Budget 2023: From tax cuts to employment generation, the government’s focus, the budget will be presented today at 11 am

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Union Budget 2023: Finance Minister nirmala sitharaman Today, on Wednesday, February 1, the budget will be presented in the Lok Sabha at 11 am. Finance Minister Nirmala Sitharaman is expected to announce a slew of measures to help the Indian economy through the turbulent tide of global recession, prolonged war and stagnant inflation. This budget is the last full budget of the Modi government before the general elections next year. During this, he will be faced with the challenge of balancing the expectations like tax cuts and increasing social security along with showing fiscal prudence.

The challenge of living up to people’s expectations

Through this last full budget before the next year’s general elections, the government can also try to live up to the expectations of the people. For this, the method of increasing public expenditure can be adopted. Sitharaman is going to present her 5th budget at a time when the economy is facing a difficult challenge of dealing with global shocks and meeting domestic needs.

Middle class hopes for relief

The demand for change in income tax slab has been prominent in the demands raised during discussions with industry organizations and interest groups before the budget. This can provide relief to the middle class. At the same time, along with increasing public expenditure on the poor, measures can also be announced to encourage domestic manufacturing.

Focus on health, education and rural economy

However, it will be necessary for Nirmala Sitharaman to maintain fiscal prudence while meeting these expectations. Although inflation coming down from high levels in the last few months and tax collection increasing can be a matter of relief, but health, education and rural economy can be his main focus.

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