Union Budget 2024-25 will be unveiled by Finance Minister Nirmala Sitharaman on Tuesday, July 23. This will be her seventh budget presentation and the first under the Modi 3.0 administration. The budget is set to advance initiatives that align with the Viksit Bharat 2047 Vision while ensuring fiscal responsibility. President Droupadi Murmu has given official approval to the Union Budget 2024 and announced the budget session dates, paving the way for this crucial parliamentary event.
Important Details:
Date and Time: The Union Budget 2024 will be presented on July 23 at 11 am.
Parliament Budget Session: The Budget Session of Parliament is scheduled to begin on July 22 and will run until August 12, 2024. The first session of the 18th Lok Sabha commenced on June 25, 2024, and will conclude on July 4.
Economic Survey: The Economic Survey is an annual report prepared and presented by the Ministry of Finance, usually a day before the Union Budget. It provides a comprehensive review of the nation’s economic performance over the previous financial year, including data on GDP growth, inflation, employment, and the fiscal deficit. It also suggests policy measures to address economic challenges and promote growth.
The Economic Survey is prepared under the leadership of the Chief Economic Adviser (CEA) of India, V. Anantha Nageswaran, and his team within the Ministry of Finance. The Finance Minister presents this document in Parliament.
Understanding the Union Budget
The Union Budget, also known as the annual financial statement, details the estimated receipts and expenditures for the financial year. The budget preparation process for 2024 began on September 4, 2023, under the Ministry of Finance.
Expectations:
The Union Budget 2024 is expected to focus on economic growth by stabilizing inflation and investing in critical sectors such as agriculture, education, healthcare, and infrastructure. In light of current economic challenges, the budget aims to balance ambitious initiatives with fiscal discipline.
Where to Watch:
Live streaming of the Budget 2024 presentation will be available on the official budget website – budgetlive.nic.in. Additionally, the budget speech will be broadcast live on Sansad TV, Doordarshan TV channels, and their respective YouTube channels.
