Finance Minister Nirmala Sitharaman will present the Union Budget for the seventh consecutive time on Tuesday, with expectations from the public for reductions in LPG and petrol prices and a revision of the income tax slabs.
Amit Sharma, a resident from Howrah, expressed hope for a better budget compared to the previous year, highlighting the need for revised tax slabs and reduced prices for petrol and LPG. He also praised the improved railway connectivity over the last 5-10 years.
Komal Singh, another local from Howrah, emphasized the need to lower gas cylinder prices to ease difficulties faced by women and called for inflation control.
In Chennai, resident Mahavir Dugar showed optimism about the budget, noting that concessions might be given due to upcoming assembly elections and the growing economy, which has led to increased incomes.
Sitharaman’s presentation of the Union Budget 2024 in Parliament today marks her seventh consecutive budget, surpassing the late Morarji Desai’s record of six. The budget is expected to focus on changes in the income tax structure and improving the ease of doing business in India.
The full budget for 2024-25, the first under the Modi 3.0 government, will be presented at 11 AM in Parliament. Key announcements and forward-looking guidance on the economy are anticipated. Sitharaman will also present statements on the estimated receipts and expenditures for 2024-25 in the Rajya Sabha, along with fiscal policy strategy and macro-economic framework statements under the Fiscal Responsibility and Budget Management Act, 2003.
The economic survey presented by Sitharaman indicates that the Indian economy can grow at a rate of 7% in the medium term.
