Budget 2023 will take India forward in direction of welfare of poor: Madhya Pradesh CM

"New India rising under the leadership of PM Modi. My best wishes to PM Modi and FM Nirmala Sitharaman for the presentation of the Union Budget 2023. Under PM Modi's leadership, a prosperous, powerful India is being built and our resolution is the welfare of the poor. Budget will take India ahead in this direction," he said.

Ahead of the presentation of the Budget, a cabinet meeting was held in the Parliament which was chaired by Prime Minister Narendra Modi.

Sitharaman started her Budget speech at 11 am in Lok Sabha. Like the previous two Union Budgets, Union Budget 2023-24 is being delivered in paperless form.

Finance Minister Nirmala Sitharaman along with ministers of state Pankaj Chaudhary and Bhagwat Karad and Finance Secretary TV Somanathan called on President Droupadi Murmu.

As per established tradition, the Finance Minister met the President at the Rashtrapati Bhawan before heading to Parliament to present the Union Budget. This is the fifth budget presentation by Sitharaman.

This year's Budget holds much significance as the country is scheduled to have the next Lok Sabha election in April-May 2024.

The budget session of the Parliament began on Tuesday with the President's address, followed by tabling of the Economic Survey for 2022-23.

The formal exercise to prepare the annual Budget for the next financial year (2023-24) commenced on October 10.

The Economic Survey said India's GDP is expected to grow in the range of 6 to 6.8 per cent in the coming financial year 2023-24. This is in comparison to the estimated 7 per cent this fiscal and 8.7 per cent in 2021-22.

The Economic Survey said that India's economic recovery from the Covid pandemic is complete and the economy is expected to grow in the range of 6 per cent to 6.8 per cent in the coming financial year 2023-24. This is in comparison to 7 per cent this fiscal and 8.7 per cent in 2021-22. (ANI)