Budget 2023 will incorporate expectations of every sector: MoS Finance

Even as Union Finance Minister Nirmala Sitharaman is all set to present the last full budget before the 2024 general elections amid expectations that there will be changes in the tax slabs to offer some benefits to the middle class and increase spending on the poor, Minister of State for Finance Pankaj Chaudhary assured that the budget will incorporate expectations from every section of the society.

"Indian economy is on track due to the leadership of PM Modi and the supervision of Nirmala Sitharaman. The Economic Survey also suggests the same. The budget has been made keeping in view all sections of society and it will stand on everyone's expectations," news agency ANI quoted him as saying.

Observing that India made good recovery from Covid-19, he said the economic survey showed that all sectors are making progress.

The pre-budget economic survey on Tuesday projected the Indian economy slowing to 6-6.8 per cent in the fiscal year starting April - still remaining the fastest-growing major economy in the world - as extraordinary challenges facing the globe will likely hurt exports.

Reacting to the economic survey, Modi had tweeted: "The Economic Survey presents a comprehensive analysis of India's growth trajectory including the global optimism towards our nation, focus on infra, growth in agriculture, industries and emphasis on futuristic sectors."

Meanwhile, markets reacted positively ahead of the presentation of the Union budget at 11 am, with Sensex going up by nearly 400 points and Nifty over 100 points.