New Delhi: Union Finance Minister Nirmala Sitharaman is set to present the first Budget of the third consecutive NDA government under the leadership of Prime Minister Narendra Modi shortly. This budget for 2024 will be the primary economic document of the Modi 3.0 government, outlining the roadmap to transform India into a ‘Developed Bharat’ by 2047. It is believed that the budget will be influenced by the setbacks in the Lok Sabha elections and the upcoming assembly elections this year. Announcements related to minimum support prices for agricultural produce, fertilizer subsidies, and tax concessions are anticipated.
Alongside income tax relief, the government is expected to focus on employment opportunities and capital expenditure. New schemes for women’s safety and empowerment are likely to be announced, with special considerations for the youth. There might be increases in pension amounts and additional funding for rural employment schemes. More announcements for small and medium enterprises are also expected. There may also be more announcements for small and medium enterprises. Another thing that everyone is looking forward to is whether there will be announcements for the health sector including AIIMS. The railway budget is expected to include plans for station development, more trains, and improved train safety. Another major expectation is the provision of tax reliefs. Additionally, there is significant curiosity about whether states like Bihar and Andhra Pradesh will be granted special status.
This will be Finance Minister Nirmala Sitharaman’s seventh consecutive budget presentation. There is significant anticipation surrounding this budget. Meanwhile, the Congress has already criticized the budget, alleging that it has been prepared without considering the common and poor people of the country. The central government had previously presented an interim budget in February in the context of the Lok Sabha elections. Kerala, too, is watching the central budget with great expectations.
