Union Budget 2024 LIVE: Finance Minister Nirmala Sitharaman will present her seventh Budget on July 23. This will be the first full budget of Modi’s third term, aiming to pave the way for a developed India (Viksit Bharat) by 2047.
In February, Sitharaman presented an interim budget for 2024-25 ahead of the Lok Sabha election.
As part of the budget preparation process, Sitharaman completed consultations with various stakeholders, including industry and social sector representatives.
Many experts have called on the government to provide tax relief to boost consumption, curb inflation, and accelerate economic growth.
The Budget for 2024-25 will be the first major economic document of the Modi 3.0 government, which, among other things, is expected to lay the road map for making India a developed nation by 2047.
Last month, President Droupadi Murmu, while delivering her address to the joint sitting of Parliament, had said that many historic steps and major economic decisions will be taken in the upcoming budget session.
In her first address to the joint sitting of Parliament since the constitution of the 18th Lok Sabha, the President said, “This budget will be an effective document of the government’s far-reaching policies and futuristic vision”.
“Along with major economic and social decisions, many historic steps will also be seen in this budget,” she said.
Suggestions were also made to accelerate economic growth and improve agricultural productivity.
In the course of in-person consultations, more than 120 invitees across 10 stakeholder groups, including experts and representatives from farmer associations and agriculture economists; trade unions; education & health sector; employment & skilling; MSME; trade & services; industry; economists; financial sector & capital markets; as well as, infrastructure, energy and urban sector, participated in the meetings, it said.