Budget 2024 date: Nirmala Sitharaman to present Budget 2024-25 on July 23, session begins from July 22

Finance Minister Nirmala Sitharaman will present the highly anticipated Union Budget on July 23. President Droupadi Murmu approved a proposal on Saturday to summon both houses of Parliament between July 22 and August 12. This will be the first budget presented by the Narendra Modi-led government since it was re-elected for a record third term earlier this year.

“President Droupadi Murmu (on the recommendation of the government) has approved the proposal for summoning both the Houses of Parliament from July 22 to August 12. Union Budget 2024-2025 will be presented in Lok Sabha on July 23,” read an update shared by Union Minister Kiren Rijiju.

The President had earlier indicated that the upcoming Budget would be marked by several ‘historic’ steps and carry ‘major social and economic decisions’. Sitharaman had presented an interim budget in February ahead of the Lok Sabha elections.

This will be first full session of Parliament after the new members took oath in the first session of 18th Lok Sabha held from June 24 to July 2 following the election results.

The BJP-led National Democratic Aliiance returned to power for the third successive term in June. The inaugural session of Parliament however got off to a rocky start last week with the opposition and government clashing on a range of issues including NEET-UG examination row. The upcoming Budget gains additional significance in light of assertions made by PM Modi about ‘writing new chapters of bold decisions’ during his third term. 

The interim budget presented in February saw Sitharaman lower the FY25 fiscal deficit target to 5.1% of the GDP. The government had announced no changes in the tax slabs in both old and new regime.

The Finance Minister has already met with economists, finance and capital market experts and industry bodies for pre-budget consultations. Sitharaman also chaired a meeting with finance ministers of different states and union territories towards the end of June to take suggestions for the upcoming Union Budget.

(With inputs from agencies)