Budget 2024: Finance Minister Nirmala Sitharaman reached Parliament with ‘red’ tablet, will present the budget in some time
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Finance Minister Nirmala Sitharaman reached Parliament carrying the budget tablet to present the country’s interim budget. Nirmala Sitharaman will present the final budget or interim budget (for the financial year 2024-25) in the second term of the Narendra Modi government before the Lok Sabha elections. Nirmala Sitharaman is expected to highlight the 10-year economic performance of the Modi government 2.0 but hold off on costly schemes to reduce the fiscal deficit.
अंThe interim Budget 2024 could serve as an economic manifesto for the Bharatiya Janata Party by laying out Modi’s vision for the economy for the next five years. Modi is eyeing victory for the third time in the Lok Sabha elections to be held in May. However, the interim budget presents an opportunity for posturing just weeks before the Model Code of Conduct comes into force ahead of the general elections. Nirmala Sitharaman’s sixth consecutive budget could present a political document with a snapshot of the Modi government’s victories in the last 10 years and give a hint as to how she wants to take the country forward.
Former Finance Secretary Subhash Chandra Garg believed that the interim budget presented before the Lok Sabha elections is an opportunity for the party in power to attract voters through freebies and populist schemes. He said, “We have seen this happening in the interim budget presented before the general elections in 2019.” Workers in the area were targeted. Altogether these are approximately 75 crore voters. There is a possibility that the government will take special care of these voters this time too.
It is noteworthy that in 2019, Commerce and Industry Minister Piyush Goyal, who was holding the additional responsibility of Finance Minister, had exempted taxable income of up to Rs 5 lakh from income tax to attract the middle class. It was also announced to provide Rs 6,000 in cash to 12 crore farmers under the Prime Minister Kisan Samman Nidhi. Apart from this, government contribution to retirement pension of 50 crore workers associated with the unorganized sector (PM Shram Yogi Maandhan -SYM) was also proposed. In view of this, it is being expressed in various areas that such announcements can be made in this interim budget also.
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