The Interim Budget for 2024 is poised to be unveiled by Union Finance Minister Nirmala Sitharaman today at 11 am in Parliament. This marks the final budget of the current government and the 6th consecutive budget presented by Nirmala Sitharaman.
The significance of the Interim Budget 2024 cannot be overstated, as it marks the final budget of the second term of the Modi government. According to a review report from the finance ministry, the Indian economy is anticipated to achieve a growth rate of nearly 7 percent in the upcoming financial year 2024-25, commencing this April. Notably, India’s economy demonstrated a growth of 7.2 percent in 2022-23 and 8.7 percent in 2021-22.
In the next three years, India is expected to become the third-largest economy in the world, with a GDP of USD 5 trillion, the Ministry stated.
Finance Minister Nirmala Sitharaman is poised to achieve a noteworthy milestone by delivering the sixth consecutive Budget, encompassing five annual Budgets and one interim Budget. This accomplishment parallels only that of former Prime Minister Morarji Desai in the annals of Indian financial history. Mr. Desai, as Finance Minister, had presented five annual Budgets and one interim Budget between 1959-1964.
The expectation for the interim budget presentation is palpable across the entire nation, given its substantial impact on the upcoming Lok Sabha elections. Every industry has articulated its wishlist to the Finance Ministry, and the revelation of whether these aspirations have been taken into account or not will only transpire after the budget is unveiled.
Also read: Interim Budget 2024: Income Tax Benefits, Support to Women Entrepreneurs
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