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Explore essential budget terms to grasp India's 2025 economic strategies and fiscal policies, crucial for navigating the budget's impact on the economy.

Union Budget 2025: 30 Key terms to decode Nirmala Sitharaman’s speech

Delve into essential budget terms to understand India's 2025 economic strategies and fiscal policies as outlined by Finance Minister Nirmala Sitharaman.

Understanding key budget terminologies is vital to comprehend India's economic strategies and fiscal policies as revealed in the 2025 Union Budget.

As Finance Minister Nirmala Sitharaman gears up to present the Union Budget on February 1, 2025, all eyes are on the economic policies and allocations that will shape the nation&rsquo;s financial roadmap. While the Union Budget has a direct impact on every citizen&rsquo;s daily life, it often comes with complex terminology that can be challenging to grasp. To simplify the process, here are 30 key terms you need to know to understand the budget and its implications better.
Annual Financial Statement: The Union Budget outlines the government&rsquo;s estimated receipts and expenditures for the upcoming financial year, detailing priorities for various sectors.
 Finance Bill: This bill includes proposed tax amendments, such as changes to income tax, GST, and customs duties, and becomes law upon Lok Sabha approval.
 Gross Domestic Product (GDP): The total value of goods and services produced within a country, used as a key indicator of economic health.
 Inflation: The rise in prices caused by demand-supply mismatches, impacting purchasing power and economic stability.
 Direct and Indirect Taxes: Direct taxes, like income tax, are levied on earnings, while indirect taxes, like GST, apply to goods and services.
 Goods and Services Tax (GST): India&rsquo;s unified indirect tax system, with multiple slabs ranging from 0% to 28%, based on the necessity or luxury of goods and services.
 Customs Duty: A tax on imports and exports, aimed at regulating trade and protecting domestic industries.
 Excise Duty: A tax on the production of certain goods, now limited to fuel and alcohol after GST implementation.
 Cess and Surcharge: Additional taxes levied for specific purposes (e.g., health, education) or on high-income earners.
 Long and Short-Term Capital Gains: Profits from asset sales, taxed differently based on the holding period.
 Fiscal Deficit: The gap between government expenditure and revenue, excluding borrowings, indicating the need for additional funding.
 Revenue Deficit: The shortfall when revenue expenditures surpass revenue receipts, reflecting fiscal health.
 Primary Deficit: Fiscal deficit minus interest payments on past borrowings, highlighting current borrowing needs.
 Current Account Deficit: Occurs when import spending exceeds export income, affecting foreign exchange reserves.
 Balance of Payments: Tracks all financial exchanges between India and the global market, influencing currency valuation.
 Capital Budget: Includes borrowings (capital receipts) and infrastructure investments (capital expenditures) for long-term growth.
 Revenue Budget: Covers day-to-day expenses, including salaries, pensions, and interest payments.
 Disinvestment: Selling government stakes in public sector enterprises to generate funds.
 Budget Estimates: Projections for the government&rsquo;s financial operations at the start of the fiscal year.
 Revised Estimates: Updated figures based on mid-year adjustments to spending and revenue collection.
 Excess Grants: Additional funds sought by the government to cover unplanned expenditures.
 Consolidated Fund of India: The government&rsquo;s main account for revenue and expenditure, requiring Parliamentary approval for withdrawals.
 Contingency Fund: Emergency funds used for unforeseen crises, with retroactive Parliamentary approval.
 Public Account: Manages funds from schemes like PPF and Sukanya Samriddhi Yojana, where the government acts as a custodian.
 Appropriation Bill: Authorises government spending from the Consolidated Fund of India for the financial year.
 Subvention: Financial aid provided by the government, often to subsidise loans for specific sectors like agriculture.
 Plan and Non-Plan Expenditure: Categories of government spending, distinguishing programmatic investments from routine operational costs.
 Monetary Policy: Managed by the RBI, it regulates money supply and interest rates to control inflation and stimulate growth.
 Fiscal Policy: The government&rsquo;s taxation and spending strategies to influence economic growth and stability.
 Macro and Microeconomics: Macro studies national economic trends like GDP and inflation, while micro focuses on individual and firm-level decisions impacting supply and demand.&nbsp;
Understanding these 30 key terms is crucial as the Union Budget 2025 is set to outline the government's financial vision for the upcoming fiscal year. With the budget presentation just days away, staying informed is more important than ever.

