Union Budget 2024: India's Finance Minister to Present Amidst Global Economic Turbulence
Budget Presentation Date and Time
The Union Budget for the fiscal year 2024-25 will be presented to the Lok Sabha on July 23 at 11 am by Finance Minister Nirmala Sitharaman.
Economic Context and Challenges
The upcoming Union Budget comes at a time when the global economy is facing significant uncertainties, including geopolitical tensions, supply chain disruptions, and inflation. India's economy is also grappling with rising prices, a widening trade deficit, and concerns over fiscal sustainability.
Budgetary Expectations
The focus of Union Budget 2024-25 is likely to be on:
- Stimulating economic growth through infrastructure spending
- Providing tax relief to taxpayers across all segments
- Addressing fiscal consolidation concerns
- Promoting job creation and entrepreneurship
Key Announcements and Allocations
Some key announcements and allocations expected in the budget include:
- Increased capital expenditure outlay
- Conversion of normal rail bogies to high-speed bogies
- Changes in the income tax structure
- Measures to boost affordable housing
Impact on Various Sectors
The Union Budget 2024-25 is expected to have a significant impact on various sectors, including:
- Infrastructure
- Manufacturing
- Real estate
- Financial services
Conclusion
The Union Budget 2024-25 is eagerly anticipated as it will provide a roadmap for India's economic recovery and growth. Finance Minister Sitharaman faces the challenge of balancing fiscal discipline with the need to support economic growth in an uncertain global environment.
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