Prime Minister Narendra Modi will meet with top economists and sectoral experts on Thursday to gather insights for the upcoming Union Budget. Union Finance Minister Nirmala Sitharaman is slated to present the 2024–25 Budget in the Lok Sabha on July 23. The meeting will also feature Niti Aayog, Vice Chairman Suman Bery and other key members.
Significance of the Modi 3.0 government’s first budget
This will be the first major economic document from the Modi 3.0 government, expected to outline a roadmap for making India a developed nation by 2047.
President Murmu hints at major reforms
In a recent address, President Droupadi Murmu hinted at historic steps in the upcoming Budget to accelerate reforms, reflecting the government’s far-reaching policies and futuristic vision.
Stakeholder consultations already underway
Sitharaman has been engaging with various stakeholders, including economists and industry leaders. Many experts have called for tax relief to boost consumption, measures to curb inflation, and steps to accelerate economic growth.
Economic performance in focus
The Indian economy recorded an 8.2% growth rate in 2023-24. An interim budget was presented by Sitharaman in February, ahead of the Lok Sabha elections.
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