Union Budget 2024: Anticipation Peaks as Finance Minister Presents Key Fiscal Measures

Finance Minister Nirmala Sitharaman is set to present the Union Budget 2024, marking her seventh consecutive budget. Citizens expect revisions in the income tax slab and reductions in LPG and petrol prices. The budget will focus on tax structure changes and ease of doing business.

Finance Minister Nirmala Sitharaman will present the Union Budget 2024 today, her seventh consecutive presentation. Citizens across India anticipate reductions in LPG and petrol prices alongside a revision of the income tax slab.

'We are expecting the budget to be better than last year,' Amit Sharma from Howrah said. 'The tax slab should be revised and petrol and LPG prices need to be reduced. Railway connectivity has improved over the past decade and this should continue.'

Komal Singh, another resident, voiced concerns about inflation and the high cost of gas cylinders, which she noted significantly impact women. 'The primary focus should be on reducing gas cylinder prices and controlling inflation,' she said.

In Chennai, resident Mahavir Dugar expressed optimism. 'I believe the budget will be beneficial. The economy is growing, our incomes have increased, and with upcoming elections, we can expect more concessions,' he remarked.

Sitharaman's presentation will officially commence at 11 am in Parliament, with the budget primarily aimed at reforming income tax structures and bolstering the ease of doing business in India. This budget marks the first under the Modi 3.0 government and will be closely watched for its strategic economic guidance.

Emphasis will be placed on major announcements affecting the economy, summarized in English and Hindi. The budget includes statements on the medium-term fiscal policy strategy and the macro-economic framework. According to the economic survey presented by Sitharaman, India's economy has the potential to grow at a 7 per cent rate in the medium term.