Nirmala Sitharaman will present the Union Budget 2024 in Parliament on Tuesday
New Delhi: Minister Nirmala Sitharaman presented the Economic Survey 2023-24 in Parliament on the first day of the Budget session. The survey highlights the resilience of the Indian economy and its robust recovery following the pandemic. It conservatively projects that India’s real GDP will grow by approximately 6.6-7% in FY25.
On July 23, 2024, FM Sitharaman will present the Union Budget 2024 in Parliament. This will be the first Budget of the newly elected NDA government led by PM Narendra Modi. Prime Minister Narendra Modi on Monday made a significant appeal to the opposition to rise above party politics and serve the nation. Addressing the press ahead of the Budget session, PM Modi appealed to opposition parties doing ‘negative politics’ to ‘get rid of past bitterness and come together.’
“I would like to request all the MPs of the country that from January till now we have fought as much as we had to, but now that period is over, the public has given its verdict. I would like to ask all the parties to rise above party lines and dedicate themselves to the country and use this dignified platform of Parliament for the next 4.5 years. In the election year of January 2029, you can play any game, but till then we should participate for the empowerment of the farmers, youth, and the country,” he added.Given the less-than-expected mandate for the NDA in the Lok Sabha polls of 2024, the Union Budget 2024 is likely to strike a balance between reforms and populism. As every year, the common man, middle class, and salaried individuals have high expectations from Budget 2024 to provide income tax relief and leave more cash in hand. Experts expect changes in the new income tax regime to make it more attractive for individual taxpayers. FM Sitharaman is likely to stick to the fiscal consolidation path with an aim to contain the fiscal deficit. However, the Modi 3.0 government is also anticipated to continue with its record capex push with a focus on infrastructure.
