Union Budget 2024 Date and Timing

Who Will Present the Budget 2024?

Year after year, the Union Budget remains a highly anticipated event. Because it’s akin to updating the roadmap for the nation’s continuing economic journey. The 2024 Budget, crafted by the newly elected government, is particularly significant as it sets the tone for potentially the next five years. This elaborate article will discuss all the essential information about the Union Budget 2024, from who presents it to the nitty-gritty details.

Who Will Present the Budget 2024?

The Union Budget of India will be presented by the finance minister of India, Mrs. Nirmala Sitharman. This critical role is currently held by Nirmala Sitharaman, who has served as the finance minister since 2019. She will once again take centre stage on July 23rd, 2024, to unveil the government's financial blueprint for the year ahead.

Date and Time of Union Budget 2024

Budget 2024 will be presented in the Lok Sabha (lower house of Parliament) on July 23rd, 2024. The exact time of the presentation is not yet officially confirmed, but traditionally, the budget speech begins sometime in the late morning, typically between 11 AM and 12 PM IST (Indian Standard Time). In the budget presentation, the finance minister meticulously details out the government's spending plans, tax policies, and economic vision.

The Important Budget Documents

The budget speech is just one facets of the entire budget presentation. Following the address, the Ministry of Finance releases a comprehensive set of budget documents. These documents delve deeper into the nitty-gritty details of the government's financial plan. Here's a breakdown of what you can expect:

• Annual Financial Statement (AFS): This document provides a high-level overview of the government's estimated receipts and expenditures for the fiscal year (2024-25).
• Finance Bill: This bill outlines the proposed changes to taxation policies, including any modifications to tax rates, slabs, or deductions.
• Demand for Grants: This document details the amount of money the government seeks from the Parliament for various ministries and departments.

These documents are crucial for understanding the specific implications of the budget for different sectors of the economy and for individual taxpayers. The government typically makes the budget documents readily available online shortly after the speech concludes.

Stay updated on the latest developments surrounding the Union Budget 2024 on ICICI Direct!