New Delhi: The Union Budget for 2024-2025 will be presented on July 23, 2024, at 11 am in the Parliament. She has earlier on February 1 presented the Interim Budget due to the 2024 Lok Sabha elections . This will be the first Budget by the BJP-led NDA government since it was re-elected last month. President Droupadi Murmu has officially approved the budget session to begin on July 22 and continue until August 12.
This year, Finance Minister Nirmala Sitharaman will become the first finance minister in India’s history to deliver seven consecutive budgets. She will surpass the record previously held by Morarji Desai, who presented six consecutive budgets between 1959 and 1963.
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According to Article 112 of the Constitution, the government is required to present a statement of estimated income and expenses for each financial year, which runs from April 1 to March 31, to the Parliament.
Economic Survey of India is an annual document of the government. It is prepared by the Department of Economic Affairs, under the Union Ministry of Finance. It is prepared under the guidance of the Chief Economic Adviser of India.
Economic Survey of India is presented to both Houses of Parliament during the Budget Session, usually a day before the Union Budget.
The Economic Survey of India broadly covers the state of the Indian economy, fiscal developments and monetary management and external sectors.
The first Economic Survey of India was presented in 1950-51. Till 1964, the document was presented along with the Union Budget. Later, it was separated and since then presented prior to the budget announcement.
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