FM Sitharaman on Budget 2023: The Finance Ministry is busy preparing hard on every front regarding the country’s upcoming budget (Budget 2023). Union Finance Minister Nirmala Sitharaman has given an important statement regarding this. Regarding the possible strategy of the government, Sitharaman said that in the next budget of the Modi government – 2023, emphasis will be laid on increasing public expenditure to accelerate economic development. The Finance Minister said these things in a program of FICCI in Delhi.
Sitharaman will present the budget for the 5th time
On February 1, 2023, Nirmala Sitharaman is going to present the Union Budget for the fifth consecutive time as the Finance Minister. What he has said to follow the spirit of the previous budget in the coming budget. It is important because in the budget of 2022-23, he had increased the capital expenditure or Capex. In that budget, the capex was increased from Rs 5.5 lakh crore to Rs 7.5 lakh crore in an attempt to revive the economy from the effects of the Kovid-19 pandemic and increase demand. That is, in 1 year itself, he had increased the capex by 35.4 percent.
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25 years future will be determined
The Finance Minister said, “We are preparing to present the next budget of the country. This budget will also take forward the same spirit which has been there in the previous budgets. He said that we are going to present an example, which we have shown earlier also, but now we will take it further, which will determine the future of India for the next 25 years.
this will be a challenge
The country’s GDP rate has come down in the last few months. Many institutions including the Reserve Bank of India (RBI) have predicted a decline in India’s GDP growth rate for the current financial year. According to RBI, the country’s GDP growth rate will be 6.8 percent in the entire financial year of 2022-23. At the same time, this growth rate was 4.4 in the third quarter, which is expected to further decrease to 4.2 percent in the fourth quarter (January-March 2023).
News reels
India’s economy is much better than many big countries of the world. To control inflation at the international level, interest rates are being increased. There is a possibility of deteriorating the economic environment in 2023. In such a situation, everyone’s eyes are on what roadmap the Finance Minister presents in her next budget to deal with these situations.
Budget before Lok Sabha elections
Finance Minister Nirmala Sitharaman’s next budget will be the last full budget of the Modi government before the Lok Sabha elections to be held in April-May 2024. In this budget, the government would like to leave no stone unturned on those matters, which can affect the people of the country on the economic front. In the upcoming budget, inflation can be controlled, demand and employment can be increased.
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