New Delhi: Union Finance Minister Nirmala Sitharaman met with President Droupadi Murmu before presenting the Union Budget 2024 in Parliament, adhering to tradition. Sitharaman and her team apprised the President of the budget details.
President Murmu extended good wishes to Sitharaman by offering her ‘Curd and Sugar.’ Subsequently, the Finance Minister participated in a Cabinet meeting before proceeding to Parliament. The documents for the 2024 Union Budget and Jammu & Kashmir’s budget were also delivered to Parliament.
Sitharaman, poised to present her seventh consecutive budget, breaking Morarji Desai’s record, left the North Block carrying the budget in digital format. Flanked by her team, she was photographed with the red ‘Bahi Khatha’ digital tablet before she departed for Rashtrapati Bhavan.
The budget is anticipated to concentrate on income tax reforms and enhancing the business climate in India. The Minister of State for Finance, Pankaj Chaudhary, mentioned that the budget would be in line with the principle ‘Sabka Saath Sabka Vikas’.
The budget session of Parliament commenced on July 22 and is scheduled to end on August 12. The economic survey forecasted a 7% medium-term growth rate for India, underscoring the necessity of a collaborative agreement between the Union Government, State Governments, and the private sector.
The survey underscored global phenomena such as geo-economic fragmentation, self-reliance, climate change, and technological progress as opportunities and challenges. It advocated for a concentration on grassroots-level reforms to maintain inclusive growth.
During the ‘Amrit Kaal,’ the survey pinpointed six pivotal growth sectors: private investment, MSME development, agriculture, green finance, bridging the education-employment divide, and enhancing state capabilities.
