The Union Budget session is set to start on January 31 and continue till February 9, according to reports. The Interim Budget for FY25 will be presented by Finance Minister Nirmala Sitharaman on February 1.
President Draupadi Murmu will address both houses on the opening day, setting the stage for crucial fiscal announcements.
While no major legislative overhaul is anticipated, one potential game-changer could be a doubling of the PM Kisan Samman Nidhi scheme for women farmers.
A few days ago, news agency Reuters reported that the government is considering doubling annual payout to landowning female farmers to Rs 12,000.
The plan is likely to be announced in the budget on February 1 and could cost the government an additional Rs 12,000 crore, according to sources quoted in the news agency’s report.
Unlike previous years, the upcoming budget will be an Interim Budget rather than a full one since Lok Sabha elections are due in two-three months. The ruling government presents the Interim Budget to Parliament in an election year or when there is not enough time for a full budget. The incoming government after the elections will be responsible for formulating the complete annual budget.
This year, a concise document on the state of India’s economy is expected to be presented for 2024-25 prior to the interim budget on February 1 instead of a comprehensive Economic Survey like other years.
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