Finance Minister Nirmala Sitharaman to Unveil Interim Budget 2024-25 on February 1 at 11 am

वित्त मंत्री निर्मला सीतारमण 1 फरवरी को सुबह 11 बजे अंतरिम बजट 2024-25 का अनावरण करेंगी

Finance Minister Nirmala Sitharaman is gearing up to announce the Interim Budget for the fiscal year 2024-25 on February 1, 2024, at 11 am. This interim budget serves as a vote-on-account, granting the government spending authority until the formation of a new government post the 2024 Lok Sabha elections.

Key Points:

1. Interim Budget Details:

- Scheduled for February 1, 2024, at 11 am, Finance Minister Nirmala Sitharaman will present the Interim Budget, setting the stage for financial policies until the new government is in place.

- This marks Sitharaman's sixth consecutive budget presentation, a feat previously achieved only by former Prime Minister Morarji Desai.

2. Vote-on-Account Significance:

- The interim budget allows the government to spend specific amounts until the new government takes office after the 2024 Lok Sabha elections.

- A comprehensive budget for the fiscal year 2024 is expected to be presented after the new government assumes power.

3. Budget Expectations:

- The common man and experts anticipate significant announcements, especially in areas like income tax, standard deduction, Section 80C limit, and simplification of MSME regulatory processes.

- Salaried taxpayers are keen on relief measures to counter potential tax increases.

- The middle class expects policies fostering employment opportunities, improved access to housing schemes, and enhanced healthcare.

4. Sector-Specific Expectations - Health Industry:

- Health industry demands include increased investment in the First 1000 Days program and maternal nutrition.

- Expectations for continued focus on fiscal consolidation, ease of business, taxation laws, infrastructure, MSMEs, and financial inclusion.

5. Historical Record:

- Finance Minister Nirmala Sitharaman's sixth consecutive budget presentation underscores the significance of this year's budget announcement.

- This budget lays the groundwork for crucial policies leading up to the 2024 Lok Sabha elections, where Prime Minister Modi seeks re-election for a historic third consecutive term.

Finance Minister Nirmala Sitharaman's announcement of the Interim Budget 2024-25 on February 1 holds immense significance, shaping the financial landscape until the new government assumes power after the 2024 Lok Sabha elections. The expectations from various sectors, including health and industry, add anticipation to this critical budget announcement.