Invest Smart | Budget impact: Investment insights and strategic moves for investors

Invest Smart | Chairman & CEO of PPFAS on budget impact & investment strategies

Avni Raja from Editorji spoke to Neil Parikh, Chairman &amp; CEO of PPFAS Mutual Fund, about the budget's impact, market caution, and potential pockets of opportunity

Budget 2024 came with multipe changes on the taxation front, particularly a surprise hike of long -term capital gains tax from 10% to 12.5%. Meanwhile, despite the LTCG tax hike, the current bull run seems to be showing no signs of abating.&nbsp;&nbsp; Avni Raja from Editorji spoke to Neil Parikh, Chairman &amp; CEO of PPFAS Mutual Fund, about the budget's impact, market caution, and potential pockets of opportunity. IMPACT OF LTCG TAX HIKE TO 12.5% Speaking about the impact of the LTCG tax hike to 12.5%. Parikh stated, "I don't think the LTCG hike was out of the blue. The market absorbed the LTCG tax hike, and we've all taken it in our stride." EVOLUTION OF INDIA'S RETAIL INVESTOR Regarding the evolution of India's retail investor, Parikh said that investors have matured significantly. He further adds that investors now view equity as a means for achieving long-term goals, and the culture of systematic investment plans (SIPs) has really taken hold. He expressed hope that SIP money remains consistent and committed. ''Although a bear market has not been seen for a long time, confidence in the bull market remains high'' Parikh added. ADVICE FOR FIRST-TIME INVESTORS&nbsp; Talking about for first-time investors, Parikh said that the advice is clear: don't invest with the intention of making a quick buck. ''We're currently in a market that isn't cheap, so be cautious about where you invest''. Additionally, He also said that it's important not to get jittery during short-term volatility.&nbsp;

Finance Minister Nirmala Sitharaman presented the Union Budget of 2024 -25. Nilesh Lele, CASMB explains the announcements for MSMEs while speaking to Avni Raja.

Budget 2024: Nilesh Lele, CASMB On The Announcements For MSMEs | Avni Raja

Finance Minister Nirmala Sitharaman presented the Union Budget of 2024 -25. Nilesh Lele, CASMB explains the announcements for MSMEs while speaking to Avni Raja.

Finance Minister Nirmala Sitharaman presented the Union Budget of 2024 -25. Nilesh Lele, CASMB explains the announcements for MSMEs while speaking to Avni Raja.&nbsp;

Finance Minister Nirmala Sitharaman presented the Union Budget of 2024 -25. Vishal Dhawan and Kanan Bahl decode the tax changes in conversation with Avni Raja.

Budget 2024: Vishal Dhawan And Kanan Bahl Decode The Tax Changes | Avni Raja

Finance Minister Nirmala Sitharaman presented the Union Budget of 2024 -25. Vishal Dhawan and Kanan Bahl decode the tax changes in conversation with Avni Raja.

Finance Minister Nirmala Sitharaman presented the Union Budget of 2024 -25. Vishal Dhawan and Kanan Bahl decode the tax changes in conversation with Avni Raja.&nbsp;

Finance Minister Nirmala Sitharaman presented the Union Budget of 2024 -25. Ms. Aarti Raote, Partner, Deloitte India (Tax) explains the taxation changes and the impact this budget will have on investors with Avni Raja.

