Union Budget 2023: Date, Time, expectation and other details

The Indian government will present a budget on Feb 1 that will likely put deficit reduction ahead of vote-winning spending, even as Prime Minister Narendra Modi looks towards seeking a rare third term of office in 2024. Union Budget 2023: Date, Time, expectation and other details.

Therefore, the expectations of the people, especially the middle class, are high on this budget. Curiosity has increased whether the government will make more contributions keeping in view the elections. Changes in income tax limits and rules, along with expected price reduction of essential commodities, various sectors have their own expectations on the budget.

Finance Minister Nirmala Sitharaman will present the budget on February 1. Budget presentation time, where to watch, what people expect and more information is given here. The Union Budget for the year 2023-24 will be presented on Wednesday, February 1. Union Finance Minister Nirmala Sitharaman will begin presenting the budget in Parliament at 11 am that day.

Nirmala Sitharaman will present the budget for the fifth time. In 2022, he presented the budget for about 1.5 hours. In 2021, he presented the budget for 2 hours and 40 minutes, which is considered to be the longest budget in the history of the country.

Budget presentation can be watched on Lok Sabha TV, Rajya Sabha TV, Doordarshan (DD News) and other news channels. There will also be live coverage of the budget presentation on Sansad TV and Parliament’s Twitter accounts. Budget will also be telecast live on official YouTube channels of Doordarshan and Lok Sabha.

The budget session of Parliament will begin on January 31 and will continue till April 6. The budget session will begin with President Draupadi Murmu addressing both the Houses of Parliament. There will be a break for the budget session from February 14 to March 12.

During this period the Parliamentary Standing Committees will scrutinize the demand for grants. Reports related to various ministries and their departments will also be prepared. The Finance Minister is expected to release the Economic Survey on January 31.

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What are the budget expectations?

Income Tax Rate Reduction: The maximum income tax rate in the country is 30%. There is a demand that it should be reduced to 25%. The maximum tax is levied on those earning more than Rs 10 lakh per annum. There has been a request to raise the maximum taxable amount to Rs 20 lakh.