Budget 2024 Date & Highlights: Finance Minister Nirmala Sitharaman on 1st Feb 2024

Important Dates To Remember

February 1, 2024 Presentation of the Interim Budget by the Finance Minister February 1, 2024 Presentation of the Interim Budget by the Finance Minister

Important Dates To Remember

April 1, 2024 Start of the new fiscal year May-June 2024 The expected time frame for the new government to present the full budget

It's essential to build upon the technology focus of last year's budget, particularly emphasizing on digital, AI, technology and cyber.

It now appears very likely that the Indian economy will achieve a growth rate at or above 7% for FY24, and some predict it will achieve another year of 7% real growth in FY25 as well.

75% of the allocated Capex budget has been used by Indian Railways in the first nine months of the fiscal year. The total expenditure incurred by Indian Railways during this period amounts to Rs 1,95,929.97 crores.

The government had introduced an optional new tax regime in the Union Budget 2020-21 with lower tax rate but without a lot of the exemptions and deductions.

Over successive budgets, India has increased allocation to the technology sector (last budget saw 40% increase and stood at Rs. 16,549 Crs) which has helped drive significant progress in India’s position in the global electronics value chains.

With GST collections showing healthy growth, the Government can consider enhancing the threshold for GST registration to 40 lacs which currently is at 20 lacs.