Ms. Sitharaman’s budget address outlined which items would be more inexpensive and which would be more expensive.
Union Budget 2023: The final comprehensive Union Budget of the Modi administration before the 2024 Lok Sabha elections was presented today by Union Finance Minister Nirmala Sitharaman. What would be more affordable and more expensive was laid out in Ms. Sitharaman’s budget address.
A list of goods whose prices are expected to rise or fall is provided below:
| Items crafted with gold bars | Expensive |
| Cigarettes | Expensive |
| Parts for mobile phones | Cheaper |
| Imitation Jewellery | Expensive |
| Silver | Expensive |
| Parts for TV panels | Cheaper |
| Machinery for lithium ion batteries | Cheaper |
| Raw materials for EV industry | Cheaper |
| Electronic vehicle imports | Expensive |
| Imported bicycles and toys | Expensive |
| Electric kitchen chimney | Expensive |
The budget for this year is of great importance because the country’s next Lok Sabha election is set for April or May of 2024. The President’s message and the introduction of the Economic Survey for 2022–2023 marked the beginning of the Parliament’s budget session on Tuesday. On October 10, the formal process to create the annual Budget for the following fiscal year (2023–24) got under way.
According to the Economic Survey, India’s GDP is projected to increase between 6 and 6.8% in the upcoming fiscal year 2023–2024. This contrasts with the predicted 7% for this fiscal year and 8.7% for 2021–22.
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The Economic Survey stated that India’s economic recovery from the COVID pandemic is complete and that the country’s GDP will increase between 6% and 6.8% in the upcoming fiscal year 2023–2024. In contrast, current fiscal year’s rate is 7.0%, and in 2021–2022, the rate is 8.7%.
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