Finance Minister Nirmala Sitharaman will present the first Union Budget of Prime Minister Narendra Modi’s third term on July 23, 2024, as approved by President Droupadi Murmu. The Budget session is scheduled from July 22 until August 12.
The budget presentation will commence at 11 am in the Lok Sabha.
The Union budget will be broadcast on the official channels of the Parliament, Doordarshan, and Sansad TV. It will also be streamed on the government’s official YouTube channels.
Digital access to the budget documents will be provided on the Union government’s official web portal, www.indiabudget.gov.in. The budget documents will be available in both Hindi and English. The web portal will consist of financial statements, finance bills, and requests for grants as specified in the Constitution.
Under Article 112 of the Constitution, a statement of estimated receipts and expenditure of the government has to be presented before the Parliament every financial year. The Budget is usually presented at the end of a fiscal year on the first day of February. An Interim Budget is presented by a government in the last year before general elections.
The government presented the Interim Budget 2024-25 in the Parliament in February, aiming for ‘Viksit Bharat’ by 2047, with all-round, all-pervasive, and all-inclusive development goals. The Interim Budget saw the Finance Minister lower the FY25 fiscal deficit target to 5.1% of the GDP. The government announced no changes in the tax slabs in both the old and new regimes.
The President of India, Droupadi Murmu, approved the presentation of the full budget on July 6.
“Hon’ble President of India, on the recommendation of Government of India, has approved the proposal for summoning of both the Houses of Parliament for the Budget Session, 2024 from 22nd July, 2024 to 12 August, 2024 (Subject to exigencies of Parliamentary Business). Union Budget, 2024-25 will be presented in Lok Sabha on 23 July, 2024,” Minister of Parliamentary Affairs, Kiren Rijiju, posted on X.
This will be the first full session of Parliament after the oath-taking ceremony of newly elected members of the 18th Lok Sabha, which was held from June 24 to July 2 after the general election results.
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