New Delhi: Union Finance Minister Niramala Sitharaman is presenting the Union Budget for 2023-24 in Parliament. Earlier in the day, the Union Cabinet cleared the Budget ahead of its presentation. Prime Minister Narendra Modi chaired the Cabinet meeting. Copies of the Union Budget have been brought to the Parliament. The presentation of the Union Budget began at 11 am.
The Union Cabinet meeting chaired by Prime Minister Narendra Modi has already started at the Parliament. After the Union Budget 2023 is approved by the Cabinet, it will be presented in Parliament by Finance Minister Nirmala Sitharaman.
Earlier in the day the Union Finance Minister reached Parliament to attend the Cabinet meeting to present the Union Budget 2023 for her colleagues' approval. Union Home Minister Amit Shah and Defence Minister Rajnath Singh also reached the Parliament.
She went to Rashtrapati Bhavan and met President Draupadi Murmu who approved the Budget. Nirmala would present the Union Budget at the Parliament at 11 am after attending a Union Cabinet meeting. This would be her fifth straight Union Budget for the fiscal year 2023-24 (April 2023 to March 2024).
Also read: Union Budget 2023: Finance Minister Nirmala Sitharaman presents Union Budget
The Budget comes at a time when the global economy has slowed down and inflation remains a concern. Earlier in the day the Minister of State for Finance Dr. Bhagwat Kishanrao Karad arrived at the Ministry of Finance. Addressing the media, he said that India has made a good recovery from COVID. "If we look at Economic Survey, all sectors are making progress. Compared to other countries, our economy is good. When Prime Minister took oath in 2014, India was the 10th largest in terms of economy, today it is the 5th largest in the world."
"Before the presentation of the Budget, under her (FM Nirmala Sitharaman) leadership, my colleague Pankaj Chaudhary and the Finance Secretary will meet the President at 9 am. At 10 am, under PM Modi's leadership, a cabinet meeting will be held," MoS Finance Dr. Bhagwat Karad said.
The Budget session of the Parliament began on Tuesday with the President's address. The session will have 27 sittings till April 6 with a month-long recess to examine the budget papers. The first part of the session will conclude on February 13. The Parliament will reconvene on March 12 for the second part of the Budget Session and conclude on April 6.
