Budget 2024: What to Expect and When to Expect It – Stay Tuned for the Big Announcement!

While reports hint that Finance Minister Nirmala Sitharaman might present the Union Budget 2024 for FY25 on July 23 or 24, there hasn’t been an official confirmation yet. As the anticipated date draws near, expectations, demands, and predictions from the public, industries, and economists are on the rise.

Lok Sabha Updates and Speaker Re-election

The 18th Lok Sabha’s first session began on June 24. On June 26, Om Birla, a three-time BJP MP, was re-elected as the Lok Sabha Speaker for a second term, winning against the INDIA bloc’s candidate, Congress’ Kodikunnil Suresh, through a voice vote.

Budget 2024: Monsoon Session and Budget Timeline

According to sources, the Monsoon Session of Parliament is expected to start on July 22, with the Budget presentation likely to coincide with it. This session is projected to run until August 9.

GST Council Meeting Insights

On June 22, Finance Minister Nirmala Sitharaman led the 53rd GST Council meeting, discussing various proposals to improve GST application across goods and services. The meeting resulted in several recommendations to adjust tax rates and service exemptions within the GST framework.