Budget 2024 date:
Finance Minister Nirmala Sitharaman to present Union Budget in Lok Sabha on July 23
Jul 6, 2024
Budget 2024 Date: Finance Minister Nirmala Sitharaman will be presenting the Union Budget that will lay the roadmap of Modi 3.0 on July 23 in Lok Sabha. The Parliamentary session for the Budget will commence on July 22 and continue till August 22.
"Hon’ble President of India, on the recommendation of 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," said Kiren Rijiju, Minister of Parliamentary Affairs.
The Economic Survey will be released on July 22.
Budget 2024: Modi 3.0 first policy announcement
The last budget presented by the Finance Minister in February was a vote on account owing to the Lok Sabha elections that were scheduled in April and May. This will be the first budget presented by the coalition government led by Prime Minister Narendra Modi in its third term amid high anticipation following President Droupadi Murmu's assertion that it will be marked by many historic steps.
The Centre, for the full-budget, is expected to lay focus on employement with continued focus on macroeconomic stability, reported ET.
The final plan will lean on the agenda for the first 100 days, prepared before the elections. The longer-term plan will draw from five-year plans and the vision document for making India a developed nation by 2047.
For the fourth quarter, India's gross domestic product (GDP) grew at 7.8 per cent on an annual basis in the last quarter (Q4) of the FY24 . Additionally, the Centre hiked its overall growth rate of FY24 to be 8.2 per cent.
The PM Modi-led government currently enjoys a hefty cheque it received from the Reserve Bank of India amounting to Rs 2.11 lakh crore as dividend. A higher dividend would help the Centre hit its fiscal deficit target of 5.1 per cent of GDP for FY25. The newly-elected government will have a higher amount to spend.
Nirmala Sitharaman's interim budget:
In the last Interim Budget presented by Sitharaman, Sitharaman had pegged fiscal deficit for FY25 at 5.1 per cent of GDP. The government had continued its focus on capital expenditure, this time hiking it by 16.9 per cent to Rs 11.11 lakh crore.
Recap of last Parliament session:
The first session of Parliament after the formation of 18th Lok Sabha was stormy with the opposition and government clashing on a range of issues including NEET-UG examination row.
President Droupadi Murmu addressed the joint sitting of two Houses on June 27 and both Lok Sabha and Rajya Sabha adopted motion of thanks on the President's address.
PM Modi replied to the debate on the motion of thanks in the two Houses of Parliament. BJP-led National Democratic Alliance returned to power for the third successive term in the general elections.
Budget FAQs:
When is Finance Minister presenting Union Budget 2024?
The budget will be presented on July 23
Time of Budget presentation:
Nirmala Sitharaman will present the budget at 11:oo am
What will be key focus of Budget?
Job creation with focus on macroeconomics stability
[The Economic Times]
