The much-anticipated Parliament Budget session is on the horizon, set to unfold from January 31 to February 9, as per recent media reports. A crucial event in the political calendar, this session will witness Finance Minister Nirmala Sitharaman presenting the Interim Budget for the fiscal year 2024-25 on February 1.
The commencement of the budget session will be marked by President Droupadi Murmu addressing both houses on the inaugural day. However, this year’s budget holds unique characteristics as it is slated to be an interim budget, a departure from the norm of presenting a comprehensive one. This shift is attributed to the impending Lok Sabha elections, scheduled within the next two to three months.
One of the significant highlights anticipated in the interim budget is a proposal to double the PM Kisan Samman Nidhi for female farmers. This proposal, if implemented, could entail an additional expenditure of ₹12,000 crore for the government. The details of this proposal are expected to unfold on February 1 during the budget presentation.
In a departure from previous years, where a detailed Economic Survey was presented, this year’s session is expected to feature a concise report on the state of India’s economy for the fiscal year 2024-25, preceding the interim budget presentation.
The finance ministry has already sought expenditure proposals for the second and final batch of Supplementary Demands for Grants from various ministries and departments, a customary step leading up to the Budget session. This session, being the last of the 17th Lok Sabha before the general elections, will witness the government seeking expenditure approvals for the next four months, until July 2024, through a vote on account.
As the nation gears up for this pivotal parliamentary session, all eyes are on the proposals and policies that will shape India’s economic trajectory in the coming months.
Conclusion:
The upcoming Parliament Budget session promises to be a defining moment in India’s fiscal landscape. With a focus on an interim budget, the session reflects the unique circumstances of an election year. As key proposals, including potential financial support for female farmers, come to the forefront, the nation awaits insights that will steer economic policies and decisions in the months ahead. Stay tuned as the parliamentary discourse unfolds, providing crucial glimpses into the fiscal roadmap of the nation.