The interim budget will provide assessments of the government s expenditure, revenue, fiscal deficit, financial performance, and projections for the upcoming months. The full budget is scheduled to be presented after the Lok Sabha elections by the newly elected government.
The Indian government plans to support manufacturing and enhance the charging infrastructure for electric vehicles, according to Finance Minister Nirmala Sitharaman.
Budget 2024 announcement: Union Finance Minister Nirmala Sitharaman will present the Interim Budget 2024-25 on February 1. The full budget for FY25 will be presented after the formation of the new government following the Lok Sabha elections 2024.
FM Sitharaman did not propose to make any changes relating to taxation and propose and retained the same tax rates for direct taxes and indirect taxes including import duties.
Prime Minister Narendra Modi, hailing what he called the first budget of Amrit Kaal, said that it would lay a strong foundation for building a developed India by 2047.