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.