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Finance Minister Nirmala Sitharaman is all set to table the Interim Budget for the financial year 2024-25 today. Markets, investors, and all stakeholders are awaiting to see the financial blueprint for the upcoming fiscal year. The budget being of an interim nature is not expected to include any major policy revisions, however, experts feel it will have certain changes of a populist nature.
The finance minister is scheduled to table the Interim Budget in Parliament starting at 11 am IST. Sitharaman’s address will be streamed live on the official Parliamentary channel on YouTube and can be seen on TV on the Doordarshan and Sansad TV channels. The full speech of the address will be available online on the Union Budget website/app, after the official presentation concludes.
The Budget Session began Wednesday, January 30, 2024, and will end on February 9, 2024. The session started with President Droupadi Murmu’s address in the Parliament.
In her address, the President lauded the country for its achievements. Youth power, women power, farmers, and the poor are the four pillars on which a developed economy will be built,” she said.
The President also lauded India for securing a place in the top 5 economies in the world. “Our banking system today has become one of the strongest in the world. Make in India and Atmanirbhar Bharat have become our strengths today. Mobile manufacturing has increased by over 5 per cent,” she said.
Investors will be keenly observing the Budget as stock markets will be indicative of the public’s response to the financial document. In the last trading session on Wednesday, the markets took cues from the upcoming Budget and attempted a recovery rally. After opening, the markets continued to trade in a positive trajectory, ahead of the President’s address in the Budget session. As of 10:09 AM, the Sensex was trading higher by over 200 points at 71,404.58, while the Nifty50 gained more than 50 points and stood at 21,590.85.
By the session’s end, the equity benchmarks settled in green. The S&P BSE Sensex rallied 613 points to end at 71,753. On the other hand, the NSE Nifty50 was settled at 21,726, up 204 points.