Union Budget 2024

Here’s a breakdown of what it typically includes:

1. Revenue Estimates: This includes projections of how much the government expects to earn from various sources, like taxes (both direct and indirect), duties, fees, and other income.


2. Expenditure Plans: This details how the government plans to spend its revenues. Expenditures are categorized into different sectors like defense, education, healthcare, infrastructure, social welfare, etc.


3. Fiscal Deficit/Surplus: The budget also shows whether the government expects to spend more money (deficit) than it earns or if it will have surplus revenue.


4. Economic Policies: The budget is a key instrument for the government to outline its economic policies. It can include changes in tax rates, new schemes for social welfare, initiatives for economic development, etc.


5. Resource Allocation: It shows how resources are allocated among different sectors and regions of the country.


6. Public Debt and Borrowings: The budget also outlines the government’s borrowing plans and its strategy for managing public debt.

The Union Budget is presented by the Finance Minister in the Parliament and is subject to discussion and approval. It is a critical tool for economic planning and reflects the government’s priorities and vision for the nation’s development.

Union Budget 2024-2025 Expectations:

The Union Budget for India for the fiscal year 2024-2025 is expected to be guided by the Modi government’s focus on inclusive development. Key areas of focus and initiatives likely to be emphasized in the budget include:

1. Growth Schemes: The budget is anticipated to prioritize various growth schemes such as Ujjwala, Jal Jivan Mission, PM Kisan, and Swachh Bharat.


2. Inclusive Development: A significant emphasis is expected on ensuring that the benefits of economic growth and development reach all sections of society, including marginalized and rural communities.


3. Infrastructure and Social Welfare: Investments in infrastructure and social welfare programs are likely to be key components of the budget, aiming to improve living standards and provide basic amenities to the population.


4. Economic Reforms: The budget may introduce new economic reforms or continue with the ongoing reforms to boost the economy, attract investments, and create job opportunities.


5. Fiscal Management: Efficient management of the country’s finances, including addressing fiscal deficit concerns and ensuring sustainable economic growth, is expected to be a crucial aspect of the budget.


6. Sector-Specific Allocations: Allocations for key sectors like agriculture, education, healthcare, and defense are likely to be outlined, reflecting the government’s priorities for the year.


7. Taxation and Revenue Generation: The budget might also include measures related to taxation, both direct and indirect, and strategies for revenue generation to support the proposed expenditures.

It’s important to note that these are anticipatory highlights based on the government’s known priorities and previous budgets. The actual details will be available once the budget is officially presented.