Lok Sabha Greenlights Rs 48.21-lakh Crore Budget for 2024-25

The Lok Sabha approved the Rs 48.21-lakh crore Budget for 2024-25 alongside the budget for the Union Territory of Jammu and Kashmir. Both budgets were passed by a voice vote, along with relevant appropriation bills. Finance Minister Nirmala Sitharaman stated the fiscal deficit aims to reduce to 4.9% of GDP in 2024-25 and below 4.5% by 2025-26.

The Lok Sabha has sanctioned the Union Government's Rs 48.21-lakh crore Budget for the fiscal year 2024-25. In addition, the lower House has also approved the budget for the Union Territory of Jammu and Kashmir via a voice vote.

The Union Budget and Budget for Jammu and Kashmir were successfully passed by the Lok Sabha, along with the relevant appropriation bills, through a voice vote.

While responding to the debate, Finance Minister Nirmala Sitharaman disclosed plans to reduce the central government's fiscal deficit to 4.9% of GDP during 2024-25 and further down to sub-4.5% by 2025-26.