After the formation of the new government, preparations have started to present the general budget of the country. Finance Minister Nirmala Sitharaman has given all the necessary instructions to the officials for the preparation of the Union Budget 2024-25. According to ANI news, in the budget, Sitharaman emphasized the need for careful planning and comprehensive analysis. The aim of this initiative is to ensure a well-balanced budget that addresses the country’s economic priorities and challenges well. This will be the first annual budget under Modi 3.0.
When can the budget come?
According to the news, the collaborative efforts of the Finance Ministry team are expected to contribute to a strong and strategic financial plan for the upcoming financial year. There is talk that the Union Budget may be presented in Parliament by the third week of July. However, the official date and time of the budget announcement will be notified after the schedule of the monsoon session of Parliament.
Sitharaman is set to create history as she is on her way to becoming the first finance minister to present seven consecutive budgets – including six full budgets and one interim budget – thereby surpassing Morarji Desai’s record in this regard.
GST Council meeting on 22 June
Apart from this, the Goods and Services Tax (GST) Council, headed by Union Finance Minister Nirmala Sitharaman, is scheduled to meet in the national capital on June 22. This is the first such meeting of the council after the last meeting held in October 2023. The 53rd meeting of the GST Council will be held on June 22, 2024 in New Delhi, the official X handle of the GST Council wrote on Thursday.
As per usual practice, the 53rd GST Council meeting will be chaired by the Union Finance Minister with the participation of State Finance Ministers and other stakeholders.
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