New Delhi:
President Draupadi Murmu addressed the joint session of Parliament on Thursday in the first session of the 18th Lok Sabha. Meanwhile, he presented the roadmap of the new government. The President said that India is a fast growing economy. The pace of economic development will be faster. This budget will see historic measures. The government has launched a campaign of service and good governance. Some socio-economic signs of the coming days are also being seen in the President’s address.
President Draupadi Murmu said, “In the coming sessions, this government is going to present the first budget of its tenure. This budget will be an effective document of the government’s far-reaching policies and future vision.” “The determination to reform, perform and transform has made India the fastest growing economy in the world today. From 2021 to 2024, India has grown at an average pace of 8%,” the President said. In such a situation, it is believed that the government may make some big announcements on this front in the coming days.
Find out what economic and social reforms the Union Government may announce in the upcoming Budget 2024:-
The fund of PM Awas Yojana can be increased
NDTV Senior Political Editor Himanshu Shekhar Mishra says, “The first decision taken by the Modi government after coming to power for the third time was in the interest of the poor and rural. The government announced that 3 crore new houses would be built for people in urban and rural areas in the interest of the poor. It is expected that the budget will announce construction of 3 crore new houses.
Someone laughed, someone listened: who has what arrow, was indicated by gestures in the Lok Sabha.
The government will focus on capital expenditure
Himanshu Shekhar Mishra says, “In this budget, the government is going to focus more on capital expenditure. The President has also indicated this in his address. President Draupadi Murmu said that India is the fastest growing economy in the world. It is understandable. That our The country is on track to become the third largest economy in the world – manufacturing, services or the government will focus on capital expenditure in the next budget, ie, the government may make special announcements on infrastructure and agriculture.
It will also be special for PM Kisan scheme
Economist Vijay Sardana says, “There are indications that special announcements have been made regarding farmers and PM Kisan Yojana in this budget. The President has also outlined it in his address. He said that the Modi government has created PM Kisan Yojana. Under Samman. Nidhi, More than 20,000 crores have been transferred to the farmers of the country considering their current needs, it is hoped that the Modi government will make a big announcement regarding the Kisan Samman Nidhi, PM Kisan scheme in this budget.
Middle class can get relief in income tax
Economist Vijay Sardana says, “Every year people are interested in the budget regarding tax slabs and announcements regarding income tax. The President has also hinted about income tax in his address. In such a situation, it is expected that Finance Minister Nirmala Sitharaman will increase the income tax slab from Rs 3 lakh to Rs 1 lakh.” 5 lakh may give some relief to the middle class in the new tax regime.
It is hoped that these matters will also be announced in the budget
– PM Kisan Samman Nidhi can be increased.
– Measures may be announced to boost the growth rate of agriculture sector.
– PM Awas Yojana may be announced in rural areas.
– MNREGA working days are likely to be extended and may be announced to include agriculture related works as well.
– Focus can be on women, youth, farmers and poor.
– In the new tax system, the income tax exemption slab may be limited to 5 lakhs.
– Emphasis can be placed on increasing consumption, hopefully putting more money in the hands of consumers.
– New concessions are also possible on housing loans.
– Government’s focus will be on capital expenditure, spending on infrastructure may increase.
– Special attention can be given to MSME.
The position regarding OPS may be clarified. The committee has given its report in this regard.
– New incentives can also be announced regarding EV ie electric vehicle.
– Green energy can be promoted.
– PLI scheme can be extended to other areas.
– Clarification can be given on labor code regarding labor reform.
When will the budget of 2024-25 be presented?
The Union Budget for the financial year 2024-25 may be presented in Parliament by the third week of July. On February 1, Finance Minister Nirmala Sitharaman presented the interim budget for the financial year 2024-2025. The Union Budget is presented in July of the year in which the Lok Sabha elections are held.