FM Sitharaman to present full Budget on Tuesday as Modi 3.0 aims to strike the right balance

Since coming back to power, Modi 3.0 has announced measures revolving around rural focus and infrastructure including an additional 3 crore houses under PM Awas Yojana, PM Kisan installment, etc.

Finance Minister Nirmala Sitharaman will present the Union Budget for 2024-25 on July 23 amid a realistic GDP growth estimate of 6.5-7 percent laid out by the Economic Survey.

Sitharaman will present the Union Budget at 11 am in the Parliament. This will be her 7th Union Budget.

The Budget is likely to keep its focus on the revival of the rural economy, agriculture, MSMEs, and boosting consumption.

The Economic Survey has outlined expanding MSMEs as one of the key areas for growth in Amrit Kaal. Prioritising the growth and expansion of India’s MSMEs (Micro, Small, and Medium Enterprises) is highlighted as a strategic priority, recognising their significant role in the economy.

The Budget is expected to provide support to the productive sectors of the economy, by finding a fine balance between supporting investment and consumption.

With the recovery in rural consumption still sluggish, the agriculture sector is hoping the upcoming Budget will have measures to bolster rural infrastructure. A major pain point for the agriculture industry has been inflation, which is adding to the woes arising from climate change. To ease the problem, the government may announce incentives for key crops to boost farmers' incomes, while also dealing with the persistent issue of food inflation.

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The Economic Survey said that a delicate balance is needed between consumers and farmers even while rolling out price stabilisation measures, and the export bans should be invoked only under exceptional circumstances.

The survey presented says that farmers should be allowed to benefit from higher international prices and any bans on food export need to be telegraphed in advance lest hunger and famine elsewhere in the world worsen.

Since coming back to power, Modi 3.0 has announced measures revolving around rural focus and infrastructure including an additional 3 crore houses under PM Awas Yojana, PM Kisan installment, etc.