Budget In July 2024: The first full budget of the Modi 3.0 government will be presented in July. As soon as the name of the budget comes, the first thing that comes to people’s mind is income tax relief. Finance Minister Nirmala Sitharaman will present the first budget of Modi 3.0 and her seventh budget, it is believed that she can present the full budget in Parliament on July 1.
Union Budget 2024: Budget, Budget, Budget… Look, once again the date of the budget has come. The first full budget of the Modi 3.0 government will be presented in July. As soon as the name of the budget comes, the first thing that comes to people’s mind is relief in income tax. The middle class, which felt cheated in the interim budget of February, now has high expectations from the budget to be presented in July. In the interim budget of February 2024, the Finance Minister had given a rattle to the middle class, now that middle class has a lot of expectations from Finance Minister Nirmala Sitharaman. The expectations are also high because the government is the same and the Finance Minister is also repeated.
Tax name 42 times, but no relief
In the interim budget of February 2024, neither tax was changed nor any major announcements were made. The Finance Minister said that since it is an election year, the budget will remain interim, that is, the real budget will come now. Finance Minister Nirmala Sitharaman will present the country’s budget in July. Last time in his 58 minute budget speech, the finance minister spoke about tax 42 times, but there was no relief in any kind of tax, direct or indirect. Finance Minister Nirmala Sitharaman had indicated that if the government led by Prime Minister Narendra Modi returns to power after the Lok Sabha elections, then taxpayers may be given a tax exemption in the full budget in July. The Finance Minister had turned the middle class’s disappointment after not getting tax relief in the interim budget into hope by saying that everyone will be heard in the July budget. She said this during an interview with a channel.
Hope for relief in July
The people of the country have put the Modi government in power for the third time. Prime Minister Narendra Modi’s first sign as soon as he took power was for the relief of farmers. The very next day after taking oath, PM Modi released the 17th installment of the Pradhan Mantri Kisan Samman Nidhi Yojana. After this, big announcements were made regarding the Pradhan Mantri Awas Yojana. In such a situation, the hopes of taxpayers have increased that their long wait may end this time in the full budget. The monsoon session has been called between 24 June and 3 July. During this, Finance Minister Nirmala Sitharaman will present the first and her seventh budget of Modi 3.0, it is believed that she can present the full budget in Parliament on July 1, in which many big announcements are expected in favor of the general public.
Expectation of populist budget
During the Lok Sabha elections, BJP had given the slogan of crossing 400, but it could not achieve it completely. BJP could not even cross the majority mark on its own. BJP won 242 seats, but it has also sensed the displeasure of the people struggling with inflation. In such a situation, assembly elections are going to be held in many states in the year 2025. It is believed that in view of the assembly elections, the Finance Minister can present a populist budget. In which along with the focus on public welfare schemes and economic development of the poor, the middle class can be given some relief from the heavy burden of tax. According to experts, every government works on welfare schemes, but when the alliance is decisive, then the focus increases on those schemes, which are related to the people. Relief in income tax can be announced to provide relief to the general public
Focus of the budget
The focus of the Finance Minister will be on strengthening the economy. Relief can be given to promote investment. The focus may be on women, farmers and youth. PM Modi has promised to make the country the third economy of the world in the next five years. The budget may focus on how to strengthen the country’s economy. Since the results of the Lok Sabha elections 2024 have not come as per the expectations of the BJP, it is expected that the full budget can be quite populist. In this, emphasis can be given on issues ranging from relief in income tax to the common man to special announcements for farmers. Other schemes like PM Ujjwala Yojana can be announced. The government will also focus on promoting infrastructure and manufacturing.
