Union Budget 2024: “Budget Aligned with PM Modi’s Mantra Sabka Saath Sabka Vikas”: Pankaj Chaudhary

Minister Pankaj Chaudhary arrived at North Block ahead of the budget presentation, highlighting that the budget is aligned with PM Modi’s vision of inclusive development. He was joined by Vivek Joshi and V. Anantha Nageswaran from the Finance Ministry team. Finance Minister Nirmala Sitharaman is set to present the Union Budget 2024, her seventh consecutive budget, breaking the previous record held by Moraji Desai.

The budget is anticipated to focus on changes in the income tax structure and enhancing the ease of doing business in India. The Economic Survey 2023-24 was tabulated along with the statistical appendix, and Sitharaman will present the estimated receipts and expenditures for the year 2024-25 in both English and Hindi. The presentation is scheduled to take place in the Rajya Sabha, followed by the budget presentation in the Lok Sabha.

Sitharaman will also present the medium-term fiscal policy strategy statement and macro-economic framework statement, in addition to the estimated receipts and expenditures for the Union Territory of Jammu and Kashmir. The upcoming budget presentation will mark a significant milestone for Sitharaman, as she will surpass the record set by former Prime Minister Morarji Desai. The budget session of Parliament, which began on July 22, is scheduled to conclude on August 12.

The Economic Survey projected India’s real GDP growth at 6.5-7 per cent, mindful of market expectations. Official data showed India’s impressive GDP growth of 8.2 per cent in the financial year 2023-24, following growth rates of 7.2 per cent in 2022-23 and 8.7 per cent in 2021-22.