Nirmala Sitharaman to Present Seventh Consecutive Budget Amidst Calls for Increased Capital Expenditure

Finance Minister Nirmala Sitharaman will present the first full budget of the BJP-led NDA government in its third term on July 23. The budget session will start on July 22 and conclude on August 12. Industry bodies have urged increased capital expenditure, marking Sitharaman's seventh consecutive budget presentation.

In the first full budget of the BJP-led NDA government's third term, Finance Minister Nirmala Sitharaman is set to present the Union Budget 2024-25 on July 23. The budget session will commence on July 22 and will conclude on August 12, according to an official statement released on Saturday.

As part of the pre-budget consultations, Sitharaman has been meeting with economists, financial experts, industry representatives, and agriculture specialists. The Confederation of Indian Industry (CII) has called upon the government to increase capital expenditure in the upcoming budget, which will be Sitharaman's seventh consecutive budget presentation, a record for an Indian Finance Minister.

Parliamentary Affairs Minister Kiran Rijiju confirmed the session dates, noting that both houses of Parliament will convene for the budget session, starting July 22. Rijiju also remarked on a key budget highlight: the capital expenditure outlay for the upcoming year is set to increase by 11.1% to Rs. 11,11,111 crore, comprising 3.4% of the GDP.

Following the results of the general elections, newly-elected Lok Sabha members took oath in the 18th Lok Sabha's first session held from June 24 to July 2. President Droupadi Murmu addressed a joint sitting of both Houses on June 27, with subsequent adoption of a motion of thanks by Lok Sabha and Rajya Sabha. Prime Minister Narendra Modi replied to the debate on the motion of thanks, marking the BJP-led National Democratic Alliance's third successive term in power.

(With inputs from agencies.)