Indian Union Budget 2023-24 LIVE Updates: Steps taken to empower middle class and women, says PM Modi

Finance Minister Nirmala Sitharaman on new taxation regime

'The new taxation regime has now got greater incentives, and attractions so that people can unhesitatingly move from the old to the new. We are not compelling anyone. But the new one is now attractive as it gives greater rebates': Union Finance Minister Nirmala Sitharaman

'Nothing in the budget for poor people: Congress president Mallikarjun Kharge on Union Budget 2023

'The budget was presented by the Modi govt keeping in view the upcoming Assembly polls in 3-4 states. There's nothing in the budget for poor people and to control inflation. No steps for jobs, to fill govt vacancies & MNREGA:' Congress president Mallikarjun Kharge

KC Venugopal on Union Budget 2023

According to General Secretary of Congress KC Venugopal, unemployment and price rise are the country's real concerns are not addressed in this budget. KC said, "It only had fancy announcements that were made earlier too but what about implementation? Only insurance companies were benefited from PM Kisan Yojana not farmers," ANI reported.

'Welfare schemes and subsidies are being scrapped': PDP chief Mehbooba Mufti on Union Budget 2023

Samajwadi Party MP Dimple Yadav on Union Budget 2023

PM Modi on Union Budget 2023

According to PM Modi, this budget will realise the goals of the aspirational society, including those of the poor, middle class, and farmers. PM Modi said, "First budget of Amrit Kaal will build a strong foundation for building a developed India." 

Congress' K Suresh says budget 2023 is for Adani, Ambani, Gujarat

'Sapno Ka Saudagar':  JD(U) MP Rajiv Ranjan reacts

'No solution to inflation, unemployment': Congress MP 

'Relief to every section of society': Haryana CM ML Khattar

Union Min Smriti Irani on Budget 2023

Indian Union Budget 2023-24 updates

Karti Chidambaram, Congress MP, noted any tax reductions are appreciated because the best way to stimulate the economy is to put more money in people's pockets.

Defence Minister Rajnath Singh on Union Budget 2023

Reacting to this year's budget in a series of tweets, Defence Minister Rajnath Singh stated the union budget for 2023 is focused on growth and welfare, with a priority to provide support to farmers, women, marginalised sections and the middle class.

By creating jobs through investments in infrastructure projects paired with increased spending on agriculture, housing, healthcare and manufacturing sectors will help create more opportunities for everyone and help in driving economic growth further ahead!

— Rajnath Singh (@rajnathsingh) February 1, 2023

Singh added that the country is anticipated to experience positive changes as a result of the Union Budget 2023–24 that will help us get closer to achieving our goal of becoming one of the "Top Three" in the next few years.

The Union Budget 2023-24 is expected to bring about positive changes in the country that will lead us towards achieving our goal of becoming a $5 trillion economy and ‘Top Three’ economies within few years.

— Rajnath Singh (@rajnathsingh) February 1, 2023

Defence Minister Rajnath Singh on Union Budget 2023

Reacting to this year's budget in a series of tweets, Defence Minister Rajnath Singh stated the union budget for 2023 is focused on growth and welfare, with a priority to provide support to farmers, women, marginalised sections and the middle class.

By creating jobs through investments in infrastructure projects paired with increased spending on agriculture, housing, healthcare and manufacturing sectors will help create more opportunities for everyone and help in driving economic growth further ahead!

— Rajnath Singh (@rajnathsingh) February 1, 2023

Singh added that the country is anticipated to experience positive changes as a result of the Union Budget 2023–24 that will help us get closer to achieving our goal of becoming one of the "Top Three" in the next few years.

The Union Budget 2023-24 is expected to bring about positive changes in the country that will lead us towards achieving our goal of becoming a $5 trillion economy and ‘Top Three’ economies within few years.

— Rajnath Singh (@rajnathsingh) February 1, 2023

Defence Minister Rajnath Singh on Union Budget 2023

Reacting to this year's budget in a series of tweets, Defence Minister Rajnath Singh stated the union budget for 2023 is focused on growth and welfare, with a priority to provide support to farmers, women, marginalised sections and the middle class.

By creating jobs through investments in infrastructure projects paired with increased spending on agriculture, housing, healthcare and manufacturing sectors will help create more opportunities for everyone and help in driving economic growth further ahead!

