Sitharaman Meets Prez Kovind Before Cabinet Approves Union Budget for 2022-23

Arwood

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posted on 2 years ago — updated on 1 second ago

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Expectations are running high as Sitharaman presents her fourth budget in the Lok Sabha on Tuesday. She has her task cut out to maintain the world's fastest-growing economy tag for India.

The Union Cabinet headed by Prime Minister Narendra Modi on Tuesday approved the Budget 2022-23, before the presentation of the Budget by Finance Minister Nirmala Sitharaman in the Lok Sabha.

The Budget documents usually include the finance minister's speech in Parliament, highlights, annual financial statement, finance bill containing tax proposals, memorandum explaining the provisions in the financial bill, and macroeconomic framework statement. They also include the medium-term fiscal policy cum fiscal policy strategy statement, outcome framework for schemes, customs notification, implementation of previous Budget announcements, receipt budget, expenditure budget and statement of budget estimates.

Before arriving at Parliament, Sitharaman called on President Ram Nath Kovind. As per established tradition, the Finance Minister met the President at the Rashtrapati Bhawan before heading to Parliament.

“Smt Nirmala Sitharaman, Minister of Finance along with Ministers of State for Finance, Dr Bhagwat Kishanrao Karad, Shri Pankaj Chaudhary, and senior officials of the Ministry of Finance, called on President Ram Nath Kovind before presenting the Union Budget 2022-23,” Rashtrapati Bhawan tweeted. The Union Cabinet met thereafter to clear the Budget.

Expectations are running high as Sitharaman presents her fourth budget in the Lok Sabha on Tuesday. She has her task cut out to maintain the world’s fastest-growing economy tag for India.

Dressed in a brown silk saree with a white border, Sitharaman continued with the tradition she set in 2019, carrying the budget speech in a bahi-khata, which she used for ditching the briefcase. This kept a digital tablet in a red bahi khata style pouch. On the first day of the budget session of Parliament, Sitharaman on Monday tabled the pre-budget Economic Survey for 2021-22, which projected an 8-8.5 per cent growth for the economy in the coming financial year.

The economy is projected to expand by 9.2 per cent in the current fiscal year as against a contraction of 6.6 per cent in the previous fiscal ending March 31, 2021.

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