On Thursday, February 1, Finance Minister Nirmala Sitharaman will present the interim Union Budget 2024, marking a significant part of Parliament’s Budget session. The interim budget is presented by the government in an election year, and it is expected to provide a glimpse into the government’s plans for the upcoming fiscal year.
Deviation from the Usual Precedent
Unlike previous years, the Economic Survey, which is a usual precursor, will not be presented on January 31, a day before the interim Budget. This deviation is attributed to the nature of this budget, which is interim in scope, differing from a full budget typically presented by the government.
Expectations from the Interim Budget
The interim budget is expected to focus on providing relief to the common man and boosting economic growth. The government may announce measures to address the impact of the COVID-19 pandemic on the economy, such as providing support to the worst-hit sectors and increasing healthcare spending. The budget may also include measures to boost infrastructure development, create employment opportunities, and promote entrepreneurship.
Impact on Various Sectors
The interim budget is expected to have a significant impact on various sectors, including agriculture, healthcare, education, and infrastructure. The government’s focus on these sectors is likely to provide a much-needed boost to the economy and improve the standard of living for the citizens.
The interim Union Budget 2024 is a crucial event for the government and the citizens of India. It is expected to provide insights into the government’s plans for the upcoming fiscal year and its efforts to revive the economy. The budget’s impact on various sectors will be closely watched, and its success will depend on the effective implementation of the proposed measures.
