Pre-Budget 2023 Expectations: The Finance Ministry is reportedly looking at proposals to provide relief to the middle class in the last full budget of the Narendra Modi Government before 2024 General Elections. Ahead of Budget 2023, common taxpayers, including salaried employees and senior citizens, are having very high expectations. FM Sitharaman will present her fifth Budget Speech on February 1, 2023. (Read: Budget Expectations News on Jan 28)
Some of the top expectations from upcoming budget include revision of income tax slabs, hike in limits under Section 80C, Section 80C, Standard Deduction rules and tax relief for homebuyers as well as senior citizens and salaried employees. Other sectors including auto, real estate, defence, manufacturing, markets, infrastructure, agriculture, startups, IT etc. are also having high expectations from the upcoming Budget.
It is believed that FM Sitharaman will try to play the balancing act by accommodating both the common taxpayer’s demand to some extent and laying the ground for more pressing issues like job creation, GDP growth, fiscal deficit and capital expenditure push for infrastructure, manufacturing and other sectors.
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The Finance Ministry is reportedly considering proposals for the benefit of the middle class. Experts are of the view that the government should raise the basic exemption limit as well as the standard deduction limit for the salaried middle class. These measures are necessary to help the middle class cope with the elevated inflation levels. Read More
Ahead of the India Budget 2023 presentation, the Finance Ministry has said that this is the third consecutive Union Budget to be delivered in paperless form, just like the previous two Union Budgets. The Union Budget 2023-24 will be presented on 1st February 2023. The Ministry said that Budget documents will be available in English and Hindi on the “Union Budget Mobile App” which is available on both the Android and Apple OS platforms after the completion of the Budget Speech by the Finance Minister in Parliament on 1st February 2023.
Union Finance Minister Smt. @nsitharaman also distributed halwa to members of Budget Press along with other staff of the @FinMinIndia present on the occasion. (5/5) pic.twitter.com/t8vKcH17IO
— Ministry of Finance (@FinMinIndia) January 26, 2023
On January 26, the Finance Minister distributed halwa to members of the Budget Press along with other staff of the Finance Ministry.
Budget 2023 Expectations Latest News and Updates