Budget Session 2024 / Budget on 23 July, Sitharaman will present it for the 7th consecutive time, budget session from 22 July to 12 August

Budget Session 2024: The first budget of Modi Government 3.0 will be presented on 23 July. Finance Minister Nirmala Sitharaman will present the budget for the seventh time in a row. The budget session will run from 22 July to 12 August. She will become the first Finance Minister of the country to do so. Earlier, Morarji Desai had presented six consecutive budgets. Parliamentary Affairs Minister Kiren Rijiju gave this information on Saturday. He said that President Draupadi Murmu has approved it on the recommendation of the central government. This budget will be the first full budget of the new government. In February, the government presented the interim budget.

The interim budget was presented on 1 February 2024

Lok Sabha elections were to be held in April, May this year, so the government presented the interim budget on 1 February. Nirmala had focused her budget on the poor, women, youth and Annadaata i.e. farmers.

Hon’ble President of India, on the recommendation of Government of India, has approved the proposal for summoning of both the Houses of Parliament for the Budget Session, 2024 from 22nd July, 2024 to 12 August, 2024 (Subject to exigencies of Parliamentary Business). Union Budget,…

— Kiren Rijiju (@KirenRijiju) July 6, 2024

Full budget will be tabled

After the election results, the full budget of the new government is to be placed in the House. Earlier on February 1, the government had presented the interim budget. Which was of Rs 44.90 lakh crore. In this, Rs 11.11 lakh crore was kept as capital expenditure. According to experts, the size of the government's budget may increase further this time. In the interim budget, the Finance Minister had announced to continue the plan of giving fifty years interest-free loan to the states for capital expenditure this year as well. A total of Rs 1.3 lakh crore has been allocated for this.

Nirmala will create a new record, Morarji Desai had presented it six times in a row

As soon as she presents the budget on July 23, Nirmala will become the first Finance Minister of the country to do so for the seventh time in a row. Earlier, Morarji Desai had presented six consecutive budgets. However, Morarji presented the budget the most, 10 times.

After him, P. Chidambaram and Pranab Mukherjee presented the budget 9 times, Yashwant Rao Chavan, CD Deshmukh and Yashwant Sinha presented the budget 7 times. Manmohan Singh and T. Krishnamachari have presented the budget 6 times.

• 1. First of all, the Finance Ministry issues a circular and asks all ministries, states, union territories, autonomous institutions to prepare estimates for the new year. Apart from giving estimates for the new year, they also have to give details of the expenditure and income of the previous year.
• 2. After receiving the estimate, the top officials of the Central Government examine it. There is an in-depth discussion on this between the officials of the concerned ministries and the expenditure department. After this, the data is sent to the Finance Ministry with recommendations.
• 3. After considering all the recommendations, the Finance Ministry allocates revenue to the departments for their expenditure. The Department of Revenue and Economic Affairs contacts the representatives of farmers and small businessmen and foreign institutional investors to understand the situation in depth.
• 4. In the pre-budget meeting, the Finance Minister meets the concerned parties to know their proposals and demands. These include representatives of the states, bankers, agricultural scientists, economists and representatives of employee organizations. After the pre-budget meeting is over, the Finance Minister takes the final decision on all the demands. Before the budget is finalized, the Finance Minister also talks to the Prime Minister.
• 5.Halwa ceremony is held a few days before the budget is presented. Halwa prepared in a big pan is distributed among the staff of the Finance Ministry. With this, the printing process of the budget begins. The officers and support staff involved in the process remain in the ministry till the budget is presented. The budget for this financial year was not printed and its soft copy was given to the members of Parliament.
• 6.The Finance Minister presents the general budget in the Lok Sabha. Till 2016, it was presented on the last day of February. From 2017, it started being presented on February 1 every year. This year, for the first time, all the budget documents were made available on Union Budget mobile.

What is full and interim budget? What is the difference between them?

The Union Budget is the annual financial account of the country. In other words, the budget is an estimated statement of the government's earnings and expenditure for a particular year.

Through the budget, the government tries to decide to what extent it can spend in the coming financial year as compared to its earnings. The government has to present the budget at the beginning of every financial year. The period of financial year in India is from 1 April to 31 March.

The interim budget provides funds to the government to run the country until the decision of general elections is taken and the full budget is announced after the formation of a new government. The term interim budget is not official. Officially it is called Vote on Account.