Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget 2024-25 after the Cabinet gave its approval. In her initial comments, Sitharaman said India’s economic growth will be a shining exception.
“We are determined all Indians, regardless of religion and age, achieve life goals and aspirations,” Sitharaman said.
The Finance Minister presented the first Union Budget of the Modi 3.0 government and her seventh consecutive one during the Monsoon Session of Parliament. The Economic Survey 2023-24 was tabled yesterday in Parliament.
The Union Cabinet, headed by Prime Minister Narendra Modi, met in Parliament today to approve the Union Budget ahead of its presentation by the Finance Minister. This marks Sitharaman’s seventh consecutive budget, surpassing the late Morarji Desai’s record of six consecutive budgets. The budget is expected to focus on changes to the income tax structure and improving the ease of doing business in India.
READ MORE: Finance Minister Nirmala Sitharaman Consults President Droupadi Murmu Ahead of Budget Presentation
Addressing the media, Minister of State for Finance Pankaj Chaudhary said that the first Union Budget of the third Modi government would be based on Prime Minister Modi’s mantra of “Sabka Saath Sabka Vikas.” Union Minister Pralhad Joshi said that this budget would accelerate the country’s economic growth.
“The economic growth that happened under the leadership of Prime Minister Narendra Modi, this budget and this Budget will further accelerate it. The budget presented today by Nirmala ji will also help our country, which is the fastest-growing economy,” Pralhad Joshi said while speaking to the media on the Parliament premises on Tuesday.
The budget session of Parliament began on July 22 and, according to schedule, will end on August 12. On Monday, the Economic Survey presented in Parliament by Finance Minister Sitharaman emphasized the resilience of the Indian economy and its stable post-Covid recovery.
The Survey underscored the government’s commitment to “Nari Shakti” through various legislative measures and provisions aimed at boosting women’s participation in diverse professions.
According to the Economic Survey, the budget for women’s welfare and empowerment schemes has surged by 218.8 percent, growing from Rs 97,134 crore (BE) in FY14 to Rs 3.10 lakh crore in FY25.
Additionally, the Gender Budget Statement (GBS) has seen a 38.7 percent increase compared to FY24 BE, with its share in the total Union Budget rising to 6.5 percent in FY25, the highest since GBS was introduced in FY06.
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