The Interim Budget 2024 will be presented in Parliament by Union Finance Minister Nirmala Sitharaman on February 1. She mentioned that there won’t be any major announcements in this budget. It’s not a full budget, so she didn’t present the Economic Survey today.
As 2024 is an election year for the Lok Sabha, the budget to be presented will only cover essential expenses, known as a vote-on-account. The complete budget for 2024-25 will be introduced after the elections, around July. The new government, expected to take shape in June, will then present the final budget for the upcoming fiscal year.
When Budget will be revealed?
The Union Budget is set to be revealed on February 1 at 11 am. Nirmala Sitharaman, India’s first full-time female finance minister, will deliver her budget speech. You can catch the live broadcast on India Today and Aaj Tak TV channels, as well as on Business Today’s YouTube channel.
Stay updated with the latest information by following live blogs on Business Today, India Today, and Aaj Tak. Sitharaman’s speech will also be available on Doordarshan (DD) News, the YouTube channel, and website of the Press Information Bureau (PIB).
Budget Presentation:
This marks Sitharaman’s sixth consecutive budget, a feat matched only by Dr. Manmohan Singh. Having taken office in July 2019, she has presented five full budgets so far. With the upcoming Interim Budget, Sitharaman will surpass the records set by her predecessors, Arun Jaitley and Yashwant Sinha, both of whom presented five consecutive budgets.
Sitharaman will overtake Manmohan and Jaitley:
The Finance Minister is set to unveil the interim budget on February 1, 2024. This year’s complete budget is expected in July after the general elections. The interim budget for the fiscal year 2024-25, to be presented on February 1, is termed a “vote on account.”
This means the government can spend on specific items until the new government forms after the general elections in April-May. By presenting the interim budget, Finance Minister Nirmala Sitharaman will surpass the achievements of former finance ministers like Manmohan Singh, Arun Jaitley, P Chidambaram, and Yashwant Sinha, who all presented five consecutive budgets.
Following Indira Gandhi, Sitharaman is the second woman to present the budget.
Since the Modi government took charge in 2014, the Finance Ministry was led by Arun Jaitley, a seasoned BJP leader. He presented five budgets in a row from 2014-15 to 2018-19. Due to Jaitley’s health issues, Piyush Goyal took on the additional responsibility of the Finance Ministry before the 2019 general elections and presented the interim budget on February 1, 2019.
Following the 2019 general elections, Nirmala Sitharaman took charge of the Finance Department in the Modi 2.0 government. Since then, she has presented five consecutive budgets. This makes her the second woman, after Indira Gandhi, to present the budget. Indira Gandhi had presented the budget for the financial year 1970-71.
Once Finance Minister Sitharaman announces Budget 2024, all associated documents will be made available for public viewing on https://www.indiabudget.gov.in.
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