Union Budget 2024 FAQs: A quick, handy and comprehensive guide of the Union Budget 2024
Union Budget 2024 FAQs: The first full budget of the BJP-led NDA government in its third successive term will be presented by Finance Minister Nirmala Sitharaman on July 23.
The government announced the dates of the budget session of Parliament which will start on July 22 and conclude on August 12.
With this upcoming Budget Presentation, Sitharaman will surpass the record set by former Prime Minister Morarji Desai, who presented five annual budgets and one interim budget between 1959 and 1964 as finance minister Sitharaman’s upcoming Budget speech would be her seventh.
Union Budget 2024 FAQs
What is the Union Budget?
The Union Budget is the annual financial statement of the Government of India, presented in the Parliament by the Finance Minister. It outlines the government’s revenue and expenditure plans for the upcoming fiscal year, which runs from April 1 to March 31.
Union Budget 2024: Date and Timings
The Union Budget 2024 will be presented on July 23 at 11:00 am. The Union Budget 2024 is all set to be presented by Union Finance Minister Nirmala Sitharaman.
How to watch the Union Budget 2024 Live Telecast?
Union Budget 2024 will be broadcast live on Sansad TV and Doordarshan. Additionally, you can stream it online via the official YouTube channels of Sansad TV and Doordarshan. The Ministry of Finance will also provide a live stream on their official website, www.finmin.nic.in
How is the Union Budget 2024 prepared?
The budget preparation involves a meticulous process in which the government outlines its financial plan for the upcoming fiscal year. It begins with the collection of economic data, revenue projections, and expenditure estimates. Various ministries submit their budget proposals, and extensive consultations occur to align priorities. The finance ministry consolidates these inputs, and the finance minister reviews and finalizes the budget. The document is then printed after the symbolic Halwa Ceremony.
How is the Union Budget 2024 Budget presented?
Like the previous few full Union Budgets, the Budget 2024 will also be delivered in paperless form. An Interim Union Budget 2024 was presented on February 1, as the country was due for general elections.
Union Budget 2024: What is halwa ceremony?
The halwa ceremony is a significant event as it also marks the beginning of lockdown at the finance ministry. This means no official is allowed to leave the ministry compound. Everyone part of the Budget team is allowed to leave only after the financial document is presented in Parliament. The printing of the Union Budget inside the basement located at the North Block has become a permanent feature since 1980.