Budget 2024: Aarti Raote, Deloitte India Explains Taxation Changes & Likely Impact | Avni Raja

Finance Minister Nirmala Sitharaman presented the Union Budget of 2024 -25. Ms. Aarti Raote, Partner, Deloitte India (Tax) explains the taxation changes and the impact this budget will have on investors with Avni Raja.

Finance Minister Nirmala Sitharaman presented the Union Budget of 2024 -25. Ms. Aarti Raote, Partner, Deloitte India (Tax) explains the taxation changes and the impact this budget will have on investors with Avni Raja.&nbsp;

Finance Minister Nirmala Sitharaman presented the Union Budget of 2024 -25 today. Economists Shubhada Rao and Suman Chowdhury Decode Fineprint and explains what impact will it have on the Indian Economy with Avni Raja.

Budget 2024: Economists Shubhada Rao and Suman Chowdhury Decode Fineprint | Avni Raja

Finance Minister Nirmala Sitharaman presented the Union Budget of 2024 -25 today. Economists Shubhada Rao and Suman Chowdhury Decode Fineprint and explains what impact will it have on the Indian Economy with Avni Raja.

Finance Minister Nirmala Sitharaman presented the Union Budget of 2024 -25 today. Market expert Ambareesh Baliga explains why stock market slipped in conversation with Avni Raja.

Budget 2024: Market Expert Ambareesh Baliga On Why Stock Market Slipped | Avni Raja

Finance Minister Nirmala Sitharaman presented the Union Budget of 2024 -25 today. Market expert Ambareesh Baliga explains why stock market slipped in conversation with Avni Raja.

Finance Minister Nirmala Sitharaman presented the Union Budget of 2024 -25 today. Niranjan Hiranandani &amp; Anuj Puri reacts on announcements for realty while in conversation with Avni Raja.

Budget2024: Niranjan Hiranandani & Anuj Puri On Announcements For Realty | Avni Raja

Finance Minister Nirmala Sitharaman presented the Union Budget of 2024 -25 today. Niranjan Hiranandani &amp; Anuj Puri reacts on announcements for realty while in conversation with Avni Raja.

Finance Minister Nirmala Sitharaman presented the Union Budget of 2024 -25. Deputy CEO Feroze Azeez of Anand Rathi Wealth Ltd discusses the impact this budget will have on investors with Avni Raja.&nbsp;

Budget 2024: Feroze Azeez, Anand Rathi Wealth Ltd On Impact On Investors | Avni Raja

Finance Minister Nirmala Sitharaman presented the Union Budget of 2024 -25. Deputy CEO Feroze Azeez of Anand Rathi Wealth Ltd discusses the impact this budget will have on investors with Avni Raja.&nbsp;

The NPS is a defined contribution scheme, where employees contribute 10 per cent of their basic salary, matched by a 14 per cent contribution from the government

Budget 2024: Govt may offer 50% pension for central govt employees enrolled with NPS

The NPS is a defined contribution scheme, where employees contribute 10 per cent of their basic salary, matched by a 14 per cent contribution from the government

With the upcoming Budget 2024 just weeks away, the government is considering a proposal to provide central govt employees enrolled with National Pension System or NPS with 50% of their final pay drawn as a pension. This initiative aims to address concerns regarding pension payouts as per Times of India report. The report further adds that despite this potential change, the government assures that the NPS will continue to offer attractive returns for long-term investors, particularly those who remain invested for 25-30 years and were recruited after 2004. The proposal follows an announcement by Finance Minister Nirmala Sitharaman and the formation of a committee led by Finance Secretary T V Somanathan to review the NPS and its benefits. The NPS is a defined contribution scheme, where employees contribute 10 per cent of their basic salary, matched by a 14 per cent contribution from the government.

