Union Minister Nirmala Sitharaman on Tuesday participated in the traditional Halwa Ceremony, marking the final stage of the Union budget preparation. During this ceremony, sweets are made and served to all officials and staff members of the Finance Ministry. Afterwards, the department will remain in the basement of North Block without any contact with the outside world to maintain secrecy. On July 23rd, the Budget for the year 2024-25 will be officially unveiled in Lok Sabha.

Nirmala Sitharaman, Minister of State for Finance Pankaj Chaudhary, Finance Secretary T V Somanathan, Economic Affairs Secretary Ajay Seth, and Financial Services Secretary Vivek Joshi were present at the ceremony. After the ceremony, Sitharaman attended a press conference and revealed that the 2024-25 budget will be in paperless form.

Nirmala Sitharaman will now be holding a record to present the budget for the seventh consecutive time.

Expectations From Budget 2024-25:

1. As India drives towards the $5 trillion GDP target, experts anticipate easier credit norms.

2. The Managing Director of Capri Global Capitals Ltd expects more support for women entrepreneurs through MSME initiatives.

3. Increased allocation towards agriculture is anticipated.

4. Budget 2024-25 is expected to focus on fiscal consolidation, job creation, rural spending, and higher capex spending.

5. The budget session will likely address state loans, roads, and railways, while also attracting industrial sectors like textiles.

6. The government may consider providing affordable financing and safety measures for SMEs.

7. NSE & BSE investors are eagerly awaiting potential benefits from the Narendra Modi 3.0 government. Any deviation or misinterpretation could have a significant negative impact on markets.
-Sanyogita