Finance Minister Nirmala Sitharaman unveiled the Union Budget for the fiscal year 2024-25 on July 23, marking her seventh consecutive budget presentation and the first for the Modi 3.0 government. Emphasizing India’s economic resilience and growth, Sitharaman highlighted the government’s commitment to inclusive development and women’s empowerment. The budget, approved by the Union Cabinet, is expected to focus on tax reforms, ease of doing business, and significant increases in allocations for women’s welfare.
BulletsIn
- Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 on July 23, 2024.
- This is Sitharaman’s seventh consecutive budget and the first of the Modi 3.0 government.
- She described India’s economic growth as a “shining exception” in her initial comments.
- The Union Budget was approved by the Union Cabinet, led by Prime Minister Narendra Modi.
- The budget session of Parliament began on July 22 and will conclude on August 12.
- The Economic Survey 2023-24 was tabled in Parliament a day prior to the budget presentation.
- Minister of State for Finance Pankaj Chaudhary stated the budget aligns with Modi’s “Sabka Saath Sabka Vikas” mantra.
- Union Minister Pralhad Joshi asserted that the budget would further accelerate India’s economic growth.
- The Economic Survey highlighted the resilience of India’s economy and the government’s focus on women’s empowerment.
- The budget allocation for women’s welfare and empowerment schemes increased by 218.8%, with significant growth in the Gender Budget Statement.
