India Union Budget 2024-25: A Comprehensive Guide

This document is last updated at July 28, 2024, 13:00 (local time).

Understanding the Union Budget

The Union Budget is an annual financial document presented by the Government of India. It outlines the government's estimated revenues and expenditures for the upcoming fiscal year, which runs from April 1st to March 31st of the following year.

What is the Union Budget?

The Union Budget is a significant document that plays a crucial role in allocating resources, prioritizing public spending, and shaping the country's economic policies. It provides a detailed plan for the government's expenditure on various sectors and the sources of revenue, including taxes and non-tax revenues.

Who Publishes the Union Budget?

Typically, the Union Budget is presented by the Finance Minister of India. This year, Finance Minister Nirmala Sitharaman is expected to present the Budget, continuing her record as the Finance Minister who has delivered the most consecutive Budgets in India's history.

Union Budget 2024-25: Date and Key Aspects

According to reliable sources, the Union Budget 2024-25 is scheduled to be presented on July 23, 2024. This budget date is crucial as it sets the financial roadmap for the country and reflects the government's priorities and economic strategy for the fiscal year.

Union Budget 2024-25 Highlights in PDF

Download Union Budget 2024-25 PDF

Key Aspects of Union Budget 2024-25

Economic Growth: The 2024 budget date is expected to focus on strategies to stimulate economic growth, including investments in infrastructure and support for key industries.
Fiscal Consolidation: Measures to reduce the fiscal deficit and improve the efficiency of public spending are likely to be highlighted.
Infrastructure Development: Investments in infrastructure projects such as roads, railways, and smart cities will be a key focus to enhance connectivity and economic activity.
Social Welfare Programs: The Budget will outline plans for social welfare initiatives aimed at improving healthcare, education, and support for vulnerable populations.
Tax Reforms: Expected reforms include adjustments to tax rates, new tax incentives, and measures to improve tax compliance and administration.

Detailed Analysis of Key Aspects

Economic Growth

The Budget is anticipated to include policies aimed at boosting economic growth through various initiatives. This might involve increased spending on infrastructure projects, tax incentives for businesses, and support for emerging industries.

Fiscal Consolidation

Efforts to achieve fiscal consolidation are expected to be a significant part of the Budget. This includes reducing the fiscal deficit through better tax revenue collection and more efficient public spending.

Infrastructure Development

Infrastructure development is crucial for economic growth. The Budget is likely to allocate funds for major projects such as the expansion of highways, modernization of railway networks, and development of smart cities.

Social Welfare Programs

Social welfare programs are essential for improving the quality of life for the less privileged. The Budget will probably focus on increasing funding for healthcare, education, and social security schemes.

Tax Reforms

Tax reforms are expected to simplify the tax structure and enhance compliance. This could include changes to direct and indirect taxes, introduction of new incentives for businesses, and measures to curb tax evasion.

Stay Updated with Reliable Sources

Stay informed about the latest updates and developments on the Union Budget through:

Business Standard: Union Budget 2024-25