This time, the nature of the Union Budget is going to be 'interim' as the government is slated to face the Lok Sabha elections within a few months while the final budget will be presented in July by the incoming government.
Union Finance Minister Nirmala Sitharaman is all set to present the annual Union Budget for the financial year of 2024-25 today, February 1. This time, the nature of the budget is going to be 'interim' as the government is slated to face the Lok Sabha elections within a few months while the final budget will be presented in July by the incoming government.
In India, the financial year starts on April 1 and ends on March 31 of the following year.
Right ahead of the interim budget presentation, the traditional pre-budget ‘halwa’ ceremony was held last week initiating a ‘lock-in’ period for the finance department officials involved in budget preparation to maintain confidentiality until the document's tabling in the Lok Sabha. This ceremony also marks the beginning of the printing of the Union Budget.
On January 31, the Budget Session of Parliament commenced with President Droupadi Murmu's address where she highlighted the achievements of the Centre including the emergence of nearly 25 crore people from poverty during the 10-year tenure of her government.
Parliamentary Affairs Minister Pralhad Joshi emphasized the main agenda for the brief session, including the President's Address, the presentation of the interim budget.
On February 1, the Union Budget 2024 will be announced at 11 am. Earlier, the budget used to get announced on the last working day of February. However, the change was introduced during the first tenure of PM Modi-led government in 2017 by former Union Finance Minister Arun Jaitley.
The live streaming of Nirmala Sitharaman's budget speech will be telecasted on DD News on February 1.
Moreover, the Press Information Bureau (PIB) will also be broadcasting the Budget online through its official YouTube channel and website.
At the end of the budget presentation on February 1, the budget-related official documents will be available on the official website and the mobile app. Android users can download the app from Google Play and iOS users can find it on the App Store