All eyes are on Finance Minister Nirmala Sitharaman as she presents an interim budget today ahead of the Lok Sabha Elections 2024. This will be her sixth Budget as the Finance Minister and last in the second term of the Modi government.
Economists believe Sitharaman has room to sustain infrastructure spending and introduce targeted measures for key voter segments - farmers, women, poor and youth. But a spending bonanza looks unlikely.
In the run-up, Sitharaman indicated there won't be major announcements in this stop-gap budget. "It will likely focus on fiscal consolidation and policy priorities going forward," said Madhavi Arora, Emkay Global Financial Services economist.
With 7% growth projected next fiscal, additional stimulus may not be needed. The middle class hoping for tax relief to combat inflation could be disappointed as fiscal deficit reduction takes priority.
However, the government may top up existing welfare schemes to boost its electoral prospects. Farmer income support, subsidized food, gas cylinders, housing and credits for small businesses - all could see enhanced outlays and wider coverage.
Rahul Bajoria, Barclays chief India economist said, "We expect budgetary spending quality to improve, with focus on infrastructure, manufacturing incentives and credit growth."
As the PM Modi-led BJP government presents its final full budget before polls amid global uncertainties, it needs to balance populism and prudence.
Sitharaman has a tough task of maintaining spending momentum while exercising fiscal restraint. All eyes will be on her as she walks the tightrope between election punch and macro stability in challenging times.
Follow our live updates as the finance minister presents Budget 2024 and shapes the government's economic agenda on the cusp of elections.
Lok Sabha passes Finance Bill 2024
— ANI (@ANI) February 1, 2024
House adjourned to meet again at 1100 hours on 2nd February https://t.co/IMfsZ145U9
Interim Budget | "I propose to retain the same tax rates for direct and indirect taxes including import duties," says FM.#Budget2024 pic.twitter.com/EseKRQblWQ
— ANI (@ANI) February 1, 2024
Interim Budget | "I propose to retain the same tax rates for direct and indirect taxes including import duties," says FM.#Budget2024 pic.twitter.com/EseKRQblWQ
— ANI (@ANI) February 1, 2024
Union Finance Minister Nirmala Sitharaman says, "...The revised estimate of the fiscal deficit is 5.8% of GDP, improving on the budget estimate notwithstanding moderation in the nominal growth estimates."
#WATCH | Interim Budget 2024-25 | Union Finance Minister Nirmala Sitharaman says, "...The revised estimate of the fiscal deficit is 5.8% of GDP, improving on the budget estimate notwithstanding moderation in the nominal growth estimates." pic.twitter.com/MxehZWCPZA
— ANI (@ANI) February 1, 2024
"FDI is 'First Develop India'... FDI inflow during 2014 to 2023 was Rs 596 billion US dollars, marking a golden era. This was twice the FDI inflow between 2005 to 2014. For sustained FDI, we are negotiating bilateral investment treaties with foreign partners," said FM.
"FDI is 'First Develop India'... FDI inflow during 2014 to 2023 was Rs 596 billion US dollars, marking a golden era. This was twice the FDI inflow between 2005 to 2014. For sustained FDI, we are negotiating bilateral investment treaties with foreign partners," says FM. pic.twitter.com/mxwDSMSngs
— ANI (@ANI) February 1, 2024
Union Finance Minister Nirmala Sitharaman said, "Many growth and development-enabling reforms are needed in the state for realising the vision of Viksit Bharat. A provision of Rs 75,000 Crores as a 50-year interest-free loan is proposed this year to support those milestone-linked reforms by the state governments."
The outlay for infrastructure has been increased to Rs 11.11 lakh crores in FY25, says FM Sitharaman. pic.twitter.com/DKZkyDY3kS
— ANI (@ANI) February 1, 2024
For the youth, FM Sitharaman says, "For our tech-savvy youth, this will be a golden era. A corpus of Rs 1 lakh crore will be established with 50-year interest-free loan provided. It will be for long-term financing or re-financing with low or nil interest rates." pic.twitter.com/Yw9o7B3yoU
— ANI (@ANI) February 1, 2024
A new scheme will be launched for strengthening deep-tech technologies for defense purposes and expediting self-reliance
"A new scheme will be launched for strengthening deep-tech technologies for defence purposes and expediting self-reliance, says FM Sitharaman. pic.twitter.com/K9DTyOgBHM
— ANI (@ANI) February 1, 2024
Interim Budget 2024-25 | Union Finance Minister Nirmala Sitharaman says, "Despite the challenges due to COVID, implementation of PM Awas Yojana Rural continued and we are close to achieving the target of 3 crore houses. 2 crore more houses will be taken up in the next 5 years to… pic.twitter.com/pemnJAvrCy
— ANI (@ANI) February 1, 2024
FM Sitharaman announces, "The health cover under the Ayushman Bharat scheme will be extended to all ASHA and Anganwadi workers and helpers." pic.twitter.com/UDNmvoZxqz
— ANI (@ANI) February 1, 2024
FM Sitharaman says, "The government is equally focused on GDP - Governance, Development and Performance." pic.twitter.com/iynkhPCxT5
— ANI (@ANI) February 1, 2024
Female enrolment in higher education up by 28% in 10 years, in STEM courses, girls & women make 43% of enrolment, one of the highest in the world. All these steps are reflected in the increasing participation of women in the workforce. Making triple talaq illegal, reservation of 1/3 seats for women in Parliament and state assemblies, over 70 % houses under PM Awas Yojana to women have increased their dignity.
