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Union Finance Minister Nirmala Sitharaman to present interim budget today
Interim Budget
Photo Courtesy: UNI

Union Finance Minister Nirmala Sitharaman to present interim budget today

| @indiablooms | 01 Feb 2024, 09:24 am

Union Finance Minister Nirmala Sitharaman will present the interim budget on Thursday, months ahead of the Lok Sabha polls.

This is the final budget of the second tenure of PM Narendra Modi-led government.

What is an interim budget?

In the election year, the government presents the interim budget ahead of the polls.

In it, the government's expenses and revenues for a short period are presented.

What is Union Budget?

It is the annual financial statement that estimates the costs and expenses of the government in the financial year.

According to "Indian Economy – A Review," India is projected to become a $5 trillion economy in the next three years, with the potential to reach $7 trillion by 2030. The report also anticipates India outpacing the global economy by achieving a GDP growth rate exceeding 7.2% in FY24, while the global economy struggles to surpass a 3% growth rate.

Projections indicate a consistent 7% growth for the Indian economy in 2024, marking the third consecutive year. Additionally, India currently holds the third position in global fintech economies, trailing only the UK and the USA.

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