Finance Minister Nirmala Sitharaman will present the last full-fledged Union Budget of the Narendra Modi government ahead of the 2024 Lok Sabha elections on February 1, 2023.

Sitharaman, who holds the record for the longest Budget speech, will be delivering her fifth straight Union Budget.

Like the previous two Budgets, the 2023-24 Budget would also be delivered in paperless form.

While some investors are optimistic of markets reacting in a positive manner this year, let’s take a look at how markets have reacted to budget announcements over the past five years.

The late Arun Jaitley presented the 2018 Union Budget, which was the first post-GST implementation, but it did not generate positive sentiments & led to a decline in the Nifty.

Budget 2018

Nirmala Sitharaman's first Budget as India's female FM failed to impress markets and Nifty closed lower by 1.1 percent.

Budget 2019

Nirmala Sitharaman's second Budget failed to boost market, Nifty down 2.5% on Budget day.

Budget 2020

Nirmala Sitharaman's third Budget boosted market with Nifty up 4.7%, best gain since 1999.

Budget 2021

Nirmala Sitharaman's fourth budget led to Nifty's 1.4 percent rise, second time Nifty gained on Budget day.

Budget 2022