India Budget: India s cabinet has approved Interim Budget for fiscal 2025. Finance Minister Nirmala Sitharaman will present the interim budget in parliament at 11:00 am today. Prime Minister Narendra Modi vows to present a full budget after returning to power, with focus areas including women empowerment, youth, farmers, and the economically weaker section. The interim budget tests the Bharatiya Janata Party s ability to balance handouts and fiscal consolidation while competing with China and driving investments.
Budget 2024 LIVE Updates: Finance Minister Nirmala Sitharaman will be presenting an interim budget at 11 am today. Though this a vote-on-account budget, it is likely to shed light on Centre’s plan for key sectors like Infrastructure, real estate, agriculture among sectors. Stay tuned with Moneycontrol for an all-round comprehensive coverage.
In her interim Budget speech, Finance Minister Nirmala Sitharaman said a scheme would soon be launched for the middle class wherein people living in rented houses, slums or unauthorised colonies can either purchase or build their own houses.
The Modi government is breaking conventional budget norms. In the previous term, the budget presentation, which traditionally happened at the end of February, was moved to February 1.
In the interim Budget for FY25, the government has pegged the gross and net market borrowing at Rs 14.13 lakh crore and Rs 11.75 lakh crore, respectively. Most experts had pegged the gross market borrowing to be a little over Rs 15 lakh crore. The planned borrowing for FY25 is less than that in FY24. For FY24, the government had pegged gross market borrowing at Rs 15.43 lakh crore.