Interim Budget 2024: Concerns over GDP, Spending Cuts; Fiscal Deficit is Bright Spot
Key Points from the Interim Budget Highlight Economic Priorities Interim Budget 2024
Finance Minister Nirmala Sitharaman presented the Union Budget for the next financial year (2024-25) on Thursday, marking her sixth consecutive budget presentation. However, this budget differs significantly as it is an interim budget. Rather than introducing major new initiatives, FM Sitharaman took the opportunity to recap the achievements of the two successive governments under Prime Minister Narendra Modi over the past decade.
Election-Eve Report Card:
The Finance Minister’s speech served as an election-eve, self-congratulatory report card on the economic achievements fostered by Prime Minister Narendra Modi and his two administrations since 2014. Sitharaman, echoing the Finance Ministry’s economic review, highlighted that the government, faced with enormous challenges, overcame them through structural reforms, pro-people programs, and the creation of opportunities for employment and entrepreneurship.
The emphasis was on an inclusive and sustainable policy approach that contributed to a more comprehensive GDP of governance, development, and performance. A confident tone resonated throughout the speech, with Sitharaman avoiding announcements that could be construed as targeting specific voter constituencies. Instead, the focus was on affirming the commitment to an inclusive policy approach.