Live Coverage 2024: FM Sitharaman Delivers Interim Budget Ahead of Lok Sabha Elections

In a significant financial update today, Finance Minister Nirmala Sitharaman unveiled the interim budget for 2024. This preliminary financial plan sets the stage for the comprehensive budget, which is anticipated after the forthcoming Lok Sabha elections. Today’s announcement by FM Sitharaman marks her sixth presentation of the Union Budget in Parliament, emphasizing its interim nature due to the proximity to the national elections.

Contrary to some speculations, the interim budget maintained the status quo on tax slabs, retaining the existing structures in both the old and new regimes. This decision reflects the government’s approach to financial stability and consistency as the nation prepares for the electoral process.

This provisional budget primarily aims to secure parliamentary approval for preliminary funds, ensuring uninterrupted governmental operations during the initial four months of the new fiscal year. The Budget Session, which commenced with President Droupadi Murmu’s address to both houses of Parliament, is set to conclude on February 9.

Reflecting the market’s anticipation of the budget’s impact, Indian stock markets opened positively, indicating investor confidence amid these fiscal announcements.