Finance Minister Nirmala Sitharaman is set to present the first budget of the Modi 3.0 government, with high expectations for tax relief and job creation. The Budget is anticipated to focus on infrastructure development, aligning with Prime Minister Narendra Modi’s Viksit Bharat 2047 Vision, while maintaining fiscal prudence.
This occasion marks a historic moment as Sitharaman will present her seventh consecutive Budget, surpassing Morarji Desai, who presented six budgets. She was seen holding a tablet wrapped in a ‘bahi khata’-styled pouch containing the Budget documents before leaving for Parliament.
The focus areas of the Budget are likely to include:
- Tax Relief: Addressing public and corporate demands for easing the tax burden.
- Job Creation: Implementing measures to boost employment across various sectors.
- Infrastructure Development: Significant investments to enhance the nation’s infrastructure in line with long-term development goals.
- Fiscal Prudence: Ensuring that the Budget balances growth initiatives with fiscal responsibility.
The official announcements during the Budget presentation will provide detailed insights into these anticipated measures.
While there is anticipation for some tax relief measures aimed at boosting middle-class consumption, experts suggest that the budget is unlikely to focus solely on populism. Instead, it will likely balance populist measures with a strong economic growth strategy.