As of the fourth quarter of FY25, India had more than 180 million 5G users, with Reliance Jio hosting 108 million and Airtel having 72 million 5G subscribers

Union Budget 2024: Focus on boosting India's 5G and 6G development

As of the fourth quarter of FY25, India had more than 180 million 5G users, with Reliance Jio hosting 108 million and Airtel having 72 million 5G subscribers

The upcoming Union Budget is likely to include initiatives aimed at boosting India's 5G ecosystem and allocating funds for further research and development in 6G, as indicated by officials from the Department of Telecommunications in a report by Business Standard. Officials also said that 5G infrastructure will serve as the foundation for developing 6G technology, which promises a new spectrum of solutions. Also read/watch - <a title="Godrej Properties sells over 2,000 homes worth Rs 3,150 crore in Bengaluru" href="https://www.editorji.com/business-news/godrej-properties-sells-over-2-000-homes-worth-rs-3-150-crore-in-bengaluru-1719907662771">Godrej Properties sells over 2,000 homes worth Rs 3,150 crore in Bengaluru</a> Consequently, they anticipate the finance minister to outline the Bharat 6G vision in her speech and introduce corresponding initiatives. As of the fourth quarter of FY25, India had more than 180 million 5G users, with Reliance Jio hosting 108 million and Airtel having 72 million 5G subscribers. Despite this growth, both telecom operators have faced challenges in monetizing 5G services, as pricing remains comparable to 4G services.

Finance Minister Nirmala Sitharaman is expected to announce the Union Budget 2024 on either July 23 or July 24

Budget 2024: Will medicine prices come down? Here are the expectations of the healthcare industry

Finance Minister Nirmala Sitharaman is expected to announce the Union Budget 2024 on either July 23 or July 24

As the finance ministry prepares for the upcoming budget in July, healthcare industry leaders are anticipating policy reforms, price adjustments, and major scheme announcements.
Sources cited by Financial Express indicate that the Center is expected to address rising medicine prices and strengthen India&rsquo;s medical equipment manufacturing units. Also read/watch - <a title="SEBI writes to government to allow fractional ownership of shares" href="https://www.editorji.com/business-news/sebi-writes-to-government-to-allow-fractional-ownership-of-shares-1719562605719">SEBI writes to government to allow fractional ownership of shares</a> Additionally, there is potential for increased budget allocations for pharmaceutical research and development, which could result in more affordable medicines. The report further adds that a significant boost in the pharma sector&rsquo;s budget is also anticipated to ensure access to affordable life-saving drugs for diseases such as cancer and HIV. Finance Minister Nirmala Sitharaman is expected to announce the Union Budget 2024 on either July 23 or July 24.

The budget is expected to be presented by Finance Minister Nirmala Sitharaman on July 23 or 24

Budget 2024: Real estate sector awaits for key policy changes in upcoming full-budget

The budget is expected to be presented by Finance Minister Nirmala Sitharaman on July 23 or 24

India&rsquo;s real estate sector, contributing over 7-8 percent to the country's GDP and serving as a major driver of employment and economic growth, is anticipating significant momentum in the upcoming Union Budget for FY25. With rising demands for housing, office spaces, and commercial zones, the industry is looking forward to crucial policy changes under the Modi 3.0 administration. Also read/watch - <a title="Budget 2024: Here are the top 5 expectations of agricultural sector" href="https://www.editorji.com/business-news/budget/budget-2024-here-are-the-top-5-expectations-of-agricultural-sector-1719398409843">Budget 2024: Here are the top 5 expectations of agricultural sector</a> As per the Financial express report, Real estate players are expecting policy reforms to boost investment from both foreign and domestic sources, revisions in affordable housing caps, changes in taxation rules for property purchases, reductions in home loan interest rates, and industry status for real estate, among other incentives. The budget is expected to be presented by Finance Minister Nirmala Sitharaman on July 23 or 24.

