Conquer Your Cash: Your 2024 Guide to Budgeting Bliss
Master your finances, crush your goals, and build a brighter financial future - all without sacrificing fun!
Kehana 
Of course! Now, let's talk about the Union Budget 2024–25 This budget is quite important because it was presented in the year of the general elections. The following are some salient points:
1. Interim Budget 2024–25: On 1st February 2024 , Union Finance Minister Nirmala Sitharaman introduced the interim budget in the Lok Sabha.³.
- The interim budget acts as a vote on accounts to fund the period until the new government proposes a full budget in July 2024, given that this is an election year (with elections most likely to take place in April or May of 2024)2.
While fiscal largesse doesn't always influence election outcomes, the government remained fiscally prudent, avoiding major announcements. - The interim budget outlines allocations for ongoing programs during the first three months of the fiscal year, bridging the gap until the full budget is drafted by the new government2. - Expectations were high, and the budget aimed to strike a balance between welfare and employment-generating schemes2.
2. Fiscal and Growth Forecasts : - The estimated deficit amounts for FY24 and FY25 were 5.8% and 5.1% , respectively.1. - The inclusion of Indian bonds in international bond indices contributed to the currency's stability, which was in line with the goals of the budget.·.
3. Economic Roadmap : - The budget established a long-term strategy connected to Vision 2047 , guaranteeing a seamless handover of financial duties until the following administration takes office.¹. - Updated forecasts for FY23–24 showed advancement toward 4.5% budgetary deficit by FY26 .³.
To sum up, the interim budget set the foundation for the full budget, which will be presented later in the year, by attempting to strike a balance between budgetary prudence, social welfare, and economic growth. Watch this space for more updates and analysis! ????????????????
Source: Discussion with Bing, January 2, 2024
(1) PwC India's Budget 2024: Highlights, Expectations, and Key Points. View the interim budget for 2024 at https://www.pwc.in/budget.html.
(2) Budget 2024: Three items to be aware of in the interim financial plan. Three items to keep an eye out for in the interim budget: https://timesofindia.indiatimes.com/business/budget/budget-2024/articleshow/107299798.cms.
(3) Budget 2024: No Surprise, Just the One Surprise — Forbes India. The budget for 2024 is the only surprise—no surprises—according to Forbes India (91185/).
(4) Budget 2024 Key Takeaways: The economy has shown signs of improvement. The article highlights the key highlights of the 2024 budget, as stated in Nirmala Sitharaman's speech (9128187)...
(5) Budget 2024's Principal Features LIVE News: No modifications to the direct... - Mint. The interim budget for agriculture, infrastructure, fiscal deficit, and human resources is available at https://www.livemint.com/economy/budget-2024-25-key-highlights-live-updates-nirmala-sitharaman-11706695416199.html.
