Interim Budget 2024: Finance Minister Nirmala Sitharaman is scheduled to present the Interim Budget 2024 in Parliament on February 1 at 11 am. The Interim Budget unveils crucial decisions made by the current government before the Lok Sabha polls in the Budget session.
It serves as a precursor to the more detailed Budget presented by the newly elected government following the Lok Sabha elections. All attention is focused on the upcoming Interim Budget, anticipating the key announcements from the outgoing government.
Interim Budget 2024
Union Finance Minister Nirmala Sitharaman is set to present the Interim Budget 2024 in Parliament on February 1. Sitharaman has indicated that this budget won’t include major announcements. It’s important to note that the Economic Survey was not presented today, as this is not a complete budget.
Given that 2024 is an election year for the Lok Sabha, this budget serves as a vote-on-account. The comprehensive budget for 2024-25 is expected to be introduced after the elections, likely in July when the new government is formed around June.
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Budget 2024 Date and Time
The unveiling of the Union Budget 2024 is scheduled for February 1st, commencing at 11 am.
Budget 2024 When and Where to Watch?
Nirmala Sitharaman’s budget presentation will be broadcast in real-time on India Today and Aaj Tak TV channels, along with being available on Business Today’s YouTube channel. Stay tuned for the most recent information by checking the live blogs on Business Today, India Today, and Aaj Tak.
Additionally, you can catch Sitharaman’s speech on Doordarshan (DD) News, and it will also be accessible on the Press Information Bureau’s (PIB) YouTube channel and website. Stay updated with the latest budget details through these various platforms.
How Many Budgets are Presented by Nirmala Sitharaman?
This marks Nirmala Sitharaman’s sixth consecutive budget, equalling Dr. Manmohan Singh’s record. As India’s first full-time female finance minister, Sitharaman has delivered five complete budgets since taking office in July 2019. Her presentation of the Interim Budget on Thursday will surpass the achievements of her predecessors, Arun Jaitley, and Yashwant Sinha, who both presented five consecutive budgets.
Budget 2024 Expectations
In this budget, people are hoping for tax reductions, higher income-tax rebates, changes in the capital gain tax system, more benefits under the new tax regime, and the removal of GST from insurance policies. Meanwhile, the recruitment industry wants budgetary support for workforce development and skill enhancement, along with a focus on regulatory frameworks for the gig economy and contingent workforce.
A forward-thinking budget should address gig economy regulations, promoting a balanced and flexible approach for both employers and workers. Collaboration between recruitment platforms and technology firms is crucial for innovation and staying ahead in the industry.
This environment can sustain growth and make the gig economy a driving force in shaping the future of work, according to Sekhar Garisa, CEO of Foundit.
In addition to the gig economy, the industry is anticipating targeted incentives in select sectors to boost investment, job creation, and industrial expansion. Rohet Ramesh, Director at Layam Group, emphasizes the need for increased allocations for skill development programs, incentives for job creation in the informal sector, and promotion of equitable working conditions.
Women entrepreneurs are looking for greater budgetary support to enhance their access to capital and increase equity-based funding.
Aditi Balbir, CEO of EcoRatings, stresses the importance of allocating more capital to diversity-focused funds, recognizing the crucial role women entrepreneurs play in fostering a more equitable business landscape in India. The focus should be on risk capital rather than relying solely on loan-based strategies for a more inclusive and accessible financial ecosystem.
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Interim Budget 2024 FAQs
Q.1. When is the Interim Budget 2024 scheduled?
Ans. The Interim Budget will be presented on February 1 at 11 am in Parliament.
Q.2. Is this a complete budget or a vote-on-account?
Ans. It’s a vote-on-account serving as a precursor to the detailed budget post-Lok Sabha elections.
Q.3. Where can I watch Nirmala Sitharaman’s budget presentation?
Ans. Tune in to India Today, Aaj Tak, Business Today’s YouTube, DD News, or PIB’s YouTube channel and website.
Q.4. How many budgets has Nirmala Sitharaman presented?
Ans. This marks her sixth consecutive budget, equaling Dr. Manmohan Singh’s record.
Q.5. What are the expectations from Budget 2024?
Ans. Anticipate announcements on tax reductions, workforce development, gig economy regulations, and increased support for women entrepreneurs.
