Budget 2024 date: Nirmala Sitharaman to present Budget 2024-25 on July 23, session begins on July 22

Finance Minister Nirmala Sitharaman will present the much-awaited Union Budget on July 23. President Draupadi Murmu on Saturday approved a proposal to convene both houses of Parliament between July 22 and August 12. This will be the first budget presented by the Narendra Modi-led government since he was re-elected for a record third term earlier this year.

“President Draupadi Murmu (on the recommendation of the government) has approved the proposal for convening both Houses of Parliament from July 22 to August 12. The Union Budget 2024-2025 will be presented in the Lok Sabha on July 23,” read an update shared by Union Minister Kiren Rijiju.

The President had earlier indicated that the upcoming Budget would be marked by several “historic” steps and would entail “major social and economic decisions”. Sitharaman had presented an interim budget in February, ahead of the Lok Sabha elections.

This will be the first full session of Parliament after the new members took oath in the first session of the 18th Lok Sabha held from June 24 to July 2 following the election results.

The BJP-led National Democratic Alliance returned to power for a third consecutive term in June. The inaugural session of Parliament, however, got off to a rocky start last week with the opposition and the government clashing on a number of issues, including the NEET-UG exam dispute. The upcoming Budget gains additional significance in light of statements made by PM Modi about “writing new chapters of bold decisions” during his third term.

The interim budget presented in February saw Sitharaman reduce the FY25 fiscal deficit target to 5.1% of GDP. The government did not announce any changes in tax brackets under either the old or new regime.

The Finance Minister has already met economists, finance and capital market experts and industry bodies for pre-Budget consultations. Sitharaman also chaired a meeting with finance ministers of different states and union territories in late June to receive suggestions for the upcoming Union Budget.

(With contributions from agencies)

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