New Delhi: Finance Minister Nirmala Sitharaman will present the Union Budget 2024-25 on July 23, as announced by Parliamentary Affairs Minister Kiren Rijiju on Saturday. The Budget Session of Parliament will begin on July 22 and continue until August 12.
“Hon’ble President of India, on the recommendation of the Government of India, has approved the proposal for summoning of both the Houses of Parliament for the Budget Session, 2024 from 22nd July 2024 to 12 August 2024 (Subject to exigencies of Parliamentary Business). Union Budget, 2024-25 will be presented in Lok Sabha on 23 July 2024,”Parliamentary Affairs Minister Kiren Rijiju announced on X (formerly Twitter).
After presenting an interim budget before the Lok Sabha elections, Finance Minister Nirmala Sitharaman will now unveil the full budget for 2024-25. This budget aims to maintain the economy’s high growth trajectory and create more jobs under the Modi 3.0 government.
Given the low fiscal deficit, the hefty Rs 2.11 lakh crore dividend from the RBI and the buoyancy in taxes, the Finance Minister has a lot of headroom for pushing ahead with policies aimed at accelerating growth and implementing social welfare schemes aimed at uplifting the poor.
Prime Minister Modi has already declared that “the next 5 years will be a decisive fight against poverty.”
Sitharaman will be presenting the budget at a time when the Indian economy has clocked a robust 8.2 per cent growth in 2023-24, which is the fastest among the world’s major economies, and inflation coming down to below 5 per cent. The RBI has stated that the economy is headed to an over 8 per cent growth trajectory.
The fiscal deficit has also been reduced from more than 9 per cent of GDP in 2020-21 to the targeted level of 5.1 per cent for 2024-25. This has strengthened the macroeconomic fundamentals of the economy. S&P Global Rating raised India’s sovereign rating outlook to ‘positive’ from ‘stable’, citing the country’s improving finances and strong economic growth. (With IANS Inputs)
