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Preparation for the upcoming Union Budget 2024-25 commenced in Delhi . Finance Minister Nirmala Sitharaman has directed officials to initiate the budget preparation process, emphasizing the need for meticulous planning and comprehensive analysis.
This early start aims to ensure a well-structured budget that effectively addresses the country’s economic priorities and challenges. The collaborative efforts of the ministry’s team are expected to contribute to a robust and strategic financial plan for the upcoming fiscal year.
According to sources as told to PTI , the Union Budget for 2024-25 is likely to be tabled in Parliament by the third week of July.
Earlier, on February 1, Finance Minister Nirmala Sitharaman presented the interim budget for 2024-2025 in Parliament due to the election year.
The Interim Budget is presented by a government that is either in a transition period or in its last year in office ahead of general elections. The purpose of the interim budget is to ensure the continuity of government expenditure and essential services until the new government can present a full-fledged budget after taking office.
Now, after the election results, Finance Minister Nirmala Sitharaman will present her seventh budget in a row. It will also be the full budget for the year 2024-25.
In the February interim budget, the government focused on economic policies that foster growth, facilitate inclusive development, improve productivity, and create opportunities for various sections, while noting that it will pay utmost attention to the eastern region, including the states of Bihar, Jharkhand, Chhattisgarh, Odisha, and West Bengal, to make them growth engines as part of the goal to make India a developed country by 2047.
