Budget 2023: Finance Minister Nirmala Sithraman meets President Murmu ahead of budget presentation

Finance Minister Nirmala Sitharaman holds the Union Budget document as she meets President Droupadi Murmu. (ANI)

Nirmala Sitharaman, the finance minister, arrived at the ministry office on Wednesday morning as she gears up to present her fifth Union Budget in the Parliament today.

It is the last full budget of the incumbent government before the 2024 Lok Sabha elections.

Also read: Pandemic Recovery of India's economy is complete: CEA Nageswaran

Like every year, the Finance Minister first visited the North Block situated at Raisina Hill ahead of the Budget presentation. Following this, she met President Droupadi Murmu and will present the Union Budget 2023 at 11 AM in Parliament.

In the previous Budget, the FM made no changes to the income tax slabs. The salaried class is currently anticipating the income tax rebate because the present income slab and the tax rates under the regular tax system have not changed since FY 2017-18.

Sitharaman will present the Union Budget with a digital device instead of the traditional 'bahi-khata' in her hands.

In 2019, the Union Budget was presented in a traditional 'bahi-khata' rather than a leather briefcase. It was the first time since independence that any Finance Minister had 'opted out' of a briefcase or a hardbound leather bag.

A 'bahi-khata' holds prominence in Indian culture, tradition and history. For decades, the Indian way of managing accounts and keeping a record of bills was done in a 'bahi-khata'. Traders, merchants, sailors and even small shopkeepers have retained this way of preserving their data.

However, in 2021, due to the Covid-19 pandemic, the government had to take necessary steps to maintain the security and safety of everyone. The Finance Minister moved ahead with the first paperless Budget holding a digital tablet wrapped in a red-coloured cover with the national emblem emblazoned on it.

The same year, the minister also launched the 'Union Budget Mobile App' for hassle-free access of Budget documents by the parliamentarians and the general public. Following the same trend, the next year, the Union Budget 2022 was also a paperless budget.

On Wednesday, the Budget documents will be available on the 'Union Budget Mobile App' on both the Android and Apple OS platforms after the completion of the Budget Speech by the Finance Minister.

The Budget Session of the Parliament began on Tuesday with President Droupadi Murmu's address to the joint session where she spoke about different topics during her maiden address after being elected to the topmost office of the country last year.

Ahead of the Budget session of Parliament, Prime Minister Narendra Modi on Tuesday said, "India's Budget will attempt to meet the hopes and aspirations of the common citizens amid the unstable global economic situation." (With inputs from Agencies)