Total 19 Sittings: Budget Session 2024 From Monday
- By Thetripurapost Desk, New Delhi
- Jul 21, 2024
- 287
Union Finance Minister Nirmala Sitharaman is set to present her historic seventh Union Budget. The Monsoon Session of Parliament will begin from tomorrow ie Monday on July 22.
With the presentation of this year's budget, Sitharaman will establish herself as the first finance minister to present seven consecutive budgets, breaking Morarji Desai's record of six budget presentations.
Desai, who was the country's Finance Minister from 1959 to 1964, presented a record six budgets for the country, of which five were full budgets and one was an interim budget.
Like the last few full Union Budgets, Budget 2024 will also be presented in paperless form. The Interim Union Budget 2024 was presented on February 1, as the country was due to go to the general elections. However, as part of the preparation of the budget, the Finance Ministry has completed several rounds of consultations with various stakeholders of the economy.
These meetings began on June 20, during which Sitharaman met representatives from trade unions, education and health sectors, employment and skills, MSMEs, trade and services, industry, economists, financial sector, capital markets, energy and urban sector, as well as infrastructure.
During the meetings, economists discussed several important issues such as boosting capital expenditure and reducing fiscal deficit. The group of economists suggested to the ministry that in the upcoming budget, along with reducing fiscal deficit, attention should also be paid to employment growth.
Industry body Confederation of Indian Industry (CII) suggested that the government should increase capital expenditure in the upcoming budget. Economists also stressed the need to increase capital expenditure.
Farmer organisations urged the Finance Minister to increase the budgetary allocation for the agriculture sector. Representatives from skill and employment sectors suggested ways to skill the youth for better utilisation of the workforce.
This year's monsoon session will have 19 sittings till August 12.
The Modi government is expected to introduce six bills, prominent among them being the Aircraft Act and the approval of the Jammu and Kashmir budget by Parliament.
The government will also introduce the Finance Bill after the budget announcement on July 23. Other bills include the Disaster Management Act, the Indian Aircraft Bill. 2024, the Boiler Bill, the Coffee (Promotion and Development) Bill, and the Rubber (Promotion and Development) Bill to be introduced in this year's monsoon session.
The Indian Aircraft Bill 2024 will replace the Aircraft Act of 1934 and streamline regulations in the civil aviation sector, helping industry players in the sector.
The interim budget presented on February 1 addressed the financial needs of the intermediate term until the formation of a government after the Lok Sabha elections, after which a full budget was to be presented by the new government in July.
The Union Budget documents will be available on the “Union Budget Mobile App” for hassle-free access to the Budget documents by Members of Parliament (MPs) and the public.
The app is bilingual (English and Hindi) and is available on both Android and iOS platforms. The app can also be downloaded from the Union Budget web portal (www.indiabudget.gov.in)