Finance Minister Nirmala Sitharaman will present the Union Budget 2023 on February 1, 2023. This will be the fifth Budget presentation by Sitharaman, and it will mark the Modi government's last before the Lok Sabha Elections 2024. New Income Tax Regime: Ahead of Budget 2023, Know Tax Slabs, Exemptions, Benefits and Disadvantages of Optional Tax Mechanism Introduced in 2020.