Finance Minister Nirmala Sitharaman is set to present the Interim Budget 2024-25 at Parliament on Thursday, February 1, a day after the commencement of the Budget Session.
This budget is interim in nature and the comprehensive budget for the financial year 2024-25 will be introduced only after the formation of the new government following the general elections.
The interim budget will provide estimates of the government’s expenditure, revenue, fiscal deficit, financial performance, and projections for the upcoming months.
Ahead of the Interim Budget, President Droupadi Murmu highlighted that India has maintained its position as the fastest-growing major economy, saying, “The year 2023 was a historic year for India when it grew the fastest among major economies despite the global crisis. India grew about 7.5 per cent for two consecutive quarters.”
Expectations include measures to enhance the attractiveness of the new income tax regime. Anticipation is also high for significant announcements in the EV, real estate, cryptocurrency, and renewable energy sectors.
