Nirmala Sitharaman Presents Historic Union Budget 2024-25

Finance Minister Nirmala Sitharaman presents the Union Budget 2024-25, marking her seventh consecutive budget. The focus is on tax reforms and ease of doing business, aligned with PM Modi's vision. An economic survey anticipates India’s medium-term growth at 7%.

Finance Minister Nirmala Sitharaman arrived in Parliament to present the Union Budget for 2024-25. Earlier, she had a meeting with President Droupadi Murmu at Rashtrapati Bhavan, ahead of the Budget presentation at 11 am.

Sitharaman departed from the North Block offices of the Finance Ministry, clutching the Union Budget 2024-25 in a digital format. Alongside her team, she posed for photographs holding the iconic red 'Bahi Khatha' digital tablet before heading to Rashtrapati Bhavan.

This marks Sitharaman's seventh consecutive budget, surpassing Morarji Desai's record of six. The budget is expected to focus on income tax reforms and enhancing the ease of doing business in India. Speaking to the media, Minister of State for Finance Pankaj Chaudhary stated that the Budget aligns with Prime Minister Modi's 'Sabka Saath Sabka Vikas' ethos.

The Parliament's budget session, which began on July 22, is scheduled to conclude on August 12. On Monday, the economic survey presented by Sitharaman projected a 7% growth rate for India in the medium term, citing the need for continued structural reforms.

The survey highlighted that India is navigating opportunities and challenges posed by global trends such as geo-economic fragmentation and climate change. It stressed the importance of bottom-up reforms and improved governance for sustainable growth.

Dubbed 'Amrit Kaal,' the medium-term growth strategy focuses on six areas: boosting private investment, expanding MSMEs, recognizing agriculture as a growth engine, financing India's green transition, bridging the education-employment gap, and enhancing state capacity.