The Union Budget for the fiscal year 2024-25 will be presented to the Lok Sabha on July 23. Conducted from July 22 to August 12, Parliament's budget session will consider the budget. Announcing the schedule, Union Minister Kiren Rijiju confirmed that the President of India had authorized the convening of both Houses for the Budget Session based on government recommendations.
Union Finance Minister Nirmala Sitharaman will unveil the full budget for Prime Minister Modi's NDA administration. The previous interim budget was submitted in February in anticipation of the Lok Sabha elections.
There is anticipation and speculation surrounding the Union Budget 2024, with expectations that the Finance Minister may propose taxpayer benefits under the Modi 3.0 government. Many experts predict an overdue hike in the standard deduction limit.
According to Reuters, citing government sources, the administration aims to boost rural housing subsidies in the Union Budget by up to 50% compared to last year, surpassing US$6.5 billion.
