Budget 2024: Finance minister likely to present full budget on July 1, say sources

The finance minister Nirmala Sitharaman may present the full budget for FY25 on July 1, 2024, according to the Zee Business sources.

PM Modi is seen in action mode since taking oath as Prime Minister for the third consecutive time. After giving a big gift to farmers and common man in his first cabinet meeting, he is now going to open his box for the whole country very soon. 

According to Zee Business sources, a special session of Parliament may be called between 24 June and 3 July, and the first budget of Modi 3.0 government is likely to present on 1 July. 

"The Speaker of the Lok Sabha will be elected for the 18th Lok Sabha on 26 June and the President may address the House on 27 June," said sources.

Modi 3.0: Sitharaman retains finance ministry

Nirmala Sitharaman has been entrusted with the critical portfolios of Finance and Corporate Affairs. This assignment underscores her continued role in India's economic policies and managing corporate governance.

Sitharaman's return comes on the back of a successful track record with the Indian economy clocking a robust 8.2 per cent growth in 2023-24, which is the fastest among the world's major economies, and inflation coming down to below 5 per cent.

During her tenure as Finance Minister, the fiscal deficit has also been reduced from more than 9 per cent of GDP in 2020-21 to the targeted level of 5.1 per cent for 2024-25. This has strengthened the macroeconomic fundamentals of the economy. S&P Global Rating raised India's sovereign rating outlook to 'positive' from 'stable', citing the country's improving finances and strong economic growth.

With agency inputs