All articles tagged with #interim budget
Finance Minister Nirmala Sitharaman presented a low-key interim budget just ahead of the national election, adhering to the traditional lack of freebies in such budgets. She had previously cautioned against expecting any significant announcements, and indeed, the budget did not contain any surprises or extravagant measures, in line with the expected purpose of simply seeking approval for government spending for a few months.
Finance Minister Nirmala Sitharaman presented a low-key interim budget just ahead of the national election, refraining from offering any freebies as expected. She had previously cautioned against expecting any excitement, and indeed, the budget was devoid of any surprises or giveaways, in line with the traditional uneventful nature of interim budgets.
Finance Minister Nirmala Sitharaman explains that the Interim Budget is based on the Modi Government’s 10-year performance and the mantra of "sabka saath, sabka vikas," emphasizing empowerment over entitlement. The budget aims to financially empower people and create opportunities, with a focus on capital expenditure for sustainable recovery. Sitharaman highlights the importance of fiscal prudence, improved revenue, and avoiding wastage, while also addressing the growing aspirations and contributions from newer areas of economic activity. The budget includes measures to support research and innovation, digital infrastructure, and state development, with a focus on leveraging India's demographic advantage for long-term planning and overall development.
Finance Minister Nirmala Sitharaman presented an interim budget aligning with Prime Minister Narendra Modi’s campaign themes, emphasizing social justice and addressing the needs of the poor, women, youth, and farmers. She described the government’s measures as "secularism in action" and highlighted the fight against corruption. Additionally, she proposed setting up a committee to address challenges arising from population growth and demographic changes, aligning with the BJP ideology. The budget focused on fair resource distribution and systemic inequalities, with a detailed roadmap for the pursuit of Viksit Bharat to be presented in the full budget in July.
India is set to release its interim budget ahead of the general elections, with expectations for a focus on fiscal deficit targets, capital spending, and potential tax benefits. Analysts anticipate increased infrastructure spending and a focus on rural development, while also predicting that the Indian stock markets may rally if the Reserve Bank of India cuts interest rates in the second half of 2024.