According to Sitharaman, the Narendra Modi administration overcome these obstacles and implemented structural changes. Ahead of the 2024 Lok Sabha elections, Union Finance Minister Nirmala Sitharaman unveiled the interim budget on Thursday. This is the final budget she has presented during the second term of the Modi administration and her sixth as finance minister. In keeping with tradition, Sitharaman met President Droupadi Murmu on Thursday before releasing the 2024–25 pre-election budget. Before going to Parliament, she had a meeting with the President at Rashtrapati Bhawan.
Before presenting the Union Budget at Rashtrapati Bhawan, Union Minister of Finance Corporate Affairs Smt. Nirmala Sitharaman, Minister of State Dr. Bhagwat Kishanrao Karad, Shri Pankaj Chaudhary, and the senior officials of the Ministry of Finance paid a visit to President Droupadi Murmu, according to a post on the website at Rashtrapati Bhawan. The finance minister received wishes from President Murmu. The union cabinet minister then met in order to approve the budget.
The budget for the fiscal year 2024–25 was approved by the Cabinet, led by Prime Minister Narendra Modi, before it was formally presented in Parliament. In an election year, Sitharaman must balance meeting public expectations of tax cuts with exhibiting fiscal responsibility in order to keep India’s economy the fastest-growing in the world.
In an election year, Sitharaman must balance meeting public expectations of tax cuts with exhibiting fiscal responsibility in order to keep India’s economy the fastest-growing in the world. According to official estimates, the economy will grow by 7.3 percent during the current fiscal year.
The main points of the interim budget for 2024 are as follows:
The Indian economy is changing. India has changed significantly over the last ten years.
Overcoming obstacles: India faced enormous obstacles in 2014. Nevertheless, the government overcome these challenges and started implementing structural changes.
Pro-people reforms: A focus on creating an environment that encourages entrepreneurship and the creation of jobs was made. Massive numbers of people were impacted by development initiatives, which gave them a sense of hope and purpose.
Reinforcing development philosophy: During the second term, the government put more emphasis on inclusion in the social and geographic spheres as part of its development philosophy.
In response to COVID-19, India overcame the challenges prevented by the COVID-19 pandemic by working together as a nation, paving the way for a transformative era and moving toward self-reliance.
Optimistic aspirations: The youth of India have high hopes for the future while also showing pride in the here and now. Inclusive development refers to development programs that, in contrast to earlier approaches, took a humane approach and focused on providing basic services to households and individuals, such as access to housing, water, electricity, cooking gas, and financial inclusion.
Food security: By giving free rations to 80 crore people, worries about food security were allayed.
Support for farmers: As the backbone of our country, farmers have received periodic increases in the Minimum Support Price for agriculture producers.
Increase rural income: The availability of essentials has made a major contribution to the notable rise in real income in rural areas.
Development that is widespread, inclusive, and encompasses all social classes is a goal shared by the government and all castes and strata. Vision for 2047: With the goal of achieving India’s development by that year, we are focusing on comprehensive advancement that touches every sphere of society.
