Modi 3.0 to present Union Budget on July 23

While announcing the schedule, Union Minister Kiren Rijiju on his official X handle said, “Hon’ble President of India, on the recommendation of Government of India, has approved the proposal for summoning of both the Houses of Parliament for the Budget Session, 2024 from 22nd July, 2024 to 12 August, 2024 (Subject to exigencies of Parliamentary Business). Union Budget, Kiren Rijiju (@KirenRijiju) July 6, 2024, to August 12, 2024 (subject to exigencies of Parliamentary Business).”

Union Finance Minister Nirmala Sitharaman will present the full budget of the Narendra Modi-led NDA government.

Earlier, in February, an interim budget was presented in Parliament on February 1 ahead of the Lok Sabha elections.

With the dates for the Union Budget 2024 announced, there is considerable anticipation and speculation that the Finance Minister may introduce certain benefits for taxpayers under the Modi 3.0 government.

One anticipated benefit is an increase in the standard deduction limit, which many experts believe is overdue.

The Centre is also planning to significantly boost state subsidies for rural housing in the Union Budget, with an expected increase of up to 50 percent from last year, surpassing $6.5 billion, according to news agency Reuters.