FM Nirmala Sitharaman presented Budget 2023-24: Finance Minister, Nirmala Sitharaman presented Union Budget for 2023-24 in Parliament on 1st Feb 2023.
Seven priorities: Inclusive development, Reaching the last mile, Infrastructure and investment, Unleashing the potential, Green growth, Youth power, and financial sector. The main highlight of the budget was the five major announcements related to personal income tax, including a change in tax slab under the new tax regime.
February 2023 Current Affairs Quiz
UNION BUDGET 2023: FULL COVERAGE
The 2022-23 Economic Survey that was tabled in Parliament on January 31 kept India’s GDP’s growth at a baseline value of 11% in nominal terms and 6.5% in real terms for 2023-24. The survey underlined the fact that “agencies worldwide continue to project India has the fastest growing major economy” despite the three shocks of Covid-19, the Russia-Ukraine war, and synchronised policy rate hikes by central banks across the world.
Funds allocated (in lakh crore rupees):
- Defence Ministry: 5.94
- Road and highways Ministry: 2.7
- Railways: 2.41
- Home Affairs: 1.96
- Agriculture and Farmer Welfare: 1.25
- Communications: 1.23
