Union Budget 2023-24 Highlights: Now, the union budget presentation was held on 1st February 2023 in the parliament. Union Budget 2023-2024 Highlights are updated here. Download the Union Budget 2023-2024 Highlights PDF available here provided with an in-depth analysis of the budget. Union Minister Nirmala Sitharaman presented the Union Budget 2023 on the Parliament on 1st February 2023 (11 AM). The union budget is presented in a paperless format for the second year in a row. The Budget session began with the address of President Ram Nath Kovind to both Houses of Parliament. Union Finance Minister Nirmala Sitharaman tabled the Economic Survey 2023-24 in the Lok Sabha. The union budget session will be held for 1.30-2 hours. Candidates preparing for competitive exams can refer to the Union Budget 2023-2024 highlights provided here. For both mains and interview sessions, knowing the Union budget allocations in important fields is significant. Get to know the complete highlights of the union budget 2023-2024 here.

Union Budget 2023 Highlights PDF Download

Candidates can download the key features of the Budget 2023-2024 pdf provided here. All the in-depth details of the budget 2023-24 are provided here.

Union Budget 2023-2024 Highlights PDF Download Link

92nd Union Budget of India (2023 - 2024): Union Budget 2023 - 2024 Highlights

Candidates preparing for the upcoming mains exams and interview rounds should be aware of the Union Budget 2023-2024 highlights provided here. The regular updates will be available here in detail for the Union Budget 2023-2024.

The Budget adopts the following seven priorities. They complement each other and act as the ‘Saptarishi’ guiding us through the Amrit Kaal.

• Inclusive Development

• Reaching Last Mile

• Infrastructure Investment

• Unleashing Potential

• Green Growth

• Youth Power

• Financial Sector

Expected Current Affairs Questions on Union Budget 2023-24

93rd Union Budget of India: Union Budget 2023 Highlights

On Feb 01, 2023, The Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman tabled the Union Budget 2023-24 in Parliament. Check the union budget 2023-24 analysis tabulated below.

 

Budgetary Allocation to Ministries in India’s Union Budget 2023-24
Ministry	Amount (in Lakh Crore Rupees)
Ministry of Communications	1.23
Ministry of Chemicals and Fertilizers	1.78
Ministry of Agriculture and Farmers’ Welfare	1.25
Ministry of Rural Development	1.60
Ministry of Railways	2.41
Ministry of Home Affairs	1.96
Ministry of Road Transport and Highways	2.70
Ministry of Consumer Affairs, Food and Public Distribution	2.06
Ministry of Defense	5.94

 

To know all the key highlights of the budget 2023-24, Download the PDF given above.

 

History of Union Budget

• The Union Budget of India also referred to as the Annual Financial Statement in Article 112 of the Constitution of India, is the annual budget of the Republic of India. The Government presents it on the first day of February so that it could be materialized before the beginning of the new financial year in April.

• Until 2016 it was presented on the last working day of February by the Finance Minister in Parliament. The budget division of the Department of economic affairs (DEA) in the finance ministry is the nodal body responsible for producing the budget. 

• It is presented by means of the Finance bill and the Appropriation bill has to be passed by Lok Sabha before it can come into effect on 1 April, the start of India's financial year.

 

First in Union Budget

• The first Indian Budget was presented 160 years ago in 1860, by a Scottish economist named James Wilson.

• The first union budget of independent India was presented by R. K. Shanmukham Chetty on 26 November 1947. Total revenues stood at ₹171.15 crore, and the fiscal deficit was ₹24.59 crore.

• Until 2016, every year it is presented on the last working day of February by the Finance Minister of India in Parliament. But after 2016 Government presents it on the first day of February.

• First Indian governor of RBI who presented the Interim Budget In 1951-52 was C D Deshmukh

• First PM who presented the Union Budget Pandit was Jawaharlal Nehru in 1958-59.

 

Nirmala Sitharaman Creates History

• Nirmala Sitharaman is the first full-time woman Finance Minister in India as this position was only held by Indira Gandhi as an additional responsibility when she served as the Prime Minister.  

• In 2020, FM Nirmala Sitharaman made a record for delivering the long Budget speech ever. She spoke for nearly 2 hours 40 minutes.

 

 For more Union Budget 2023 Highlights & Updates Download the PDF...

 

FAQs: Union Budget 2023-2024 Updates

Q. Where can I get to know the Union Budget 2023-24 highlights?

A. Know the details of the Union Budget 2023-24 provided here in this article.

 

Q. When was the Union Budget 2023-24 presented?

The Union Budget 2023-24 was presented on 1st February 2022.

 

Q. Who presented the Union Budget 2023-24?

A. Finance minister Nirmala Sitharaman presented the Union Budget 2023-24.

 

Q. Where can I download the Union budget 2023 highlights pdf?

Candidates can download the Union budget 2023 highlights pdf from the direct link provided here.