Union Budget 2024: Balancing Growth, Employment, and Fiscal Targets

Finance Minister Nirmala Sitharaman emphasized that the Union Budget 2024-25 fosters growth, employment, and fiscal consolidation. She noted that the government is on track to meet its fiscal deficit target of 4.5% by 2025-26. Capital expenditure is pegged at Rs 11.11 lakh crore, the highest ever allocation.

Finance Minister Nirmala Sitharaman asserted on Wednesday that the Union Budget 2024-25 meticulously balances growth, employment, and fiscal consolidation while promoting cooperative federalism.

During a Rajya Sabha discussion on the Union Budget and Jammu and Kashmir budget, Sitharaman highlighted the government's trajectory to meet the fiscal deficit target of 4.5% by 2025-26.

The minister, presenting her seventh budget, also highlighted an unprecedented Rs 11.11 lakh crore allocation for capital expenditure, reflecting a 17% increase from the previous year.