Union Budget 2024-25 to be presented on July 23
Finance Minister Nirmala Sitharaman will present the Union Budget for 2024-25 in the Lok Sabha on July 23, Parliamentary Affairs Minister Kiren Rijiju announced on Saturday. The session will begin on July 22 and is scheduled to end on August 12. This year, it was announced twice due to the Lok Sabha elections, with the interim budget being presented on February 1.
Check out the announcement here
First budget of Modi 3.0
This will be the first budget of Prime Minister Narendra Modi's third term. In her first address to the joint sitting of Parliament, President Droupadi Murmu said the first budget will take "many historic steps" as well as accelerate the pace of economic reforms to make India the world's third largest economy. "Along with major economic and social decisions, many historic steps will also be seen in this budget," she said without elaborating.
India's yearly growth rate averaged 8% between 2021-2024
With the National Democratic Alliance (NDA) retaining power for a third term, analysts anticipate significant policy continuity, with the government continuing to emphasize infrastructure capital expenditures, business environment improvements, and gradual budgetary restructuring. The President stated that India's drive to "reform, perform, and change" had resulted in the world's fastest-growing economy, with the country rising from the 11th to the 5th largest economy. Between 2021 and 2024, India's yearly growth rate averaged 8%.
Where to watch
The budget address will be broadcast live on Parliament's official channels, Sansad TV and Doordarshan, as well as the new channels' respective YouTube pages. The Union Budget Web Portal (www.indiabudget.gov.in), available in English and Hindi, also offers digital access to the Budget 2024 papers. This contains budget documents such as the annual financial statement, grant proposals, and finance laws as mandated by the Constitution.
