Fiscal deficit is estimated at 4.9% of GDP; total receipts estimated at ₹32.07 lakh crore, expenditure at ₹48. 21 lakh crore in FY25, says Finance Minister in Budget
Finance Minister Nirmala Sitharaman presented her seventh straight Budget on July 23 for the fiscal 2024-25, surpassing the record of former Prime Minister Morarji Desai. The presentation on July 23 is the first Budget by the BJP-led NDA government since it was re-elected in June. Ms. Sitharaman made major announcements for Bihar and Andhra Pradesh, including a boost in infrastructure and special financial support. The announcement covers human resource development, infrastructure and the generation of economic opportunities to make the eastern region of the country covering Bihar, Jharkhand, West Bengal, Odisha and Andhra pradesh an engine to attain Viksit Bharat.
Meanwhile, for promoting women-led development, Ms. Sitharaman said the Budget carries an allocation of more than ₹3 lakh crore for schemes benefitting women and girls. Presenting the Union Budget for 2024-25 in the Lok Sabha, Ms. Sitharaman said this signals the government’s commitment in enhancing women’s role in economic development.