Finance Minister Nirmala Sitharaman unveiled the Interim Budget 2024 in Parliament, a crucial move preceding the upcoming Lok Sabha Elections. The budget, her sixth, brought no alterations to tax slabs in both old and new regimes. Prime Minister Narendra Modi commended Sitharaman for presenting a balanced budget, setting the stage for the new government post-elections to present a comprehensive budget.
As an interim budget, this serves as a short-term financial plan, seeking parliamentary approval for an advance grant to cover essential government expenditures for the initial four months of the upcoming financial year. The full-fledged budget, with potential policy shifts and reforms, will be presented by the incoming government.
President Droupadi Murmu’s address marked the commencement of the Budget Session of Parliament, addressing both Rajya Sabha and Lok Sabha. The session, scheduled to conclude on February 9, is a crucial platform for discussions and debates on the nation’s economic trajectory.
Anticipation around the budget influenced the stock markets, prompting an opening in the green. Opposition leaders, however, expressed disappointment with Sitharaman’s budget presentation. Congress MP Shashi Tharoor criticized the budget for its perceived emphasis on rhetorical language.
Sitharaman’s budget speech, lasting 56 minutes, marked her shortest ever presentation. The brevity suggests a focused approach, emphasizing key points without unnecessary elaboration. The Finance Minister’s concise delivery reflects a strategic effort to communicate key budgetary aspects efficiently.
As the nation awaits the election outcome and the subsequent formation of a new government, the interim budget provides a glimpse into the fiscal priorities and considerations, setting the stage for potential economic policies in the forthcoming full-fledged budget presentation. The discussions and debates during the ongoing Budget Session will play a pivotal role in shaping the economic landscape for the upcoming financial year.
Check here for the latest updates in Hindi!