The annual budget for fiscal year (FY) 2022-23 will be released tomorrow. This is the second “Covid budget” that finance minister Nirmala Sitharaman will announce.
Last year’s budget revealed a record economic contraction of 7.3 percent for FY 2020-21 and an annual deficit that jumped from 4.6 percent to 9.4 percent of the gross domestic product, or GDP. Economic activity picked up in 2021, with the economy expected to grow 9.2 percent for FY 2021-22.
