Parliament Budget Session Day 3: PM Modi holds meeting with top ministers to Budget strategies

Parliament Budget Session Day 3: Today marks the third day of the Budget session of the Parliament and Prime Minister Narendra Modi held a meeting with the top minister to discuss the government's strategy in the Parliament.

The meeting has been attended by top minister such as Union Defence Minister Rajnath Singh, Home Minister Amit Shah, Parliamentary Affairs Minister Pralhad Joshi, Union Minister Anurag Singh Thakur, Union Transport Minister Nitin Gadkari, and Union Law Minister Arjun Ram Meghwal.

Meanwhile, Union Finance Minister Nirmala Sitharaman tabled the Interim Budget 2024-25 before the country heads for Lok Sabha polls. This was her be sixth Budget as the Finance Minister and last in the second term of the Modi government

Also Read: Budget 2024 FAQs: A quick and complete guide to understanding Budget 2024

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The new government will present a full budget for the fiscal year 2024-25 (Union Budget 2024) following the Lok Sabha elections.

Key Highlights from Interim Budget 

'Viksit' (developed) nation by 2047

In her Budget 2024 speech, Finance Minister Nirmala Sitharaman emphasised the government's commitment to transforming India into a 'Viksit' (developed) nation by 2047.

As she presented the last budget before the upcoming Lok Sabha polls, she highlighted the that foster growth, facilitate inclusive development, improve productivity, and create opportunities for various sections while noting that it will pay utmost attention to the eastern region including states of Bihar, Jharkhand, Chhattisgarh, Odisha, and West Bengal to make them growth engines as part of goal to make India a developed country by 2047.

No change in tax rates

Union Finance Minister Nirmala Sitharaman declared on Thursday that there would be no alterations to the income tax rates. She said, "I propose to retain the same tax rates for direct and indirect taxes, including import duties."

Golden years ahead

Sitharaman envisions the next five years as a period of unprecedented development and golden moments.
Corridor programmes: Three major economic railway corridor programmes to be implemented: 
(1) Energy, mineral and cement corridors
(2) Port connectivity corridors
(3) High traffic density corridors

Housing policy for middle class 

Government to launch a scheme to help deserving sections of the middle class “living in rented houses, or slums, or chawls and unauthorized colonies” to buy or build their own houses

Also Read: Budget 2024 FAQs: A quick and complete guide to understanding Budget 2024

Fiscal deficit targets

FY24 fiscal deficit expected at 5.8% of GDP, with a target of 5.1% in FY25 and an aim to reduce it to 4.5% by FY26.

Empowering women

Self-help groups empowered 1 crore women to become "Lakhpati didis," as highlighted in Budget 2024.

With this Budget Presentation, Sitharaman equalled the record set by former Prime Minister Morarji Desai, who as finance minister, presented five annual budgets and one interim budget between 1959 and 1964.

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