New Delhi: Like a family’s Budget is the account of that household’s total income and expenditure, and the Union Budget is the annual report of India as a country. It contains the Central Government’s revenue and expenditure for the end of a particular fiscal year, which runs from April 1 to March 31.
A country’s Budget considers revenues from all sources and expenses of all activities. The Union Budget comprises the revenue budget and the capital budget. In consultation with Niti Aayog and other concerned ministries, the finance ministry prepares the document.
Union Budget 2023 Date
The Union Budget is presented every year on February 1 during the Budget Session of the Parliament. This year’s Budget session could commence on January 31 and will likely conclude on April 8. Until 2016, the Budget was presented on the last day of February. However, the date for the budget presentation changed from 2017.
Union Budget 2023 Time
The Union Budget for FY 2023-24 will be presented in the Lok Sabha on February 1, Wednesday, at 11:00 am. The Budget session ends in two phases – the first half could be from January 31 to February 11 and the second from mid-March to early April.
Who will present the Union Budget 2023?
Every year, the Union is presented by the finance minister, and this year FM Nirmala Sitharaman will present the document on February 1. The Budget for FY 2023-24 will be Sitharaman’s fifth straight Union Budget.
A day before presenting the document, FM Sitharaman will read the Economic Survey in Parliament on January 31. This document is the annual report card of the economy, encapsulating the economic development in that fiscal year.
