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Union Budget 2023-24: The Budget for the financial year 2023-24 will be presented after two days on February 1. The Budget is expected to announce relief to the middle class and different sectors of the economy. The Budget 2023 speech of Union finance minister Nirmala Sitharaman will be keenly watched not just in India, but across the world considering India’s impact on global economy and the nature of globalised trade.
Notably, Budget 2023 is going to be a full-fledged budget of the Modi government before the Lok Sabha elections in 2024.
Meanwhile, days ahead of the Union Budget 2023, Prime Minister Narendra Modi on Sunday chaired a meeting of the Union Council of Ministers in New Delhi.
The meeting is the first to be held for the Union Council of Ministers in 2023.
Reportedly, the working of several ministries and policy initiatives taken by the government was reviewed and discussed.
Demands for tax incentives, changes in income tax slabs, tax rebates, curtailing inflation, benefits in home loan interest are a few expectations which may find mention in the speech of the finance minister.
Ahead of the annual budget presentation, US-India Strategic and Partnership Forum (USISPF) has urged FM Sitharaman to simplify and rationalise the direct and indirect taxation system in India.
This is a move USISPF believes would increase the confidence of global investors and yield greater foreign direct investment.
Within the Indian economy, sectors like real estate, healthcare, MSME, pharma and education, to name a few, have highlighted their respective demands on various public forums.
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