Finance Ministry to kick-start budgetary exercise from October 10

The finance ministry will kick-start the exercise to prepare the annual budget for 2023-24 from October 10 in the backdrop of revival of the Indian economy and fears of recession in developed countries.

The budget for the next year will have to address critical issues of high inflation, boosting demand, job creation and putting the economy on a sustained 8 per cent-plus growth path.

Earlier in the day, the finance minister Nirmala Sitharaman said inflation is no longer "red-lettered" and the priority for the government now is job creation and boosting growth.

"Some of course are red-lettered (priorities), some may not be. Red-lettered ones would of course be jobs, equitable wealth distribution and making sure India is moving on the path of growth.

"In that sense inflation is not red-lettered. I hope it doesn't surprise many of you. We have shown that in the past couple of months that we were able to bring it to a manageable level," she said.

It will be the fifth budget of the Modi