— Rajnath Singh (@rajnathsingh) February 1, 2023

Singh added that the country is anticipated to experience positive changes as a result of the Union Budget 2023–24 that will help us get closer to achieving our goal of becoming one of the "Top Three" in the next few years.

The Union Budget 2023-24 is expected to bring about positive changes in the country that will lead us towards achieving our goal of becoming a $5 trillion economy and ‘Top Three’ economies within few years.

— Rajnath Singh (@rajnathsingh) February 1, 2023

'Some good things but...': Congress MP Shashi Tharoor on Union Budget 2023

Congress MP Shashi Tharoor said, "There are some good things in Union Budget 2023 but there was no mention of MNREGA, poor rural labour, employment & inflation. Some fundamental questions remained to be answered."

'Game changer for Karnataka': BJP MP on announcement of over Rs 5,000 cr irrigation project

BJP MP thanked FM Sitharaman and PM Modi for the announcement of the more than Rs 5,000 cr irrigation project for the Upper Bhadra region of Karnataka. Tejashvi Surya said, "This project will be a game changer for the state."

Union Budget 2023 latest update

The domestic equity market welcomed the pro-growth Budget with the Sensex rising more than 1,200 points after Finance Minister Nirmala Sitharaman lowered income tax burden and increased government capex outlay by 33% to Rs 10 lakh crore for FY24 on Wednesday.

AAP's Sanjay Singh reacts to Union Budget 2023 

Reacting to the Union Budget 2023, AAP's Sanjay Singh wrote in his latest tweet.

'Budget will take India ahead': MP CM Shivraj Singh Chouhan

Madhya Pradesh CM Shivraj Singh Chouhan said, "New India rising under the leadership of PM Modi. My best wishes to PM & FM for presentation of #UnionBudget2023. Under PM's leadership, a prosperous, powerful India is being built and our resolution is the welfare of poor. Budget will take India ahead in this direction."

Union Budget 2023: Personal Income Tax rates

According to FM Sitharaman, the new tax system extends the income tax rebate to income up to Rs 7 lakhs. According to Union Finance Minister Nirmala Sitharaman, the new tax rates are 0 to 3 lakhs rupees (nil), 3 to 6 lakhs rupees (5%), 6 to 9 lakhs rupees (10%), 9 to 12 lakhs rupees (15%), 12 to 15 lakhs rupees (20%), and more than 15 lakhs rupees (30%).

Budget 2023: Processing time for tax returns reduced

Processing time for tax returns decreased from 93 days to 16 days on average. According to FM Sitharaman, the government plans to introduce new common IT return forms and improve the grievance process.

Budget 2023: Highest-ever capital outlay for railways estimated at Rs 2.40 lakh crore

Nirmala Sitharaman, the Union Finance Minister, stated that the government had proposed a capital outlay of about Rs 2.40 lakh crore for the railways. According to Sitharaman, this current budget outlay for the railways is the highest amount ever and is nine times higher than it was in 2013.

Budget 2023 live updates

The revised fiscal deficit, according to FM Nirmala Sitharaman, is 6.4% of GDP. 5.9% of GDP is the fiscal deficit goal for FY 2024.

Union Budget 2023: Pradhan Mantri Kaushal Vikas Yojana 4.0

According to FM Nirmala, the government will introduce the Pradhan Mantri Kaushal Vikas Yojana 4.0. The establishment of 30 Skill India International Centers in various States will prepare young people for opportunities abroad.

'Greening India's economy': FM Nirmala Sitharaman

According to Nirmala Sitharaman, replacing old, polluting vehicles is crucial for "greening India's economy."

Indian Union Budget 2023-24 updates

To improve regional air connectivity, FM Nirmala Sitharaman said 50 additional airports, helipods, water aero drones, and advanced landing grounds will be renewed. 

FM: PAN to be used as common identifier

FM Nirmala Sitharaman stated that PAN will be used as a standard identifier for all digital systems of the following government agencies for businesses that are required to have one 

Indian Union Budget 2023-24

Capital outlay of Rs 2.40 lakh crores for Railways in the next financial year noted FM Nirmala Sitharaman. 

Indian Union Budget 2023 latest updates

According to FM, the capital investment outlay will increase by 33% to Rs 10 lakh crores, or 3.3% of GDP. An additional year has been added to a 50-year loan to state governments without interest.

Union Budget 2023: Government increases PM Awaas Yojana budget

According to FM Nirmala Sitharaman, the PM Awaas Yojana budget has increased by 66% to over Rs 79,000 crores.