Interim Budget 2024-25 | Union Finance Minister Nirmala Sitharaman says, "The Skill India Mission has trained 1.4 crore youth, upskilled and re-skilled 54 lakh youth, and established 3000 new ITIs. A large number of institutional higher learning, namely 7 IITs, 16 IIITs, 7 IIMs,… pic.twitter.com/oEEBV5DGfC
— ANI (@ANI) February 1, 2024
"We need to focus on - Garib, Mahilayen, Yuva and Annadata; Their needs and aspirations are our highest priorities," says Finance Minister Nirmala Sitharaman in her interim Budget speech. pic.twitter.com/6HoDXsdx2R
— ANI (@ANI) February 1, 2024
"We need to focus on - Garib, Mahilayen, Yuva and Annadata; Their needs and aspirations are our highest priorities," says Finance Minister Nirmala Sitharaman in her interim Budget speech. pic.twitter.com/6HoDXsdx2R
— ANI (@ANI) February 1, 2024
"...Our young country has high aspirations, pride in its present and hope and confidence for a bright future. We expect that our govt based on its stupendous work will be blessed again by the people with a resounding mandate."
'Sabka Saath Sabka Vikaas was our focus,' she added.
Finance Minister Nirmala Sitharaman presents the country's interim Budget
— ANI (@ANI) February 1, 2024
"...Our young country has high aspirations, pride in its present and hope and confidence for a bright future. We expect that our govt based on its stupendous work will be blessed again by the people with a… pic.twitter.com/qx1NaLFXtW
Union Minister Nirmala Sitharaman presents the Union Interim Budget 2024-25 at the Parliament. pic.twitter.com/ooIT0ztsof
— ANI (@ANI) February 1, 2024
Keeping with tradition, Finance Minister Nirmala Sitharaman and her colleagues, Ministers of State Bhagwat Karad and Pankaj Chaudhary, made their first visit to President Droupadi Murmu at Rashtrapati Bhawan.
Over the past three years, a new tradition has been set, where the finance minister carries budget documents in electronic form in a bahi khata.
At 11 am, Union Finance Minister Sitharaman will table the interim budget as the Lok Sabha polls are due to be held this year.
Union Minister of Finance and Corporate Affairs Nirmala Sitharaman along with Ministers of State Dr Bhagwat Kishanrao Karad and Pankaj Chaudhary and senior officials of the Ministry of Finance called on President Droupadi Murmu at Rashtrapati Bhavan before presenting the Union… pic.twitter.com/o2UrUCRuaH
— ANI (@ANI) February 1, 2024
#WATCH | "Budget will be progressive and for the development of the country," says Union Minister Rao Inderjit Singh on interim Budget.#Budget2024 pic.twitter.com/Rr2DtKRx0n
— ANI (@ANI) February 1, 2024
#WATCH | "It is an important day," says Union Minister Arjun Ram Meghwal as the government is set to present interim Budget. pic.twitter.com/MAu2LW51T9
— ANI (@ANI) February 1, 2024
#WATCH | Interim Budget copies arrive in Parliament, Finance Minister Nirmala Sitharaman to present her sixth straight budget today pic.twitter.com/ZFKdzcx7kt
— ANI (@ANI) February 1, 2024
Union Finance Minister Nirmala Sitharaman on Thursday used her trademark 'bahi-khata', a tablet wrapped in a red-colored cloth with a golden-colored national emblem embossed on it as she came out of the Finance Ministry.
She donned a blue-colored sari and completed her look with a golden blouse. She and her finance ministry team also posed for a photograph.
#WATCH | Union Finance Minister Nirmala Sitharaman will present the interim budget today pic.twitter.com/irGtbAcPbP
— ANI (@ANI) February 1, 2024
#WATCH | Delhi | Ahead of the presentation of the Union Interim Budget today, KV Subramanian - Executive Director of the IMF and former Chief Economic Advisor to the Government of India says, "Global has still not completely recovered because inflation resulted due to spending… pic.twitter.com/thEIBWTveH
— ANI (@ANI) February 1, 2024
#WATCH | Delhi | Ahead of the presentation of the Union Interim Budget today, KV Subramanian - Executive Director of the IMF and former Chief Economic Advisor to the Government of India says, "Global has still not completely recovered because inflation resulted due to spending… pic.twitter.com/thEIBWTveH
— ANI (@ANI) February 1, 2024
#WATCH | Union Finance Minister Nirmala Sitharaman will present the interim budget today pic.twitter.com/irGtbAcPbP
— ANI (@ANI) February 1, 2024
#WATCH | Finance Minister Nirmala Sitharaman arrives at the Ministry of Finance as she is set to present the interim Budget today pic.twitter.com/46Ut7oHdzE
— ANI (@ANI) February 1, 2024
Copyright © 2025 Top Indian News
