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Finance Minister Nirmala Sitharaman is set to present the Union Budget for the year 2024-25 on July 23, marking a significant moment in Indian economic policy under Prime Minister Narendra Modi’s third term. The announcement comes as the Budget session of Parliament is scheduled to commence on July 22 and conclude on August 12, as confirmed by Union Minister Kiren Rijiju.
This budget presentation holds historical significance as it will be Sitharaman’s seventh consecutive Budget, making her the first finance minister in India to achieve this milestone, surpassing the record set by Morarji Desai. The interim Budget was presented earlier in February ahead of the Lok Sabha elections.
President Droupadi Murmu’s recent address heightened anticipation for the Budget, hinting at “many historic steps” aimed at accelerating reforms and aligning with the country’s aspirations for rapid development.
One of the major expectations from the upcoming Budget is a potential revision in the income tax structure, aimed at providing relief to the middle and salaried classes by increasing disposable income.
However, the session is expected to be contentious, following a stormy start in the Parliament’s special session. With the strengthened opposition, led by Rahul Gandhi as the new Leader of the Opposition, issues such as the NEET paper leak, Manipur crisis, Emergency, Agnipath scheme, and concerns about constitutional integrity are likely to dominate discussions.
Despite the BJP-led NDA coalition holding a majority with 293 seats, the opposition’s strong presence underscores a potentially heated debate during the Budget session.
Sources By Agencies
