Budget 2024 : FM Nirmala Sitharaman presents Interim Budget in Parliament

February 01, 2024
India

New Delhi: The Union Finance Minister, Nirmala Sitharaman, is presenting the Interim Budget today. In the run-up to the 2024 Lok Sabha elections, it is the concluding budget in Prime Minister Narendra Modi’s second term. This interim budget, designed for the period until the new government is formed after the general elections, will precede the comprehensive budget for the financial year 2024-25.

Early this morning, Finance Minister Nirmala Sitharaman and her team were observed utilizing a paperless ‘bahi katha’ at North Block. The Interim Budget details expenditures and revenues up to the formation of the new government, aiding in the management of financial responsibilities during this transitional period.

Before the Interim Budget presentation, President Droupadi Murmu, in her address to a joint session of Parliament, emphasized India’s status as the fastest-growing major economy in the year 2023, achieving a remarkable growth of approximately 7.5% for two consecutive quarters amidst the global crisis.

During an election year, a full budget cannot be presented by the incumbent government. Therefore, an Interim Budget is introduced, covering the government’s expenses and revenues for a brief period. This includes estimates for expenditure, revenue, fiscal deficit, financial performance, and projections for a limited duration.

The Union Budget, on the other hand, serves as the annual financial statement detailing the government’s anticipated costs and expenses for the entire financial year. The full Budget for the financial year 2024-25 will be released after the Lok Sabha elections when the new government assumes office. DeshGujarat

#Nirmala Sitaraman #Union Budget 2024

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