The agriculture sector, facing challenges like climate change and inflation, expects 6% growth in FY 2024-25. Key expectations include boosting agri exports to $100 billion, enhancing rural infrastructure, and increasing budget allocation to ₹800 crore

Budget 2024: Here are the top 5 expectations of agricultural sector

<h2>The agriculture sector, facing challenges like climate change and inflation, expects 6% growth in FY 2024-25. Key expectations include boosting agri exports to $100 billion, enhancing rural infrastructure, and increasing budget allocation to ₹800 crore</h2>

The full budget for the current fiscal year is expected to be presented in the third week of July. Finance Minister Nirmala Sitharaman has been holding pre-budget consultations with representatives of various sectors in June.
Agriculture sector which is one of the key sectors, is expected to grow at a rate of 6% in the current fiscal 2024-25. Mint quoted experts and mentioned that the farm and agri sector has grappled with strenuous challenges such as drought, adverse weather conditions, the impact of climate change, and inflationary pressures.
<h3>Key expectations of Agri sector</h3>
<ul>
<li>Higher export: Mint quoted &nbsp;PHD Chamber of Commerce and Industries and said that the exports of agri and allied products should be increased to the level of $100 billion in the next three years from the current level of around $25 billion.</li>
<li>Long term credit for farmers:&nbsp;As per the industry body, there is a need to strengthen access to credit for long-term loans to enhance growth and productivity in the sector and farm incomes.</li>
<li>Strong rural infrastructure:&nbsp;Focusing on building rural infrastructure, including roads, bridges, storage facilities, cold chains, and veterinary services, can significantly reduce post-harvest losses and improve market access for farmers in remote areas is also expected.&nbsp;</li>
<li>Minimize impact of climate change:&nbsp;As per Mint, as many as 80% of marginal farmers in India have suffered crop losses due to adverse climatic events over the past five years. Hence the sector is expecting an adaptation strategy to promote climate-resilient agricultural practices, diversify livelihoods, and improve access to financial services and technical advice</li>
<li>Budget Allocation: The sector is also expecting an enhancement in the budget allocation for the Agricultural and Processed Food Products Export Development Authority from ₹80 crore to ₹800 crore to boost farm exports. &nbsp;</li>
</ul>
Also watch: <a href="https://www.editorji.com/business-news/budget/union-budget-2024-industry-leaders-urge-for-tax-inflation-relief-1718890562911">Union Budget 2024: Industry leaders urge for tax, inflation relief</a>

The FY25 budget may see a 5-7% increase in capital expenditure and welfare subsidies over the interim budget. The interim budget had allocated Rs 11.11 lakh crore, and industries recommend a 25% rise in spending

Full Budget 2024: Centre may increase capital expenditure and welfare spending

<h2>The FY25 budget may see a 5-7% increase in capital expenditure and welfare subsidies over the interim budget. The interim budget had allocated Rs 11.11 lakh crore, and industries recommend a 25% rise in spending</h2>

The upcoming full budget for FY25 may see increased capital expenditure and welfare subsidy allocations compared to the estimates projected in the Interim Budget, reported Business Today. As per the report, the government is mulling to increase the estimate for capital expenditure by a further 5-7% over the estimate made in the interim budget.
<h3>Capital Expenditure in Budget</h3>
In the interim budget that was presented in February, the Centre had allocated Rs 11.11 lakh crore, representing an 11% increase over budget estimate for the previous fiscal year, and a 16.9% rise over the actual spending.
&ldquo;Capital expenditure has been our focus and discussions are underway to see what can be done,&rdquo; a person aware of the matter told Business Today.
This is also in line with the expectations of industries who have sought increased capital expenditure by the Centre. In a recent press conference, Chairman and Managing Director, ITC Ltd and President, Confederation of Indian Industry Sanjiv Puri suggested that the government should consider raising spending on this account by 25% this fiscal year.
He mentioned the windfall dividend of Rs 2.1 trillion from the Reserve Bank of India and robust tax receipts as supporting factors. He went on to say that an increase in spending on asset creation, combined with an anticipated rise in private investments, would help India achieve 8% real GDP growth for the second consecutive year.
<h3>Welfare Spending</h3>
The Business Today report further added that the government is considering up to a 5% increase in various subsidy allocations. The Interim Budget had allocated Rs 4.1 lakh crore for subsidies, 7% lower than the revised estimate of Rs 4.41 lakh crore for 2023-24.&nbsp;
Also watch: <a href="https://www.editorji.com/business-news/budget/union-budget-2024-industry-leaders-urge-for-tax-inflation-relief-1718890562911">Union Budget 2024: Industry leaders urge for tax, inflation relief</a>

