Correct option is A
The correct answer is (a) 01-02-2023
Explanation:
- The Union Budget 2023-24 was presented by Finance Minister Nirmala Sitharaman on 1st February 2023.
- As per tradition, the Union Budget is presented on 1st February every year to ensure its implementation from the beginning of the financial year (April 1st).
- This was Nirmala Sitharaman's fifth consecutive budget presentation since 2019.
Information Booster:
History of Budget Presentation in India:
- The first Union Budget of Independent India was presented by R. K. Shanmukham Chetty on 26th November 1947.
- Until 2016, the budget was presented on the last working day of February.
- From 2017 onwards, it was shifted to 1st February to allow better implementation.
Union Budget 2025-26 – Key Highlights
Constitutional Provision
- As per Article 112, the government presents an Annual Financial Statement detailing receipts and expenditures.
- Divided into Consolidated Fund, Contingency Fund, and Public Account.
Budget Theme & Vision – Viksit Bharat
- Inspired by Telugu poet Shri Gurajada Appa Rao: "A country is not just its soil; a country is its people."
- Six Key Principles:
- Zero poverty
- Quality education for all
- Affordable, high-quality healthcare
- Skilled workforce with meaningful employment
- 70% women participation in the economy
- Farmers making India the ‘Food Basket of the World’
Priority Sections
- Focus on poor (Garib), youth, farmers (Annadata), and women (Nari).
- Aims to boost growth, attract private investment, and empower the middle class.
Major Announcement:
- PM Dhan-Dhaanya Krishi Yojana (100 districts): Crop diversification, irrigation, and credit access.
- Mission for Aatmanirbharta in Pulses (6 years): Focus on Tur, Urad, and Masoor pulses, procurement by NAFED & NCCF.
- New Income Tax Regime:
- No tax on income up to ₹12 lakh per annum.
- Standard deduction of ₹75,000 for salaried individuals.
- Fiscal Deficit Target:
- RE 2024-25: 4.8% of GDP
- BE 2025-26: 4.4% of GDP
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