Interim Budget: India’s cabinet on Thursday approved the Interim Budget for fiscal year 2025, as the world’s largest democracy eyes the Modi 2.0 government’s latest financial document with hopes of measures to ease price pains. However, New Delhi is widely speculated to maintain its focus on fiscal prudence rather than populism ahead of Lok Sabha elections in the upcoming summer season.
Finance Minister Nirmala Sitharaman will present the interim budget today in the parliament. She is scheduled to begin the interim budget speech at 11:00 am
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Being an election year, this will be an Interim Budget, also known as an account vote. The final full budget will be announced by the next government.
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Prime Minister Narendra Modi yesterday, before the start of the budget session of the parliament, promised to present the full budget after returning to power for a third straight term.
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“We will follow the same tradition and present a full-fledged budget before you after a new government is formed,” he said, adding that Finance Minister Nirmala Sitharaman will present in her budget, to be presented on Thursday, measures to show. direction
Sitharaman as well as Modi said the four focus areas of the interim Budget will be – nari shakti (women empowerment), youth, farmer and the economically weaker section of the society.
Bharat Moment!
This interim budget, which may or may not work as a poll show, is sure to be another test for the Bharatiya Janata Party. India has to juggle between giving handouts or mega sops and adhering to a fiscal consolidation roadmap as it seeks to drive investments especially at a time when it is taking the Dragon, or China, in different guises, from being a viable alternative for the world. factory to faster growth dynamics.
All eyes will be on what guidance Sitharaman gives in the budget for the path of the economy forward to be lower, while it also seeks to calm the inflation monster, which is not only a threat to the Indian lower and middle class but also makes. Reserve Bank of India’s exchange rate options are difficult and inflate input costs for corporations.