Finance Minister Nirmala Sitharaman is all set to table the Union Budget 2023...Five things you must know!

In the midst of a pile of expectations from across the country, Union Finance Minister Nirmala Sitharaman is all set to table the Union Budget 2023. She will be presenting the Budget at 11 am today in the Lok Sabha. The budget session of the Parliament began on Tuesday with the President's address and the Budget session will have 27 sittings till April 6. 

Five things you should know: 

  • The impending Budget would be Nirmala Sitharaman's fifth budget. She is the second Indian woman to present the Budget after Indira Gandhi. Being the only woman finance minister of India to hold the office for long term, Nirmala Sitharaman has become the sixth Finance Minister in the independent India to present five consecutive budgets. 
  • What made this budget an interesting affair is that this will be the last full budget presented by the Modi administration ahead of the 2024 Lok Sabha polls. Having said that, we can expect a significant social and infrastructural push in this budget. 
  • As per the protocol, Nirmala Sitharaman met President Droupadi Murmu on Wednesday morning before arriving at the Parliament. Accompanied by senior officials of her ministry, Nirmala Sitharaman had a brief meeting with the President. 
  • After meeting the President, Nirmala Sitharaman drove to attend the cabinet meeting. The cabinet meeting, chaired by Prime Minister Narendra Modi is underway, by the time of writing this content, and the cabinet will confer its approval for the budget after which it will be tabled in the Parliament. 
  • Nirmala Sitharaman holds a record for presenting the largest budget as in 2020, she read out the budget for 162 minutes. Last year, she read out the budget for 92 minutes and we can expect that she would break her last year's record. 

On Tuesday, Nirmala Sitharaman tabled the Economic Survey for the Financial Year 2022-23. The Economic Survey said that India's economic recovery from the Covid pandemic is complete and the economy is expected to grow in the range of 6 per cent to 6.8 per cent in the coming financial year. She will be presenting the paperless Union Budget, that the ruling regime introduced for the first time in 2021. 

Sharing the pictures of the closely-watched rendezvous, President Droupadi Murmu's office took to Twitter and wrote, "Union Minister of Finance and Corporate Affairs Smt Nirmala Sitharaman, MoS Dr Bhagwat Kishanrao Karad, MoS Shri Pankaj Chaudhary and senior officials of the Ministry of Finance called on President Droupadi Murmu at Rashtrapati Bhavan before presenting the Union Budget 2023-24."