National Desk, 21st July: The highly anticipated full budget for the fiscal year 2024-25, marking the first budget under the Modi 3.0 government, is set to be unveiled in Parliament. All eyes are on Finance Minister Nirmala Sitharaman as she prepares to announce major fiscal policies and the government’s strategic direction for the economy.
This budget presentation is poised to be a historic moment for Sitharaman. She will surpass the previous record held by former Prime Minister Morarji Desai, who presented five annual budgets and one interim budget during his tenure as finance minister from 1959 to 1964. Sitharaman’s upcoming budget speech will be her seventh, placing her ahead of notable predecessors such as Manmohan Singh, Arun Jaitley, P. Chidambaram, and Yashwant Sinha, each of whom presented five budgets.
The budget session of Parliament is scheduled to commence on July 22 and conclude on August 12. As the nation eagerly awaits the details of the upcoming budget, it is an opportune moment to reflect on the intricate process and sequence of events involved in budget preparation.
The budget formulation process involves several stages, including extensive consultations with various stakeholders, economic reviews, and final approval from the cabinet. It is a critical exercise that sets the tone for the country’s fiscal policy and economic trajectory for the coming year.
The 2024-25 budget is expected to address key issues such as economic recovery, job creation, and sustainable growth. Observers and analysts will be closely monitoring the announcements for insights into the government’s plans for sectors such as infrastructure, healthcare, education, and digital transformation.
As Finance Minister Sitharaman prepares to make her historic budget speech, the nation anticipates significant policy measures and strategic initiatives that will shape India’s economic future.
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