The Union Budget 2023-24 was presented on which of the following date?

The correct answer is 01-02-2023.

Key Points

• The Union Budget 2023-24 was presented on 01 February 2023.
• This budget marks the last full-year budget before the general elections slated for 2024.
• It was presented by Finance Minister Nirmala Sitharaman.
• The budget focused on various sectors including infrastructure, agriculture, and digital economy.

Additional Information

• Union Budget
  • The Union Budget of India is the annual financial statement presented by the Government of India outlining its estimated revenue and expenditure for the upcoming financial year.
  • It is presented every year on the first day of February so that it can be materialized before the beginning of the new financial year in April.
  • The budget is divided into two parts: Revenue Budget and Capital Budget.
  • The first Union Budget of independent India was presented by R. K. Shanmukham Chetty on 26 November 1947.
• Finance Minister
  • The Finance Minister of India is responsible for the economic policy of the government, including the preparation and presentation of the Union Budget.
  • The current Finance Minister is Nirmala Sitharaman, who has been in office since 30 May 2019.
  • She is India's first full-time female Finance Minister.
• Fiscal Deficit
  • Fiscal deficit is the difference between the government's total expenditure and its total receipts (excluding borrowing).
  • It indicates the total borrowing requirements of the government.
  • A high fiscal deficit can lead to higher inflation and may impact the country's credit rating.
• Capital Expenditure
  • Capital expenditure refers to the funds used by an organization to acquire, upgrade, and maintain physical assets such as property, industrial buildings, or equipment.
  • It is considered a long-term investment that improves the efficiency or capacity of the organization.
  • In the context of the Union Budget, it includes spending on infrastructure projects, public sector enterprises, and other development projects.