Union Cabinet approves Budget for FY22-23, FM Sitharaman to present it shortly

This is Sitharaman’s fourth straight Union Budget when she presents financial statements and tax proposals for the fiscal year 2022-23

The Union Cabinet on Tuesday approved the fourth Budget for FY2022-23 of the Modi government which will be presented by Finance Minister Nirmala Sitharaman in Parliament.

The meeting began at around 10:20 am ahead of the Budget presentation. The Budget presentation was moulded by the Economic Survey remarking that the government has the latitude to forecast its economy and to grow at a healthy 8-8.5 per cent growth in 2022-23 fiscal. Now, the emphasis of the Budget is envisioned to be on further revving India’s pace of recovery from the pandemic shock along with further.

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Prime Minister Narendra Modi, Defence Minister Rajnath Singh, Union Home Minister Amit Shah, Railways, Communications and IT Minister Ashwini Vaishnav, Parliamentary Affairs Minister Pralhad Joshi, and others were present at the Parliament for the Union Cabinet Meeting ahead of the presentation of the Budget. Sitharaman took the tablet in the red pouch to Parliament to present a paperless Budget.

The Budget speech will commence at around 11 am today with Sitharaman beginning it with an address to the speaker of Lok Sabha. Usually, the duration of the presentation ranges from 90 to 120 minutes.

This is Sitharaman’s fourth straight Union Budget when she presents financial statements and tax proposals for the fiscal year 2022-23 (April 2022 to March 2023). The Budget Session of the parliament commenced on January 31 with President Ram Nath Kovind`s address. The first part of the Budget Session of Parliament will be held from January 31 to February 11 and the second part will take place from March 14 to April 8.