Live | Highlights of Budget 2023: New tax regime, PAN to be used as common identifier

FM announces reduction in tax slabs to 5 from existing 6 in new tax structure; raises tax exemption limit to ₹3 lakh from ₹2.5 lakh.

Budget 2023 Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman also announced the setting up of a committee under finance secretary to look into pension issues of government employees. File photo

Hello and welcome to The Federal‘s live coverage of Union Budget 2023-24. Finance Minister Nirmala Sitharaman presented the Budget today (February 1). This was Narendra Modi government’s last full Budget before the 2024 general elections.

Also read: Budget 2023: Top points Nirmala Sitharaman made so far

This was Sitharaman’s fifth straight budget. Dressed in a red saree with black and golden border, Sitharaman continued with the tradition she set in 2019, carrying the budget speech in a bahi khata, which she used after ditching the briefcase. She kept a digital tablet in a red bahi khata style pouch.

Also read: World has its eyes on India’s budget: Modi


Sitharaman on Wednesday called on President Droupadi Murmu before presenting the Union Budget 2023-24. As per established tradition, the Finance Minister met the President at the Rashtrapati Bhawan before heading to Parliament.

Also read: Budget-related stories

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