Union Budget 2023: All eyes are on Finance Minister Nirmala Sitharaman who is working on preparing the forthcoming Union Budget 2023. Every sector expects something from the budget and the most challenging part of the budget is to have a balanced approach.
Union Budget 2023: Economists said the letter written to the finance minister, is a follow-up to our letters of 20 December 2017 and 21 December 2018 (addressed to her predecessor, Arun Jaitley).
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Today's SPI of 24 per cent indicates that inflation will be between 25/30 per cent which on the one hand will destroy the common man," he said continuing the thread on Twitter, Dawn reported.
Taking objection to her remarks, Chidambaram stated, “Regrettably, the FM thinks that the average Indian has below-average intelligence in understanding numbers relating to finances.”
In its earlier policy review in February, the RBI had projected retail inflation to be at 4.5 per cent in 2022-23.
Finance Minister Nirmala Sitharaman said that major supply chains have broken.
RRR has been in the making for almost four years. It is all set to release on March 25 and stars Jr NTR and Ram Charan in lead roles. Apart from the huge money and hard work of the star cast, there is a lot of anticipation riding on this pan-India film from Baahubali fame director SS Rajamouli.
Last year, all the 200 MLAs were presented iPads along with a copy of the budget by Chief Minister Ashok Gehlot.
Union Minister Dr Ramdas Athawale pounced at the chance to school the Thiruvananthapuram MP and said "one is bound to make mistakes while making unnecessary claims."
Interacting with reporters after the meeting, Bommai said, "There was a detail discussion with the MP. We discussed about various state and central projects related to irrigation, railways, roads ports and urban development."
“We have been projecting a quite robust growth for India. Yes, there is a small downgrade versus our previous projection from 9.5 pc to 9 pc for 2022. But then we also have a small upgrade for 2023, because we think that we'll see stable growth not very different from (those projected by) the (Union) Minister of Finance,” Georgieva said
FM Nirmala Sitharaman had allocated Rs 73,000 cr for Mahatma Gandhi National Rural Employment Guarantee Programme in last year's budget too. However, this was later revised to Rs 98,000 cr on account of higher demand for the work.
Markets in China and South Korea were closed for a holiday. Stock exchanges in Europe were trading on a firm note in mid-session deals.
Gross borrowing for the next financial year will be Rs 14,95,000 crore as against Rs 12,05,500 crore Budget Estimate (BE) for 2021-22.
Defence Minister also welcomed FM Nirmala Sitharaman's announcement that 68 pc of the defence capital procurement budget would be allocated towards procurement from domestic industry.
Congress general secy and chief spokesperson Randeep Surjewala said the salaried and the middle classes have been affected due to pay cuts and high inflation.
FM Sitharaman said that 68 pc of capital for the defence sector would be earmarked for the local industry.
Finance Minister Nirmala Sitharaman is presenting the Union Budget for the year 2022-23 in Parliament today.
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