Union Budget 2024 Announcement: Finance Minister Nirmala Sitharaman will present the Union Budget for 2024 in Lok Sabha on July 23. The budget session in Parliament will start on July 22 and run until August 22.
"Hon’ble President of India, on the recommendation of the Government of India, has approved the proposal for summoning both Houses of Parliament for the Budget Session, 2024, from July 22, 2024, to August 12, 2024 (subject to parliamentary business exigencies). The Union Budget 2024-25 will be presented in Lok Sabha on July 23, 2024," announced Kiren Rijiju, Minister of Parliamentary Affairs. The Economic Survey will be released on July 22.
Key Highlights for Modi 3.0 The budget in February was a temporary one due to the Lok Sabha elections in April and May. This upcoming budget will be the first for Prime Minister Narendra Modi's government in its third term. President Droupadi Murmu has stated it will include many significant measures.
The government is expected to focus on employment and maintain macroeconomic stability. The budget will build on the initial 100-day plan set before the elections and will include long-term strategies from five-year plans and a vision document aiming to make India a developed nation by 2047.
Sitharaman's Interim Budget Insights In the last Interim Budget, Finance Minister Nirmala Sitharaman projected a fiscal deficit of 5.1% of GDP for FY25. The government continued to emphasize capital expenditure, increasing it by 16.9% to Rs 11.11 lakh crore.
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