Budget 2024 date: The Union Budget 2024 is likely to be unveiled by Finance Minister Nirmala Sitharaman on July 22. This will be the first comprehensive Budget presented by the Modi 3.0 government since assuming office.
Prime Minister Modi’s administration will prioritize addressing the challenges faced by the agriculture sector, creating jobs, sustaining the momentum of capital expenditure, and increasing revenue growth to maintain the fiscal consolidation path, according to an ET report.
Simplifying the Goods and Services Tax (GST) and reducing the burden of tax compliance are also expected to be high on the government’s agenda.
The upcoming Budget 2024 is likely to incorporate elements from the 100-day plan that Prime Minister Narendra Modi instructed his team to formulate. Additionally, the government intends to expand its production-linked incentive (PLI) schemes to include more labor-intensive sectors, such as the leather industry.
This will be Finance Minister Nirmala Sitharaman’s seventh consecutive budget presentation. Her previous Budget, presented in February, was an interim budget due to the Lok Sabha elections that were scheduled between April and May.
In the interim budget, the government emphasized economic policies aimed at promoting growth, fostering inclusive development, enhancing productivity, and creating opportunities for various segments of society.
The government also said that it would give special attention to the eastern region, including the states of Bihar, Jharkhand, Chhattisgarh, Odisha, and West Bengal, to transform them into growth engines as part of the vision to make India a developed nation by 2047.
Prime Minister Modi’s administration will prioritize addressing the challenges faced by the agriculture sector, creating jobs, sustaining the momentum of capital expenditure, and increasing revenue growth to maintain the fiscal consolidation path, according to an ET report.
Simplifying the Goods and Services Tax (GST) and reducing the burden of tax compliance are also expected to be high on the government’s agenda.
The upcoming Budget 2024 is likely to incorporate elements from the 100-day plan that Prime Minister Narendra Modi instructed his team to formulate. Additionally, the government intends to expand its production-linked incentive (PLI) schemes to include more labor-intensive sectors, such as the leather industry.
This will be Finance Minister Nirmala Sitharaman’s seventh consecutive budget presentation. Her previous Budget, presented in February, was an interim budget due to the Lok Sabha elections that were scheduled between April and May.
In the interim budget, the government emphasized economic policies aimed at promoting growth, fostering inclusive development, enhancing productivity, and creating opportunities for various segments of society.
The government also said that it would give special attention to the eastern region, including the states of Bihar, Jharkhand, Chhattisgarh, Odisha, and West Bengal, to transform them into growth engines as part of the vision to make India a developed nation by 2047.