Finance Minister Nirmala Sitharaman is set to present the sixth Union Budget for the Modi 2.0 government on February 1, 2024, in Parliament. The following are the main highlights of the Budget for the fiscal year 2024-2025.
Highlights of Budget 2024 – 2025
A Union Budget in India typically consists of the following components:
- Revenue Receipts: These include the revenue earned by the government through taxes, duties, and other sources.
- Capital Receipts: This involves the government’s capital transactions, such as borrowings and disinvestment.
- Expenditure: This outlines the government’s planned spending in various sectors like education, health, defense, infrastructure, etc.
- Fiscal Deficit: This represents the difference between the government’s total revenue and its total expenditure.
- Tax Proposals: Any changes in tax rates, policies, or new tax proposals are presented.
- Policy Measures: The budget speech often includes broader economic policies and measures that the government plans to implement.
- Economic Survey: Sometimes presented a day before the budget, it provides an overview of the country’s economic performance in the preceding year and outlines the economic outlook.
