Updated on: Jan 31st, 2024
4 min read
Finance Minister Nirmala Sitharaman is set to present a crucial interim budget for the Modi government on February 1, 2024, just months before the Lok Sabha elections. The Budget presentation starts at 11 AM. This budget faces the delicate challenge of balancing bold initiatives with fiscal responsibility amidst these economic headwinds.
Chief Economic Advisor V Anantha Nageswaran believes private sector investment is key to rebalancing the Indian economy towards investment and manufacturing, shifting away from its current consumption-driven model. He urges businesses to embrace the "decade of uncertainty" and start investing despite volatile global conditions.
Finance Minister Sitharaman will likely present the Interim Budget 2024-2025 on February 1, 2024, at 11:00 AM.
The Budget Session of Parliament is expected to begin in the last week of January and conclude in April.
President Droupadi Murmu will officially open the Budget Session by addressing both Houses of Parliament on the first day.
Instead of the usual full-fledged report, a concise document summarising the state of India's economy will be presented before the interim Budget.
An interim budget is a temporary financial plan for a few months until a new government is formed. It manages expenses until a full budget is presented by the new government in July.
The Ministry of Finance started working on the Budget on September 4, 2023.
Fiscal deficit is the difference between a government's revenue and expenditure in a year. It indicates the gap between what it earns and what it spends.
Stay tuned for further updates on Budget 2024 and its implications for India's economy!
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