The budget session of Parliament will start from July 22 and continue till August 12.
“The Honorable President of India, on the recommendation of the Government of India, has approved the proposal to convene both Houses of Parliament for the Budget Session, 2024, from 22 July 2024 to 12 August 2024 (subject to exigencies of Parliamentary business). The Union Budget, 2024-25 will be presented in the Lok Sabha on July 23, 2024,” the Parliamentary Affairs Minister told X.
After presenting the interim budget ahead of the Lok Sabha elections, the Finance Minister will now present the full budget for 2024-25 that ensures the economy continues on a high growth path and creates more jobs during the Modi 3.0 government.
Given the low fiscal deficit, huge dividend of Rs 2.11 lakh crore from the RBI and a jump in taxes, the Finance Minister has the leeway to pursue policies aimed at accelerating growth and implementing social welfare schemes aimed at upliftment of the poor. There is a lot of scope for this.
Prime Minister Modi has already declared that "the next 5 years will be a decisive fight against poverty."
Sitharaman will present the Budget at a time when the Indian economy has achieved a strong growth of 8.2 per cent in 2023-24, the fastest among the world's major economies, and inflation is coming down to below 5 per cent. RBI has said that the economy is headed towards a growth path of more than 8 percent.
Fiscal deficit has also come down from 9 per cent of GDP in 2020-21 to the target level of 5.1 per cent for 2024-25. This has strengthened the macroeconomic foundation of the economy. S&P Global Ratings has raised India's sovereign rating outlook to 'positive' from 'stable', citing the country's improved financial position and strong economic growth.
“The Honorable President of India, on the recommendation of the Government of India, has approved the proposal to convene both Houses of Parliament for the Budget Session, 2024, from 22 July 2024 to 12 August 2024 (subject to exigencies of Parliamentary business). The Union Budget, 2024-25 will be presented in the Lok Sabha on July 23, 2024,” the Parliamentary Affairs Minister told X.
After presenting the interim budget ahead of the Lok Sabha elections, the Finance Minister will now present the full budget for 2024-25 that ensures the economy continues on a high growth path and creates more jobs during the Modi 3.0 government.
Given the low fiscal deficit, huge dividend of Rs 2.11 lakh crore from the RBI and a jump in taxes, the Finance Minister has the leeway to pursue policies aimed at accelerating growth and implementing social welfare schemes aimed at upliftment of the poor. There is a lot of scope for this.
Prime Minister Modi has already declared that "the next 5 years will be a decisive fight against poverty."
Sitharaman will present the Budget at a time when the Indian economy has achieved a strong growth of 8.2 per cent in 2023-24, the fastest among the world's major economies, and inflation is coming down to below 5 per cent. RBI has said that the economy is headed towards a growth path of more than 8 percent.
Fiscal deficit has also come down from 9 per cent of GDP in 2020-21 to the target level of 5.1 per cent for 2024-25. This has strengthened the macroeconomic foundation of the economy. S&P Global Ratings has raised India's sovereign rating outlook to 'positive' from 'stable', citing the country's improved financial position and strong economic growth.
