Finance Minister Nirmala Sitharaman will present Union Budget for the year 2022-23 in Parliament today at 11 am.
The Budget for the fiscal year starting April 1, 2022 is likely to raise spending on infrastructure to set the economy on a firmer footing.
The Budget comes days before the first phase of voting in Uttar Pradesh, which along with four other states is going to the polls to elect a new state government. And naturally, it is expected to contain measures for higher rural and agriculture spending.
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Wednesday 07 Jan. 2025
It is unclear if Sitharaman will tinker with income tax rates but there is an expectation that the exemption limit of Rs 2.5 lakh will be raised.
The Economic Survey’s GDP forecast of 8-8.5 per cent for the next fiscal is optimistic and the Union Budget is expected to focus on fiscal management and reforms to give a booster dose to the economy, India Inc said on Monday.
The Economic Survey 2021-22 on Monday said a strong revival in revenues and the agile fiscal policy approach adopted by the government have created headroom for additional fiscal support, if needed.
The government has budgeted fiscal deficit at 6.8 per cent of GDP in current fiscal ending March 2022. — PTI
