The first full Union Budget of 2024 will work towards the goal of creating Viksit Bharat by 2047, said Prime Minister Narendra Modi on the first day of the monsoon session of the Parliament.
The Budget, to be tabled in the Lok Sabha today, will be Modi 3.0 government’s first Budget and Finance Minister Nirmala Sitharaman’s seventh, a landmark in itself.
“This Budget is an important Budget for Amrit Kaal … .This Budget will also become a strong foundation of our dream of Viksit Bharat,” the Prime Minister said addressing the media on Monday.
Sitharaman, who is also the Union Minister of Corporate Affairs, tabled the Economic Survey 2023-24 in the Parliament on Monday. The survey projects GDP growth of 6.5% to 7% for 2024-25.
The survey pointed out that the country’s economy has maintained its momentum despite global headwinds though geopolitical conflicts in 2024 will likely impact the supply chain, commodity prices, and capital flow, and add to inflationary pressures, among other effects.
The survey also noted that the agriculture, industry and services sectors continued growth momentum during the year. Now, it is incumbent upon the private sector to continue the momentum of capital formation in partnership with the government, it added.
The startup ecosystem, primed to be the growth driver for the Indian economy, has high expectations from the Budget. From investors to the tech industry, EV ecosystem, agritech players, and more, startups are looking forward to the launch of new schemes to boost domestic investments.
All eyes on the Budget today!
