How Union Budget is madeManu Kaushik
Jan 7, 2023Budget 2023: Date & time
The Budget Session of Parliament will reportedly begin on January 31 this year. FM Nirmala Sitharaman is likely to present the Union Budget 2023-24 on February 1 at 11 am.Credit: PTI
Economic Survey before Budget presentation
After the President's address, FM will table the Economic Survey for 2022-23 in Lok Sabha—an event that precedes the Budget presentation—on January 31, which is reportedly the first day of the Budget Session 2023.Credit: iStock
Budget 2023 expectations
Salaried class wants FM to increase the income tax exemption limit from Rs 2.5 lakh and to enhance the standard deduction from Rs 50,000 currently.Credit: iStock
Budget expectations of 'middle class'
Many have called upon the government to reserve the top income tax slab of 30% on annual income of Rs 20 lakh and above; however, in the old tax regime, the top bracket is applicable to anyoneearning over Rs 10 lakh annually. Credit: PTI
What industry wants from FM
Given that Budget 2023 precedes an election year in which PM Modi will seek another term from the electorate, economists have asked the government not to drop the ball on the fiscal prudence front. Some expect policy action to boost sectors such as defence, textiles and green energy.Credit: IANS