Finance Minister Nirmala Sitharaman.
Credit: PTI Photo
Finance Minister Nirmala Sitharaman is all set to present the Union Budget 2024 today in the Lok Sabha.
Union Budget 2024—an interim Budget—will be the sixth budget of the Finance Minister. A detailed Budget will be presented by the government that comes to power after the 2024 Lok Sabha elections.
Date and Time:
The 2024-25 Union Budget will be presented on February 1 from 11 am in the Lok Sabha.
Where to watch:
To watch the live streaming to the budget speech, one can tune in to Sansad TV (Parliament channel of India) or DD News.
The Press Information Bureau (PIB) will also be broadcasting the budget speech online on its YouTube channel and website.
X (formerly known as Twitter) platforms can also be folllowed for live budget speech or updates.
Follow our detailed coverage of the Union Budget 2024 right here.
Budget 2024 Documents:
All the necessary Budget documents can be accessed on the Union Budget Mobile App. The documents will be accessible just after Nirmala Sitharaman concludes the Budget speech.
In the run-up to the Union Budget 2024, there has been plentiful speculation on what to expect of the outgoing Modi government.
No tax rebates expected - Any increase in tax rebate under the new direct tax regime is unlikely. The hope that the personal income tax rebate may be increased from the current Rs 7 lakh to Rs 7.5 lakh, was dashed.
Increase in direct tax growth rate - The Budget, anticipating 'buoyancy' in the economy in the next one year, will likely aim for a 10.5 per cent growth rate in direct tax, a senior government official told Moneycontrol.
Railways - Budget 2024 will most likely focus on two concerns — allocation of funds for safety measures and procuring new trains to address the escalating demand in passenger travel and augment existing infrastructure to improve on-time arrival performance.
Women farmers - The agriculture sector is expected to continue to feel the love in this budget too. Over the last 10 years, the budget allocation to the sector rose fivefold, from Rs 22,652 crore in FY15 to Rs 1.15 lakh crore in FY24. Most experts agree that this trend will continue in Budget 2024.
India's export targets - Union Commerce and Industry Minister Piyush Goyal on January 6 had expressed optimism that the country will meet its ambitious $2-trillion export target by 2030. This despite the fact that India’s overall merchandise exports had declined by 5.5 per cent year-on-year.
Capex boost - The forthcoming Interim Budget 2024-25 is likely to increase the outlay for capital expenditure. But by how much, is the question. Estimates vary from 10 per cent to 25 per cent.
The budget may focus on allocations to create capital investment projects covering health and power, in addition to roads and railways, of course.