CURRENT AFFAIRS

Detailed explanation-1: -On 1 February 2021, Finance Minister Nirmala Sitharaman presented the first paperless budget. This was done due to the ongoing COVID-19 pandemic in India.

Detailed explanation-2: -The Union budget 2023 will be presented by our finance minister on 1 feb in the parliament. The Union Budget 2023 consists of the capital expenditure for the financial year 2022 and 2023. For this year the union budget has been increased by 35.4 percent to Rs 7.5 lakh crore.

Detailed explanation-3: -There is a special reason behind changing the budget date. As the budget was presented on the last date of February, it used to be difficult to implement the provisions of the budget from the next financial year which begins on April 1.

Detailed explanation-4: -The Finance Minister, Ms. Nirmala Sitharaman, introduced Budget 2021-22 on February 1, 2021, amidst the COVID-19 pandemic. 2020-21 was a non-standard year with respect to the performance of the economy and government finances.

Detailed explanation-5: -The pre-budget Economic Survey 2023 will be tabled by Finance Minister Nirmala Sitharaman in Parliament on January 31. The Survey highlights the state of the economy in the current financial year 2022-23.