore households (~48.5%) uptill January 2023.

To develop integrated large-scale and modern industrial infrastructure facilities for the entire value chain of the textile industry, the government approved the setting up of seven PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks.

The E-Commerce sector witnessed a renewed push and a sharp increase in penetration in the aftermath of the pandemic. 

The Union Budget is a critical event for businesses, individuals, and investors in the country. The various changes in taxation policies announced during the budget can significantly affect the various components of the country’s economy.

The Union Budget is an annual event that is extremely important for businesses, individuals, investors and the whole economy. 

Every year, the Government of India announces the Union Budget in Parliament. The Union Budget is a report on the government’s estimated receipts and expenditures for that particular financial year.

The announcement of the Union Budget is right around the corner. Be it salaried class, small entrepreneurs or large corporates everyone is looking forward to it. 

As the Finance Minister, Nirmala Sitharaman is all set to present the Union Budget in the coming days, every citizen’s expectations are set high. With the Budget announcement, citizens hope for some tax relief and look to benefit from various infrastructure and social welfare projects.

The expectations are soaring sky high with the upcoming Union Budget which is to be presented on the 1^st of February, 2023. 

Since next year, 2024 is going to be the year of the Lok sabha elections, so, the 2023-24 Union Budget which is to be presented on the 1^st of February 2023, has a lot of expectations attached to it. 

Capex spending remains the key area of focus with government capex allocation growth at 33% YoY in FY24BE to Rs 10 lakh crore led by sectors like railways, roads, defence, housing, water (Jal Jeevan) and metro projects.

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.

The Union budget 2023 presentation is just around the corner. Let us look at some trivia regarding the Union budgets from the past.

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.