FM Nirmala Sitharaman: 157 new nursing colleges to open

According to FM Nirmala Sitharaman, 157 new nursing colleges will open alongside the 157 medical colleges that have already been operating since 2014.  

Union Budget 2023: Focus on animal husbandry, dairy, and fisheries

With a focus on animal husbandry, dairy, and fisheries, the agricultural credit target will be raised to Rs 20 lakh crores, said FM Sitharaman while presenting the union budget for 2023. 

FM: Rural women enlisted in 1 lakh SHGs under National Rural Livelihood Mission

According to FM Sitharaman, the National Rural Livelihood Mission has made significant progress by enlisting rural women in 1 lakh SHGs.

FM Nirmala Sitharaman presents Union Budget for 2023

By concentrating on the aforementioned areas, the finance minister claims that economic empowerment of women is one opportunity that can be transformative in achieving our vision.

Union Budget 2023 latest updates

According to Nirmala Sitharaman, the economic agenda for our vision focuses on enhancing macro-economic stability, creating opportunities for citizens, and stimulating growth and job creation.

India has grown from 10th to 5th largest economy in the world: FM Sitharaman

According to Sitharaman, the Indian economy has grown from being the tenth to the fifth largest in the world in the past nine years, India made significant progress toward many SDGs, the economy has become much more formalised, and effective scheme implementation has resulted in inclusive development.

G20 Presidency offers a unique opportunity to strengthen India's position in world economic order, says FM

According to Sitharaman, the G20 Presidency presents a special chance for us to strengthen our position in the global economic order. We are directing an ambitious people-centric agenda to address global challenges and promote sustainable economic development.

Union Budget for 2023 latest updates

According to FM Sitharaman, the central government is covering all of the roughly Rs. 2 lakh crore cost of providing free food grains for a year to all Antyodaya and priority households under the PM Garib Kalyan Anna Yojana.

Budget 2023 Live updates

Sitharaman claims that in just five years, the per capita income has more than doubled. This is the first budget in Amrit Kaal, and it seeks to build on the framework established in the previous budget and the plan for India@100. According to Sitharaman, we envision a prosperous and inclusive India in which the fruits of development reach all.

'This will be the best budget': Parliamentary Affairs Minister Pralhad Joshi

According to Parliamentary Affairs Minister Pralhad Joshi, Indian Union Budget for 2023 will be the 'best budget.'. Joshi stated that the budget will be pro-poor and pro-middle class. Budget 2023 likely to bring good news for medical aspirants? Read more

Budget 2023: Sensex rises 517 points in early trading to reach 60,000

Equity benchmarks increased in today's early trading hours in anticipation of the Budget 2023 announcement. A 516.97 point increase brought the BSE Sensex to 60,066.87. To reach 17,815.30, the NSE Nifty increased by 153.15 points. In the early part of the session, shares of ICICI Bank, Tech Mahindra, Asian Paints, Tata Steel, Kotak Mahindra Bank, HDFC, HDFC Bank, Titan, and NTPC were trading in the green. Here's ChatGPT's 10-point answer to 'Ideal Budget for India'. Read more

Budget 2023 updates: Union Cabinet meeting chaired by PM Modi begins at Parliament

PM Modi's Union Cabinet meeting gets underway in Parliament. FM Sitharaman will present the Budget 2023 to Parliament following Cabinet approval. Jewellery, high end electronic items may get costlier, check 2022 list

Union Budget 2023: FM Nirmala Sitharaman meets President ahead of Budget speech

Prior to delivering the Union Budget 2023–24 on Wednesday, Finance Minister Nirmala Sitharaman made a call to President Droupadi Murmu. The Finance Minister met the President at the Rashtrapati Bhawan as is customary before going to Parliament.

FM Sitharaman to present budget digitally with 'Bahi Khaata Tablet'

Nirmala Sitharaman, the union finance minister, will table the 2023–24 budget without the traditional 'bahi-khata' in her hands for the third time but instead with a tablet in digital format

FM Sitharaman to present budget digitally with 'Bahi Khaata Tablet'

Nirmala Sitharaman, the union finance minister, will table the 2023–24 budget without the traditional 'bahi-khata' in her hands for the third time but instead with a tablet in digital format

'Union Budget 2023 to incorporate every section's expectations,' says MoS Finance

