Budget 2022-23 to be presented on February 1: All you need to know – Times of India

Budget 2022-23 to be presented on February 1: All you need to know – Times of India


NEW DELHI: Finance minister Nirmala Sitharaman is all set to present the Union Budget 2022-23 on February 1.
In a letter additional secretary-general of ministry of Parliamentary affairs said that the budget session of Parliament will commence on January 31 with address of President Ram Nath Kovind to both the Houses.
The first half of the budget session will run from January 31 to February 11. It will reassemble on March 14 to sit until April 8, subject to government exigencies.
This will be the 10th budget presented by the Narendra Modi-led BJP government since its appointment in 2014.
The budget assumes importance as it is being announced at a time when the country is battling the third wave of Covid-19.
The Centre is also likely to present the Economic Survey in Parliament, one day ahead of the budget on January 31.
India’s annual gross domestic product (GDP) slumped in 2020-21 due to continued lockdowns which led to disruption in economic activities. As a result, GDP for FY21 contracted to 7.3 per cent.
In a recent data released by the Centre, GDP growth is expected to witness a V-shaped recovery for FY22 by rising to 9.2 per cent in wake of easing restrictions. But, rising number of cases due to spread of Omicron variant may cause some hindrance. However, the impact will be seen in coming days.
Hence, GDP estimation will be a key number to look forward to.
Last year, the budget was delivered in paperless format for first time. Sitharaman had arrived for budget presentation carrying a tablet instead of the traditional ‘bahi-khata’.
She had also launched the Union Budget mobile app for hassle-free access of budget documents by member of Parliaments (MPs) and the general public using the simplest form of digital convenience.
The format for presentation of this year’s budget has not been announced yet.





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