India is all set to witness the Union Budget 2023 with Finance Minister Nirmala Sitharaman, who will present the budget next month. This will be the last full-fledged budget of the present Modi government before the general elections. It is also one of the most anticipated events amid global uncertainties and the fear of recession.
Union Budget 2023 date
The union budget for 2023 will be presented on February 1, 2023, though the budget session in Parliament is expected to begin on January 31. In this session Nirmala Sitharaman will present the data from the Economic Survey of India in the parliament.
The recess will be held between February 14 and March 12 to enable department-related Parliamentary Standing Committees to check the demands for grants.
Union Budget 2023 timing
The budget on February 1, 2023, will begin at around 11 am and last for approximately 1.5 to 2 hours.
Who will present the union budget for 2023?
FM Nirmala Sitharaman will be presenting the union budget on February 1. It will be the fifth time that Sitharam will present the budget, and it is also the last budget before the elections. The longest budget speech in India's history was delivered by her in 2021, and it lasted for about 1.5 hours. Sitharaman's speech during the last budget lasted for approximately 1.5 hours.
Preparation of Union Budget
The preparation of the union budget begins nearly five to six months prior to the budget presentation, which means that the process for this budget began in August or September last year. It involves data compilation and execution by different ministers.
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