Finance Minister Sitharaman Prepares to Present Historic Union Budget 2024

Finance Minister Nirmala Sitharaman is set to present the Union Budget 2024-25 to Parliament, marking her seventh consecutive budget. The economic survey forecasts a potential 7% growth for India, stressing structural reforms and private investment. Key areas include MSMEs, agriculture, green transition, and state capacity building.

Finance Minister Nirmala Sitharaman departed from the North Block offices on Tuesday, carrying the Union Budget 2024-25 in digital format. Before presenting the budget, she met President Droupadi Murmu at Rashtrapati Bhavan, accompanied by her team and posing for photos with the red 'Bahi Khatha' digital tablet.

Today, Sitharaman will present her seventh consecutive Union Budget in Parliament, surpassing late Morarji Desai's record. The budget is expected to focus on changes in the income tax structure and enhancing the ease of doing business. Minister of State for Finance Pankaj Chaudhary noted that the budget follows Modi's principle of "Sabka Saath Sabka Vikas".

The Parliament's budget session, which started on July 22, will conclude on August 12. The economic survey presented by Sitharaman states that India can sustain a 7% growth rate by leveraging structural reforms from the past decade. It calls for a collaborative effort between the Union Government, State Governments, and private sector amidst global challenges like geo-economic fragmentation, climate change, and technological advances.

Emphasizing bottom-up reforms and improved governance, the survey outlines a medium-term growth strategy called "Amrit Kaal" focused on six critical areas: boosting private investment, expanding MSMEs, recognizing agriculture's growth potential, securing green transition financing, bridging the education-employment gap, and building state capacity.