Finance Minister Nirmala Sitharaman will present the Union Budget 2024 in Parliament today, marking her seventh consecutive budget and surpassing the late Morarji Desai’s record of six. The budget is expected to focus on changes to the income tax structure and improving the ease of doing business in India.At 11 am, the much-awaited full budget for 2024–25, the first under the Modi 3.0 government, will be presented on the floor of Parliament.Attention will be on the major announcements by the finance minister and the government’s guidance on the overall economy.Earlier, the interim budget, tabled on February 1, addressed the financial needs of the intervening period until a new government was formed after the Lok Sabha elections, after which the full budget is now being presented.Meanwhile, the government released its Economic Survey on Monday, prepared by Chief Economic Advisor V Anantha Nageswaran, which provides an overview of the country’s economic performance, prospects, and policy recommendations, including future outlook.As per the Economic Survey, India is poised to remain the fastest-growing major economy in 2024–25, with an expected growth rate of 6.5–7%.After the budget is presented, it undergoes detailed debate and discussion in both houses of Parliament. Members scrutinise its provisions, raise concerns, and propose amendments. Following its approval by Parliament, the Union Budget sets in motion a series of post-budget activities aimed at implementing its provisions and achieving the outlined objectives.
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