On July 23, Finance Minister Nirmala Sitharaman unveiled the Union Budget 2024-25 in Parliament. This marks the first Budget of Prime Minister Narendra Modi’s third term. The 2024 Budget outlines the government’s plan for achieving ‘Viksit Bharat’ by 2047.
During her address to Parliament, the Finance Minister highlighted that the Budget will prioritize employment, skill development, and support for MSMEs.
The nine key focus areas for the Budget will be productivity and resilience, employment and skilling, manufacturing and services, energy and security, infrastructure, land reforms, urban development, and next-generation reforms.
“As noted in the interim Budget, our focus will be on four key groups: the poor, women, youth, and farmers. For farmers, we have increased Minimum Support Prices for all major crops to ensure at least a 50% margin over production costs. Additionally, the PM Garib Kalyan Anna Yojana has been extended for five years, benefiting over 80 crore people,” she stated.
Nirmala Sitharaman made history as she became the first Finance Minister to present seven consecutive budgets.