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The Indian government is gearing up for the presentation of the Union Budget 2024-25, with Finance Minister Nirmala Sitharaman set to deliver her seventh consecutive budget speech on July 23, 2024. This marks a significant milestone, as Ms. Sitharaman will be the first finance minister to present seven consecutive budgets since Morarji Desai, who presented six consecutive budgets in the 1970s. Desai's record was previously considered a significant achievement, but Ms. Sitharaman's continued tenure as finance minister has now surpassed it.
The upcoming budget is anticipated to be a crucial one, as it will be delivered in the midst of a highly charged political atmosphere ahead of the upcoming general elections. The budget is expected to address key economic concerns, including inflation, job creation, and infrastructure development, while also potentially outlining measures to enhance social welfare programs and address other critical issues. The presentation of the budget is likely to be met with intense scrutiny from both within and outside the government, as political parties and the general public await details of the government's financial plans for the coming fiscal year.
The monsoon session of parliament commenced on July 22, with the tabling of the Economic Survey 2023-24. This document provides an analysis of the Indian economy and serves as a prelude to the Union Budget. The Lok Sabha's business advisory committee has allocated a total of 20 hours for the debate on the budget, indicating the significant time and attention that will be devoted to scrutinizing the government's proposals. The focus of the debate will likely include issues related to the ministries of railways, education, health, MSME, and food processing, all of which are key areas of concern for the Indian population. The budget and its subsequent debate are expected to be pivotal moments in shaping the political landscape and economic trajectory of India in the coming year.
Source: Union Budget 2024-25: Nirmala Sitharaman to present Budget for a record seventh time in a row