The full budget under Modi 3.0 government is likely to be presented on July 22, reported The Economic Times. As per the report, the budget will prioritise addressing challenges in the agriculture sector, generating employment, maintaining the momentum of capital expenditure, and boosting revenue growth to adhere to the fiscal consolidation trajectory.
The budget is also expected to focus on simplifying GST and reducing tax compliance burdens.
Prime Minister Narendra Modi had instructed his team to develop a 100-day plan and the upcoming budget may have components pertaining to it. The Economic Times also reported that the government plans to extend its production-linked incentive (PLI) schemes to encompass more sectors that generate significant employment, such as the leather industry.
Finance Minister Nirmala Sitharaman's previous budget was a vote on account, which focussed on economic policies that foster growth, facilitate inclusive development, improve productivity, and create opportunities for various sections, while noting that it will pay utmost attention to the eastern region, including the states of Bihar, Jharkhand, Chhattisgarh, Odisha, and West Bengal, to make them growth engines as part of the goal to make India a developed country by 2047.
This will be Finance Minister Nirmala Sitharaman's 7th budget presentation in a row.
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