Finance Minister Nirmala Sitharaman is likely to present the Union Budget for 2024-25 by the third week of July. The consultation process involving stakeholders will begin this week.

According to media reports, Finance Minister Nirmala Sitharaman has directed officials to kickstart the budget preparation process, emphasising the need for meticulous planning and comprehensive analysis.

This will be Finance Minister Nirmala Sitharaman’s seventh budget and the complete budget for 2024-25.

On February 1, Finance Minister Nirmala Sitharaman presented the interim budget for 2024-2025 in Parliament as the country went to the polls for the Lok Sabha elections.

The government presents an Interim budget either in a transition period or in its last year in office ahead of general elections. The objective of the interim budget is to ensure the continuity of government expenditure and essential services until the new government presents a full-fledged budget.

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In the February interim budget, the government focused on improving productivity and creating opportunities for various sections while noting that it will pay utmost attention to the eastern region, including the states of Bihar, Jharkhand, Chhattisgarh, Odisha, and West Bengal, to make them growth engines as part of the goal of making India a developed country by 2047.

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