Budget 2024: The date of the general budget has been announced. Finance Minister Nirmala Sitharaman will present the budget in the Lok Sabha on July 23. The budget session of Parliament will be held from July 22 to August 12.
Announcing the dates of the budget session, Parliamentary Affairs Minister Kiren Rijiju posted on social platform X, “The Hon’ble President has approved the proposal to convene both the Houses of Parliament for the Budget Session, 2024 from 22nd July, 2024 to 12th August, 2024 on the recommendation of the Government of India.”
Union Parliamentary Affairs Minister Kiren Rijiju said that the general budget will be presented in the Lok Sabha on July 23. Finance Minister Nirmala Sitharaman will present the full budget of the Modi 3.0 government. Earlier, she had presented the interim budget in Parliament on February 1 this year.
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After forming the government for the third time at the center, the focus of the Modi government in this budget will be on the agriculture sector, employment, maintaining the pace of capital expenditure and increasing revenue growth. Apart from this, simplifying GST and reducing the burden related to tax compliance is also expected to be on top of the government’s agenda.
Taxpayers hope for relief
In this budget, salaried people and taxpayers can get a big relief. It is being speculated that along with increasing the scope of income tax exemption, the government can also give an additional tax exemption of Rs 50,000 to salaried people.
Tax experts say that the government can double the standard deduction, giving a big relief to the salaried people. Currently, a standard deduction of Rs 50,000 is available in every financial year. This is given in lieu of the expenses of the salaried people and there is no need to submit any document for this.
