“This budget will be a bright spot for the shaky global economy. I am sure Nirmala Ji will live up to our expectations,” PM Modi said on Tuesday
New Delhi: “In today’s global circumstances, not only India but the entire world is looking at India’s budget,” PM Modi said while addressing the media ahead of this year’s Budget session. President Droupadi Murmu will for the first time address both the Houses, he pointed out, adding that it’s a day of pride for tribal society.
“It has been a tradition in the Parliament that when a new MP speaks for the first time, the entire Parliament gives them respect and creates an atmosphere to give them confidence. Similarly, today’s address is a first by the President,” he said.
The PM’s statement preceded President Droupadi Murmu’s first address to the joint sitting of both Houses of Parliament.
Economic Survey for the term 2022-23, was prepared by the Economic Division of the finance ministry’s Department of Economic Affairs under the supervision of the Chief Economic Advisor V Anantha Nageswaran.
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Finance minister Nirmala Sitaraman is all set to present the Economic Survey 2022-23 on Tuesday in the Parliament, post the first addressing of President Droupadi Murmu in both the houses. The survey is presented just a day ahead of the budget every year.
Prime Minister Narendra Modi said, “We have only one thought, the country comes first. In the budget session, we will wrangle and discuss as well. We will have a very good discussion on every issue in the House. All MPs will participate in this session with full preparation. This session will be important for all of us.”
The International Monetary Fund (IMF) predicts the growth of the Indian economy for the coming fiscal year to be 6.1 percent, down from 6.8 percent for the current fiscal year on March 31.
“Growth in India is set to decline from 6.8 percent in 2022 to 6.1 percent in 2023 before picking up to 6.8 percent in 2024, with resilient domestic demand despite external headwinds,” said the IMF’s World Economic Outlook update.
“I want to say, we had a positive view on India in our October forecast. That positive view is largely unchanged,” Pierre-Olivier Gourinchas, Chief Economist and Director, Research Department of the IMF, said.
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