When Will India Present Its Budget? July 22 Set for Key Economic Announcements
When Will India Present Its Budget? July 22 Set for Key Economic Announcements

The Union Budget 2024 is slated to be presented on July 22, as per sources close to the developments. This will be the first full Budget under the Modi 3.0 administration.

Prime Minister Narendra Modi's government aims to prioritize several key areas in this Budget. Key focuses will include addressing challenges in the agriculture sector, creating employment opportunities, maintaining capital expenditure momentum, and boosting revenue growth to stay on track with fiscal consolidation goals. Additionally, simplifying the GST system and reducing tax compliance burdens are expected to be major agenda points.

The upcoming Budget is also likely to feature elements from the 100-day plan that Prime Minister Modi has tasked his team with developing. Furthermore, the government plans to expand its production-linked incentive (PLI) schemes to include more employment-generating sectors, such as the leather industry.

Finance Minister Nirmala Sitharaman's last Budget presentation was a vote on account due to the Lok Sabha elections held between April and May. This forthcoming Budget will mark her seventh consecutive presentation.

In the interim budget presented in February, the government emphasized policies aimed at fostering economic growth, promoting inclusive development, enhancing productivity, and creating opportunities for various population segments. It also highlighted a commitment to focusing on the eastern region, including the states of Bihar, Jharkhand, Chhattisgarh, Odisha, and West Bengal, aiming to transform them into growth engines as part of the broader goal to make India a developed country by 2047.

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