Finance Minister Nirmala Sitharaman is set to present the Union Budget in Parliament on July 23, marking the first budget of Modi 3.0. The parliament session commences on July 22, with the budget scheduled for the following day. Unlike previous occasions, this budget follows the NDA government’s formation with allied support, raising high expectations among allied states. Prime Minister Modi has actively focused on the budget, convening a special review meeting upon his return from visits to Russia and Austria.
In attendance were Niti Aayog officials, financial aides, and Finance Minister Nirmala Sitharaman. Also present were Planning Minister Rao Indrajit Singh, Chief Economic Advisor V Anantha Nageswaran, economist Surjit Bhalla, agriculture economist Ashok Gulati, and banker K V Kamath. Ahead of this, Nirmala Sitharaman engaged extensively with Indian industrialists, state finance ministers, and economists to gather their insights. Both the Prime Minister and Finance Minister aim to position India as a developed nation by 2047.
Following her presentation of the interim budget before the Lok Sabha elections, Nirmala Sitharaman will now present the full budget for 2024-25. Anticipations suggest a potential increase in the income tax exemption limit to provide relief to the middle class.
PM Modi convenes meeting with NITI Aayog officials
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