Union Budget 2024: What to Expect in this Lok Sabha Election Year
The Union Budget 2024 is approaching amidst anticipation and expectations, especially since it coincides with a Lok Sabha election year. Unlike previous years, this budget will serve as a vote-on-account, with a comprehensive budget scheduled post-elections. Finance Minister Nirmala Sitharaman is set to present the Interim Budget on February 1, providing insights into the government’s fiscal plans amid the electoral landscape.
When and Where to Watch Union Budget 2024 Live
For those keen on witnessing the budgetary discourse firsthand, the Union Budget 2024 will be unveiled on February 1 at 11 am. Various platforms including India Today, Aaj Tak, Business Today’s YouTube channel, Doordarshan (DD) News, and the Press Information Bureau (PIB) website will livestream Finance Minister Nirmala Sitharaman’s speech. Additionally, live blogs on Business Today, India Today, and Aaj Tak will offer real-time updates for interested viewers.
Nirmala Sitharaman’s Budgetary Record and Expectations
This budget marks Finance Minister Nirmala Sitharaman’s sixth consecutive presentation, aligning her with former Prime Minister Dr. Manmohan Singh’s record. Sitharaman’s tenure has witnessed five full budgets since assuming office in July 2019, surpassing her predecessors Arun Jaitley and Yashwant Sinha. Amidst varied sectoral expectations, citizens anticipate tax reforms, income threshold revisions, and regulatory enhancements.
Sector-Wise Anticipations from Union Budget 2024
Beyond tax revisions, sectors like recruitment and entrepreneurship anticipate budgetary provisions for workforce development, regulatory frameworks, and capital accessibility. Amidst calls for a more inclusive financial ecosystem, women entrepreneurs seek increased capital allocation to bolster their ventures. Expectations also extend to targeted sectoral incentives fostering investment, job creation, and industrial growth.
Economic Outlook and Market Implications
Given the budget’s proximity to general elections, market analysts anticipate a cautious approach with minimal short-term impacts. Emphasis remains on long-term infrastructural investments, particularly in manufacturing and renewable energy sectors. While market reactions may be subdued initially, a comprehensive analysis of budgetary announcements becomes crucial for informed investment decisions.
Union Budget 2024: Detailed Schedule and Process
Prior to the budget presentation, Finance Minister Nirmala Sitharaman will engage in various pre-budget rituals, including team photo sessions and meetings with the President for approval. The budget session commences with Sitharaman’s arrival at Parliament, followed by a Cabinet meeting for budget ratification. Subsequently, at 11 am, Finance Minister Sitharaman will present the Interim Budget for 2024, with expectations of a comprehensive budget post-elections in July.
As the nation awaits Budget 2024, the collective gaze remains on the government’s important strategies amidst evolving socio-political dynamics.
| Aspect | Highlights |
|---|---|
| Budget Date & Time | February 1, 2024, at 11:00 am |
| Live Streaming Platforms | India Today, Aaj Tak, Business Today’s YouTube channel, Doordarshan (DD) News, Press Information Bureau (PIB) website |
| Finance Minister’s Record | Sixth consecutive budget presentation for Nirmala Sitharaman; matches record with Dr. Manmohan Singh; surpassed Arun Jaitley and Yashwant Sinha in total budget presentations |
| Sectoral Expectations | Tax reforms, income threshold revisions, regulatory enhancements, workforce development, skill enhancement, women entrepreneurship, targeted sectoral incentives |
| Economic Outlook | Focus on long-term infrastructural investments, manufacturing, renewable energy sectors; minimal short-term market impacts |
| Budget Schedule & Process | Team photo session, meeting with President, Parliament arrival, Cabinet meeting, Budget presentation at 11:00 am; Interim Budget with full budget post-elections in July |
