Budget will be available on the 'Union Budget Mobile App'…
New Delhi: FM Nirmala Sitharaman will be presenting her fifth Budget and meeting general public expectations of lower taxes and a wider social security net, while at the same time firing the engines of the economy.
FM Sitharaman presented her first Budget in 2019 which replaced the leather briefcase. It had been used for decades for carrying Budget documents with a traditional 'bahi-khata' wrapped in red fabric.
The key points to watch for in Budget 2023-24 is:
Fiscal Deficit: It is the difference between the government expenditure and income, for the current fiscal ending March 2023 is 6.4 per cent, against 6.71 per cent in the last fiscal.
Disinvestment/Privatisation: It is expected the government would set a realistic target for next fiscal.
Capital Expenditure: The government's planned capital expenditure for this year is budgeted at ? 7.5 lakh crore, higher than ? 5.5 lakh crore in the last fiscal.
Tax Revenue: The government's tax revenues are expected to overshoot the budget estimates by about ? 4 lakh crore on buoyant income tax and customs duty.
Nominal GDP: India's nominal GDP growth in the current fiscal is estimated to be 15.4 per cent. The numbers for next fiscal would be lower as the inflation has reduced.
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