Nirmala Sitharaman To Present Interim Budget, Top Things To Know!

The finance minister Nirmala Sitharaman is all set to declare the interim budget 2024 on February 1, 2024. Here are some key highlights that you should know, check out.

What is interim budget?

The interim budget is seen as a stop-gap financial plan during an election year, aimed at meeting the expenditure or financial needs of a current government till the time new government is formed.

How it will help in Jobs Creation?

In the upcoming budget, the government will be announcing some incentives to increase investment in rural sector in order to create jobs in rural areas.

how budget will affect Capital Expenditure?

To drive into economic growth, the government is likely to maintain momentum on increasing the capital expenditure, especially in the infrastructure sector in upcoming budget.

What affect will be on Fiscal deficit?

Despite the poll pressure, the finance minister may further cut the fiscal deficit to 5.3 percent from the India’s GDP (Gross Domestic Product). The government will meet FY24 commitment tp reduce the fiscal deficit to 5.9 percent.

What will be the Consumption?

In order to boost agricultural sector, the finance minister may announce some measures that will further increase the consumption demand.

How Social Sector Schemes will work?

The government will allocate higher funds for social schemes funds in the forthcoming budget. As per the media resources, tax buoyancy may provide it with more funds.

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