Updates regarding the Union Budget for 2023: Today, February 1, Union Finance Minister Nirmala Sitharaman will present the Union Budget for 2023–24 in Parliament. Today, Sitharaman will make the Union Budget presentation for the fifth time.
It should be noted that the government led by Prime Minister Narendra Modi will not present a full-fledged budget again until the 2024 Lok Sabha elections.
The Economic Times reports that some non-essential items will be more expensive this fiscal year. This fiscal year, private jets, helicopters, jewelry, high-end electronic goods, high-gloss paper, and vitamins are likely to become more expensive.
This time, Sitharaman will also present a budget without paper, and people will be able to access the Union Budget 2023–24 through a mobile application for both Android and iOS smartphones.
Items such as earphones, umbrellas, and imitation jewelry are anticipated to see an increase in import tariffs during the fiscal year 2023.
Hours before the introduction of Association Spending plan 2023-24, we should investigate what got less expensive and dearer in 2022.
In 2022, the following items became less expensive and more expensive:
Dearer:
Headphones and earphones, either one or multiple loudspeakers, umbrellas, imitation jewelry, solar cells, solar modules, X-ray machines, parts of electronic toys,
Cheaper
Clothes, mobile phone chargers, frozen mussels, frozen squid, cocoa beans, methyl alcohol, cut-and-polished diamonds, and a camera lens for a mobile phone.
The Free Press Journal reported that the Union Budget 2023–24 would include a reduction of $17 billion in subsidies which the Centre provides for food and fertiliser.
