Budget 2024: The date of the general budget has been announced. Finance Minister Nirmala Sitharaman will present the budget in the Lok Sabha on 23 July.
Budget 2024: The date of the general budget has been announced. Finance Minister Nirmala Sitharaman will present the budget in the Lok Sabha on 23 July. The budget session of Parliament will be held from 22 July to 12 August. Announcing the dates of the budget session, Parliamentary Affairs Minister Kiren Rijiju posted on social platform X, “The Hon’ble President has approved the proposal to convene both the Houses of Parliament for the Budget Session, 2024 from 22 July 2024 to 12 August 2024 on the recommendation of the Government of India.”
Union Parliamentary Affairs Minister Kiren Rijiju informed that the general budget will be presented in the Lok Sabha on 23 July. Finance Minister Nirmala Sitharaman will present the full budget of the Modi 3.0 government. Earlier, she presented the interim budget in Parliament on 1 February this year.
What will be special in the budget
After forming the government for the third time at the center, the focus of the Modi government in this budget will be on the agriculture sector, employment, maintaining the pace of capital expenditure and increasing revenue growth. Apart from this, simplifying GST and reducing the burden related to tax compliance is also expected to be on top of the government’s agenda.
Expectation of relief to taxpayers
In this budget, salaried people and taxpayers can get a big relief. It is being speculated that the government can increase the scope of income tax exemption and also give an additional tax exemption of 50 thousand to the salaried people.
Tax experts say that the government can double the standard deduction giving a big relief to the salaried people. Currently, a standard deduction of Rs 50,000 is available in every financial year. This is given in lieu of the expenses of the salaried people and there is no need to submit any document for this.
