The Modi government is preparing to present the first budget of its new term. This is the first budget of the government's third term. Let us tell you that this year the government is presenting the budget for the second time. Earlier, the government had presented the interim budget in February.
At present, Minister of State for Finance Pankaj Chaudhary said that the first Union Budget of the third term of the Modi government will be based on his mantra of 'Sabka Saath Sabka Vikas'. In such a situation, it remains to be seen how special this time's budget will be.
The Finance Minister will present the full budget.
Finance Minister Nirmala Sitharaman will present the full budget for 2024-25 today. Minister of State Chaudhary said that this budget is based on PM Modi's mantra of Sabka Saath Sabka Vikas.
Chaudhary was also among the first persons of Finance Minister Nirmala Sitharaman's team to reach the North Block offices of the Finance Ministry ahead of the budget presentation.
Before Finance Minister Sitharaman, Department of Financial Services Secretary Vivek Joshi and Chief Economic Advisor V. Anantha Nageswaran have also reached the ministry.
The Finance Minister will set a new record.
Finance Minister Sitharaman is scheduled to present the Union Budget 2024 in Parliament today, which will be her seventh consecutive budget.
With this upcoming budget presentation, Finance Minister Nirmala Sitharaman will surpass the record set by former Prime Minister Morarji Desai, who as Finance Minister presented five annual budgets and one interim budget between 1959 and 1964.
The Budget session of Parliament began on July 22 and will end on August 12 as scheduled.
It is likely to focus on changes in the income tax structure and improving the ease of doing business in India.
Sitharaman on Monday presented the Economic Survey 2023-24 along with the Statistical Appendix.
Sitharaman will present a statement (in English and Hindi) of the government's estimated receipts and expenditures for the years 2024-25 in the Rajya Sabha.
She will present the budget an hour after the conclusion of the presentation of the Union Budget 2024-25 in the Lok Sabha.
What will be presented in the Budget?
The Finance Minister will also lay on the table of the House a copy each (in English and Hindi) of the following documents under sub-section (1) of Section 3 of the Fiscal Responsibility and Budget Management Act, 2003: Medium-term fiscal policy strategy statement and Macroeconomic framework statement.
The central government has taken a big decision on GST rates while taking forward the economic re
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