Union Budget 2024: Industry leaders urge for tax, inflation relief

The full Budget 2024-25 is expected to be presented in Parliament next month

&nbsp;India Inc on Thursday asked Finance Minister Nirmala Sitharaman to reduce tax burden on common man, continue capital expenditure, and announce steps to contain food inflation in the upcoming Union Budget.
During pre-Budget consultation with Sitharaman, the industry leaders and associations also urged the government to focus more on infrastructure development with a view to maintaining the economic growth momentum. Also read/watch -<a title=" Rupee falls 17 paise to hit 2-month low of 83.61; hits an all-time low of 83.68 in early trade " href="https://www.editorji.com/business-news/rupee-falls-17-paise-to-hit-2-month-low-of-83-61-hits-an-all-time-low-of-83-68-in-early-trade-1718888818820"> Rupee falls 17 paise to hit 2-month low of 83.61; hits an all-time low of 83.68 in early trade</a>
The industry leaders also laid stress on boosting the MSME (Micro, small, and medium enterprises) sector, considered a backbone of the Indian economy and main employment generator.
President of industry body CII Sanjiv Puri put forth eight points for consideration for the finance minister.
These include relief in income tax at the lower end of income slabs, streamlining of employment inked incentive schemes like Production Linked Incentive (PLI), and promoting ease of doing business. CII also made recommendations for agriculture and rural development.
Recommendations of Ficci centred around capex drive, innovation and tax simplification.

The 2024-25 Budget is likely to lay out Modi 3.0 government's economic agenda
&nbsp;

Budget 2024: Sitharaman to meet Industry stakeholders for pre-budget talks on June 20

The 2024-25 Budget is likely to lay out Modi 3.0 government's economic agenda
&nbsp;

Finance Minister Nirmala Sitharaman is likely to hold pre-budget consultations with industry chambers on June 20, sources said.
The budget for 2024-25 fiscal is likely to be presented in Parliament in the second half of July.
Industry sources said the pre-budget consultation with Sitharaman would be preceded by a meeting with Revenue Secretary Sanjay Malhotra on June 18.
The 2024-25 Budget is likely to lay out Modi 3.0 government's economic agenda.
Also read/watch - <a title="Navi Mumbai Airport will be operational from March 2025, 70% work completed, says Civil Aviation MoS" href="https://www.editorji.com/business-news/navi-mumbai-airport-will-be-operational-from-march-2025-70-work-completed-says-civil-aviation-mos-1718602388679">Navi Mumbai Airport will be operational from March 2025, 70% work completed, says Civil Aviation MoS</a>
The finance minister will have to look at measures to boost growth without hurting inflation as well as look for resources to meet the coalition government's compulsion.
The economic agenda would include steps to fast-rack reforms to make India a USD 5-trillion economy in near future and turn the country into a 'Viksit Bharat' by 2047.
The Indian economy is projected to grow 7.2 per cent in the current fiscal on the back of improving rural demand and moderating inflation, as per RBI estimates.
The Modi 3.0 government inherits a strong economy with fiscal prudence in place. Icing on the cake is a bonanza from RBI which has announced the highest-ever dividend of Rs 2.11 lakh crore for FY24.
The key policy priorities for the third term of Prime Minister Narendra Modi-led government would include dealing with stress in the agriculture sector, job creation, sustaining capex momentum and pushing revenue growth to stay on the fiscal consolidation path.
Rating agency S&amp;P has already given a thumbs up to economic policies followed by the Modi regime in the past 10 years by upgrading the sovereign rating outlook to positive. It also hinted at a possible rating upgrade in next 1-2 years provided the government sticks to its fiscal deficit roadmap.

