Delhi, New York: Union Minister Kiren Rijiju declared on Saturday that the Parliament session will start one day early and that the whole budget for the year 2024–25 will be presented on July 23. The Minister of Parliamentary Affairs announced that the budget session will start on July 22 and last until August 12.
Hon’ble President of India, on the recommendation of Government of India, has approved the proposal for summoning of both the Houses of Parliament for the Budget Session, 2024 from 22nd July, 2024 to 12 August, 2024 (Subject to exigencies of Parliamentary Business). Union Budget,…
— Kiren Rijiju (@KirenRijiju) July 6, 2024
Historic Budget Presentation
In light of the impending Lok Sabha elections, Finance Minister Nirmala Sitharaman presented the interim budget in February. She will be the first finance minister in the history of India to submit a budget for the seventh time in a row, breaking the previous record held by Morarji Desai. This budget will be the first to be given in Prime Minister Narendra Modi’s third term and the first in which the BJP is not the sole party in power.
President Droupadi Murmu’s statement in her joint address that the budget will see “many historic steps” and quicken the pace of changes raised already high expectations even higher.
Budget Plans
This budget will serve as a practical statement of the administration’s expansive plans and forward-thinking outlook. This budget will also include several historic initiatives in addition to significant economic and social considerations. “The pace of reforms will be further accelerated in tune with the aspirations of people of India for rapid development,” she had stated on June 27. One of the major aspirations for the middle class and salaried class is a reform in the income tax system that would provide them more disposable money.
Opposition’s Strong Presence
Stormy scenes characterized the first special session of the 18th Lok Sabha, as the emboldened opposition sought to assert itself under the leadership of Rahul Gandhi, the newly appointed Leader of the Opposition in the House. The INDIA coalition secured 232 seats in the general elections, limiting the BJP to 240 seats. The results were announced on June 4. With 293 MPs, however, the NDA enjoys a strong majority.
The issues surrounding the NEET test leak, Manipur, the emergency, the Agnipath plan, and the purported constitutional weakening by the governing party dominated the special session and are expected to continue to do so during the budget session.
