The full Budget for the fiscal year 2024-25 will be presented in the Lok Sabha on July 23, 2024, announced Union Minister Kiren Rijiju on Saturday. The Budget Session of Parliament is set to commence on July 22 and will conclude on August 12, subject to the exigencies of Parliamentary business.
Finance Minister Nirmala Sitharaman, who previously presented an interim Budget in February ahead of the Lok Sabha elections, will deliver her seventh consecutive Budget. This achievement makes her the first finance minister in India's history to achieve such a milestone, surpassing the record previously held by Morarji Desai.
This Budget marks the first under Prime Minister Narendra Modi's third term in office and is noteworthy as it's the first time the BJP does not hold a full majority on its own.
President Droupadi Murmu highlighted that the upcoming Budget will introduce "many historic steps" aimed at accelerating economic and social reforms. The government aims to align these measures with the aspirations of the Indian populace for rapid development.
Among the anticipated announcements, there is widespread expectation for changes in the income tax structure, potentially providing relief to middle-class and salaried individuals, thereby boosting disposable incomes.
With significant anticipation and expectations riding on the Budget, stakeholders across sectors await crucial economic decisions that will shape the fiscal landscape for the coming year.
The Budget Session of Parliament promises to be pivotal, setting the stage for India's economic trajectory amidst evolving global and domestic challenges.
