Union Budget 2023 to incorporate every section's expectations: MoS Finance

Finance Minister Nirmala Sitharaman with Ministers of State for Finance Bhagwat Karad and Pankaj Chaudhary during the final touches of Union Budget 2023-24 Pic/PTI

Ahead of the presentation of Union Budget 2023-24 in the Parliament on Wednesday, Minister of State for Finance Pankaj Chaudhary said that the budget will incorporate the expectations of every section of society and will stand on everyone's expectations.

Union Finance Minister Nirmala Sitharaman will table the Budget 2023 in Lok Sabha today at 11 am.

This will be the Narendra Modi government's last full Budget in this term of the Parliament.

Speaking to ANI ahead of the Budget, MoS Finance said that the people's expectations would be reflected in the Budget which will be presented later today.

"This is the budget incorporating the expectations of every section of society. Indian economy is on track due to the leadership of PM Modi and the supervision of Nirmala Sitharaman. The Economic Survey also suggests the same. The budget has been made keeping in view all sections of society and it will stand on everyone's expectations," Chaudhary said.

MoS Finance Dr B Karad told reporters that all making are making progress, and cited the Economic Survey.

Also Read: Union Budget 2023: Know date, time, who will present it and other details

"Country has made good recovery from COVID. If we look at Economic Survey, all sectors are making progress. Compared to other countries, our economy is good. When PM took oath in 2014, India was 10th (in terms of economy), today it is 5th," he said.

"Today, the Budget will be presented before the Parliament by FM at 11 am. Before that, under her leadership, my colleague Pankaj Chaudhary and Secretary will meet the President at 9 am. At 10 am, under PM Modi's leadership, a cabinet meeting will be held," the Minister added.

This year's Budget holds much significance as the country is scheduled to have the next Lok Sabha election in April-May 2024.

The budget session of the Parliament began on Tuesday with President's address. This year's budget session is going to 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. Parliament will reconvene on March 12 for the second part of the Budget Session and conclude on April 6.

The Union Finance Minister, Nirmala Sitharaman on Tuesday tabled the Economic Survey for the Financial Year 2022-23.

The Economic Survey said that India's economic recovery from the Covid pandemic is complete and the economy is expected to grow in the range of 6 per cent to 6.8 per cent in the coming financial year 2023-24. This is in comparison to 7 per cent this fiscal and 8.7 per cent in 2021-22.

Like the previous two Union Budgets, Union Budget 2023-24 will also be delivered in paperless form.

Amid growing public expectations around the Union Budget 2023, top business leaders of the country have also put forward their suggestions for Union Finance Minister Nirmala Sitharaman.

Arihant Infrastructures, CMD, Ashok Chhajer told ANI that the government should focus on reducing home loan rates.

"The government should reduce home loan rates. The affordable housing segment, which is capped at Rs 45 lakh, should be changed to Rs 60-75 lakh which is the average cost of a house in Metro cities and 2-tier cities," said Chhajer.