Pankaj Chaudhary, Minister of State for Finance, stated that the Union Budget 2023–24 will take into account the demands of every segment of society and will be based on everyone's expectations before it is presented to the Parliament on Wednesday. Today at 11 a.m., Union Finance Minister Nirmala Sitharaman will present the Budget 2023 to the Lok Sabha. FM Nirmala Sitharaman to announce some modifications to the personal income tax regime? Read more

Budget 2023: Chhattisgarh Chief Minister demands 'new trains' and GST dues

Bhupesh Baghel, the chief minister of Chattisgarh, said on Wednesday that residents in the areas of Jagadalpur and Surguja have requested new trains ahead of the presentation of the Union Budget for the coming fiscal year 2023–24. Also demanded by CM Baghel was the earliest possible release of the state's GST and central excise dues, ANI reported. Read more

Union Budget 2023-24 updates

Nirmala Sitharaman, the finance minister, arrives at Rashtrapati Bhavan to meet with President Murmu. FM will then present the Union Budget for 2023–24 after attending the Union Cabinet meeting.

Budget 2023 updates: PM Modi to preside over cabinet meeting at 10 am

Before the Union budget is presented to Parliament, a cabinet meeting will be held at 10 a.m., according to Minister of State for Finance Dr. B. Karad.

Prior to Budget presentation, FM Nirmala Sitharaman arrives at Ministry of Finance

Union Finance Minister has arrived at the Ministry of Finance in New Delhi.

Government initiatives reduced inflation to levels within the RBI's tolerance range: Economic Survey

In addition to the reduction in the price of commodities globally, the government and Reserve Bank of India's actions, according to the Economic Survey for 2022–2023, have been able to lower retail inflation below the upper tolerance band of 6%. India's retail inflation managed to return to the RBI's safe zone in November 2022 after three consecutive quarters of exceeding the central bank's six percent target.

Budget is expected to encourage spending in order to support growth while reducing the deficit

According to Reuters, the government will work to reduce its fiscal deficit while increasing state spending, providing incentives for investment, and supporting a struggling economy.

Budget 2023-24 updates: Before parliamentary proceedings, Union Cabinet meet to be held

The Union Cabinet will convene in the morning to discuss and approve the Union Budget 2023–24. Sitharaman will reveal the Budget to Parliament following Cabinet approval.

Budget 2023-2024: BJP to start national campaign to emphasise advantages of the Union Budget

On Wednesday, the Bharatiya Janata Party (BJP) will begin a 12-day nationwide campaign to engage the populace and explain the advantages of the upcoming Union budget 2023–24. According to a party source, "BJP will run a nationwide campaign to spread awareness of the measures that will be announced in the Union budget 2023–24 on Wednesday and hold 'Countrywide Discussion on the Budget' from February 1–February 12," ANI reported.

GDP Growth is projected to increase by 6–6.8% in Economic Survey 2022–2023

The Economic Survey 2022-23 predicts that during the following fiscal year 2023–2024, India's real GDP will grow by 6–6.8%. According to a base case scenario, the country's economy is projected to grow by 6.5 percent in 2023–24, down from 8.7 percent in 2021–22 and 7 percent in the most recent fiscal year, 2022–23. 

Latest Union Budget 2023 Updates

Budget is likely to prioritise expanding the number of medical colleges and PMJAY coverage. According to sources cited by news agency PTI, the focus of the upcoming Union Budget 2023–24 is anticipated to be on expanding the number of nursing and medical schools, adding the HPV vaccine to the National Immunization Program, and improving the coverage of the Pradhanmantri Jan Arogya Yojana (PMJAY).

Here are anticipated income tax announcements for Budget 2023

The announcements regarding the income tax rates and slabs are anticipated to be made during the presentation of the Union Budget 2023–24 on Wednesday, February 1. In addition to higher deduction limits, analysts currently anticipate an increase in the income tax exemption limit.

Fiscal Year 2023: FM Nirmala Sitharaman is scheduled to present the budget for 2023 today.

On February 1, Finance Minister Nirmala Sitharaman will present the Union Budget 2022–23, the last detailed budget before the nation holds general elections in 2024. The fifth budget speech given by Sitharaman will be closely watched as people and various sectors hope for supportive policies. These estimates for the budget come from various industries.

LIVE Budget 2023 Updates: Union Budget: What Is It? Who does the preparations?

India's annual budget will be presented later on today, and new initiatives for the nation's overall growth are expected. The general public and various economic sectors will eagerly await FM Nirmala Sitharaman's speech on the budget for 2023 to see if their wish lists are mentioned.