Budget 2022: Date, time, where to watch, expectations and more
While the Narendra Modi-led BJP administration will publish its tenth budget since assuming office in 2014, Sitharaman will give her fourth since taking office in 2019.
Nirmala Sitharaman, Union Finance Minister, is slated to unveil the critical Union Budget 2022 on February 1. The parliament's Budget Session will begin on January 31 with President Ram Nath Kovind's speech. The Union Budget, according to Article 112 of the Indian Constitution, is a disclosure of the government's projected collections and expenditures for the fiscal year. While the Narendra Modi-led BJP administration will publish its tenth budget since assuming office in 2014, Sitharaman will give her fourth since taking office in 2019.
Citizens may tune in to Lok Sabha TV to see the Union Budget 2022, televised live. The session will also be broadcast on many other social media platforms, including YouTube and Twitter. According to sources quoted by news agency ANI, despite the staggered timetable for Lok Sabha and Rajya Sabha, the Union Budget 2022 is expected to be delivered at 11 a.m. on February 1. The Budget presentation might last anywhere from 90 to 120 minutes. The FM's address on the 2020 Budget was about two hours and forty minutes lengthy, making it the longest in India's independent history. Despite a presentation time of 160 minutes, she could not finish the remaining two pages and had to cut her speech short.
While India grapples with the third wave of COVID-19, economists, the salaried class, and industry experts have great hopes for the annual document. GDP forecasts will be a significant metric to watch. Keeping the COVID-19 pandemic in mind, the budget is likely to prioritise recovery and strengthen the country's healthcare system. In 2020-21, India's GDP fell due to lockdowns and more Covid-related restrictions, resulting in a 7.3 percent drop in FY21 GDP.
Union Finance Minister Nirmala Sitharaman presided over a pre-budget consultation meeting with finance ministers of states and union territories (UTs) on December 30 for the upcoming Union Budget 2022-23. Several chief ministers who have financial roles in their respective states attended the conference held at Delhi's Vigyan Bhawan.