The upcoming Modi 3.0 budget may prioritise agriculture, employment, and revenue growth, with a focus on capital expenditure. GST simplification and reduced tax compliance burdens may also be focused on the full budget

Full budget likely to be presented on July 22: Report

<h2>The upcoming Modi 3.0 budget may prioritise agriculture, employment, and revenue growth, with a focus on capital expenditure. GST simplification and reduced tax compliance burdens may also be focused on the full budget</h2>

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.
<h3>Union Budget 2024</h3>
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.
Also watch: <a href="https://www.editorji.com/business-news/union-budget-2024-25-likely-to-be-presented-in-third-week-of-july-1718192324451">Union Budget 2024-25 likely to be presented in third week of July</a>
&nbsp;

She also noted that the budget now reflects the actual workings of the finance ministry. Additionally, the budget language has been simplified to help citizens understand the changes and their implications

Budget reflects actual finance Ministry operations: FM Nirmala Sitharaman

She also noted that the budget now reflects the actual workings of the finance ministry. Additionally, the budget language has been simplified to help citizens understand the changes and their implications

Finance Minister Nirmala Sitharaman on Monday said the Modi government has reshaped the Union budget in the last 10 years from a mere record of expenditure to a strategic blueprint for equitable distribution, and stressed that the pace of reforms will continue to make India a developed nation.
In an exclusive interview with NDTV, Sitharaman also stated that the annual budget process has become more transparent, revealing how taxpayer money is allocated.
Also read/watch - <a title="Trades on Wall Street will settle in one day for the first time in 100 years" href="https://www.editorji.com/business-news/markets/trades-on-wall-street-will-settle-in-one-day-for-the-first-time-in-100-years-1716876142942">Trades on Wall Street will settle in one day for the first time in 100 years</a>
Sitharaman said the government will continue to maximise the value and impact of hard-earned taxpayer money, ensuring it is put to the best possible use for the benefit of all.
The minister said the Modi government has prioritised transparency in its budgeting practices and numbers. Countries with transparent budgets are often viewed favourably by international bodies such as the IMF and the World Bank. This can lead to improved global trust.
She further noted that the budget now reflects the actual workings of the finance ministry. Additionally, the budget language has been simplified to help citizens understand the changes and their implications.&nbsp;&nbsp;

Finance Minister Nirmala Sitharaman on Thursday presented the Interim Budget 2024. As soon as she concluded the presentation, internet users started sharing hilarious memes and reactions

Budget 2024: these memes and reactions are here to sum up this year's budget

Finance Minister Nirmala Sitharaman on Thursday presented the Interim Budget 2024. As soon as she concluded the presentation, internet users started sharing hilarious memes and reactions

Finance Minister Nirmala Sitharaman on Thursday presented the Interim Budget 2024. As the Budget presentation concluded, several memes started flooding social media.&nbsp;
Finance Minister Sitharaman said, "Our middle class also now aspires to travel and explore. Tourism, including spiritual tourism, has tremendous opportunity for local entrepreneurship. &nbsp;To address the emerging fervor for domestic tourism, projects for port connectivity, tourism, infrastructure and amenities will be taken up on our islands, including Lakshadweep."
Many reacted to the special mention given the Union Territory of Lakshadweep.&nbsp;
Other than this, internet users also shared reactions and memes that depicted the middle-class saga post-budget. While some shared hilarious reactions about taxpayers getting annual 'Thank you' for their contributions.&nbsp;
Also watch: <a href="https://www.editorji.com/india-news/youtuber-elvish-yadav-booked-after-snake-venom-found-at-rave-party-memes-flood-internet-1699001963982">YouTuber Elvish Yadav booked after snake venom found at rave party, memes flood internet</a>

budget 2024

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