CURRENT AFFAIRS

Detailed explanation-1: -Union Budget 2023 vs Union Budget 2022: Expenditure In 2023–24, the government plans to spend Rs 45, 03, 097 crore, a 7.5% increase above the updated estimate for 2022–23. The total spending for 2022–23 is anticipated to be 6.1% higher than anticipated in the budget.

Detailed explanation-2: -Budget Estimates 2023-24: The total receipts other than borrowings is estimated at Rs 27.2 lakh crore and the total expenditure is estimated at Rs 45 lakh crore. The net tax receipts are estimated at Rs 23.3 lakh crore. The fiscal deficit is estimated to be 5.9 per cent of GDP.

Detailed explanation-3: -Sitharaman’s budget for the fiscal year starting April 2023 is her fifth straight since 2019. Other ministers who have presented five straight annual financial statements include Arun Jaitley, P Chidambaram, Yashwant Sinha, Manmohan Singh and Morarji Desai.

Detailed explanation-4: -Budget Estimates 2023-24 Concluding the Part-One of the General Budget, Ms Nirmala Sitharaman said that the total receipts other than borrowings and the total expenditure are estimated at Rs 27.2 lakh crore and Rs 45 lakh crore respectively. The net tax receipts are estimated at Rs 23.3 lakh crore.