This Interim Budget, often referred to as a ‘vote on account,’ assumes particular significance as it sets the stage for economic policies in the run-up to the elections, where Prime Minister Narendra Modi seeks re-election for a historic third consecutive term.
The final full budget will be announced by the next government.
Sitharaman had earlier said there won’t be ‘spectacular’ announcements in the Interim Budget but how can expectations remain low for the most populous country where citizens keep fingers crossed for relief measures in the budget ranging from housing sops to favourable income tax rates.
Budget 2024- Date and Time
Finance Minister Sitharaman will present the budget on February 1, 2024, at 11 am in the new Parliament building.
Budget 2024: Where to watch live stream?
On Thursday, Sitharaman’s address will be live streamed on the official Parliamentary channel Sansad TV. However, the live streaming can also be witnessed on The Economic Times page.Sansad TV Youtube Link: YouTube.com/@SansadTV
The Economic Times Link: https://economictimes.indiatimes.comOn television, the Interim Budget presentation can be watched on Doordarshan and Sansad TV channels.
The Economic Times will also be providing all the latest updates, analyses, and live stream of the Budget presentation. Stay tuned to https://economictimes.indiatimes.com/budget for all your needs.Budget 2024: How to access official budget document?
Post-presentation, the official document will be available online on the Union Budget mobile app. It can also be downloaded from Google Play (for Android users) and the App Store (for iOS users).
Alternatively, the official document can be accessed on www.indiabudget.gov.in.
The Bharat Moment
The Interim Budget 2024, which may or may not act as a poll pitch, will for sure be another test for the Bharatiya Janata Party (BJP). India has to juggle between giving handouts or mega sops and sticking to a fiscal consolidation roadmap while looking to drive investments particularly at a time when it is taking the Dragon, or China, head on in different aspects ranging from being a viable alternative for the world’s factory floor to faster growth dynamics.
Thus, all eyes will be on what guidance Sitharaman gives in the budget for the economy’s road ahead to be a juggernaut, while it also seeks to keep the inflation monster calm that not only is a threat for the Indian lower-and-middle class but also makes Reserve Bank of India’s rate choices difficult and inflates input costs for corporates.
However, two of the govt’s prime considerations, inflation and GDP growth, are at present in India’s favour. While inflation levels recently have been in the RBI’s mandated 2-to-6 percent zone, the latest GDP print has surprised on the upside.
The swift growth of the economy has resulted in a substantial increase in tax revenue for the government, enabling it to achieve its objectives of narrowing the budget deficit. As Sitharaman prepares to present her sixth budget speech on February 1, she has the opportunity to sustain infrastructure investments and implement specific measures to bolster Modi’s key sectors for the upcoming elections, including support for farmers, women, the underprivileged, and the youth.
Catch all live updates of the Budget on The Economic Times. The EconomicTimes.com is the go-to website when it comes to business, markets and financial news not just in India, but worldwide.
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