Live Updates: Nirmala Sitharaman to Present Interim Budget
In a significant move, Union Finance Minister Nirmala Sitharaman is slated to present the Modi 2.0 government’s last budget ahead of the upcoming general elections this Thursday from New Delhi. Amid high expectations, this interim budget is anticipated to introduce a combination of measures aimed at bolstering the economy, with a keen focus on crucial segments such as farmers and women, which are deemed vital for garnering voters’ support.
Following the Bharatiya Janata Party’s (BJP) triumphant wins in Chhattisgarh, Madhya Pradesh, and Rajasthan, the urgency for populist measures appears to have diminished. Consequently, Sitharaman is likely to emphasize fiscal prudence, while potentially offering incentives to pivotal sectors such as agriculture, which not only play a vital role in the economy’s backbone but also are essential for job creation and stimulating consumption.
The presentation of the budget will essentially be a vote on account, widely referred to as the interim Budget. This terminology is used because it seeks the Parliament’s approval for grants in advance to cover the central government’s essential expenditures for the initial four months of the new fiscal year, commencing in April. Following the general elections scheduled for April/May, the newly elected government will have the responsibility of presenting the full Budget, which is expected to take place in July.
Stay tuned as we bring you live updates on this critical financial juncture, which is not only a precursor to the general elections but also a reflection of the government’s commitment to addressing the needs of its populace through prudent economic management and focused incentives.
