First Budget of Modi Govt 3.0 on July 23

• By Thetripurapost Desk, New Delhi
• Jul 06, 2024
• 312

The first budget of Modi Government 3.0 will be presented on 23 July. Finance Minister Nirmala Sitharaman will present the budget for the seventh consecutive time. The budget session will run from 22 July to 12 August. She will become the first Finance Minister of the country to do so. Earlier, Morarji Desai had presented six consecutive budgets.

Parliamentary Affairs Minister Kiren Rijiju gave this information on Saturday. He said that President Draupadi Murmu has approved it on the recommendation of the Central Government. This budget will be the first full budget of the new government. The government had presented the interim budget in February.

The Expectations

This budget may focus on tax relief and farmers

This budget may focus on giving tax relief to the middle class, women empowerment, increasing farmers' income and employment.

The standard deduction limit may be increased from ₹50,000 to ₹1,00,000. Many announcements may also be made in the defence, railways, infrastructure and renewable energy sectors.

The government can consider reducing the angel tax levied on startups.

A PLI scheme worth ₹40,000 crore is likely for electronics sub-assemblies and components.

Amendments may be brought in the Insolvency and Bankruptcy Code (IBC) 2.0.

Andhra Pradesh may get a special package of Rs 1 lakh crore.

The interim budget was presented on 1 February 2024.
Lok Sabha elections were to be held in April, May this year, so the government presented the interim budget on February 1. Nirmala Sitharaman had focused her budget on the poor, women, youth and the farmer