Prime Minister Modi and Finance Minister Sitharaman Present Union Budget 2024-25
Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman attended a Union Cabinet meeting to approve the Union Budget 2024-25. The meeting took place in Parliament, with other key ministers like Amit Shah, Rajnath Singh, and Pralhad Joshi also in attendance.
Earlier today, Sitharaman met with President Droupadi Murmu before heading to Parliament. This marks Sitharaman’s seventh consecutive budget, surpassing the late Moraji Desai’s record of six consecutive budgets. The budget is expected to focus on changes in the income tax structure and improving the ease of doing business in India.
Minister of State for Finance Pankaj Chaudhary mentioned that the budget would follow Prime Minister Modi’s mantra of ‘Sabka Saath Sabka Vikas.’ Union Minister Pralhad Joshi added that the budget would accelerate the country’s economic growth.
The budget session of Parliament began on July 22 and will conclude on August 12. The Economic Survey, presented by Sitharaman, predicts a 7% growth rate for the Indian economy in the medium term. The survey highlights the need for collaboration between the Union Government, State Governments, and the private sector to achieve sustained growth.
Doubts Revealed
Prime Minister Modi -: Prime Minister Modi is the leader of India. He makes important decisions for the country.
Finance Minister Sitharaman -: Finance Minister Sitharaman is the person in charge of managing India’s money and budget.
Union Budget -: The Union Budget is a plan for how the government will spend and earn money in the coming year.
Union Cabinet -: The Union Cabinet is a group of top leaders in the government who help make important decisions.
Income tax changes -: Income tax changes mean the government might change how much money people have to pay from their earnings.
Ease of doing business -: Ease of doing business means making it simpler for people to start and run businesses.
Economic Survey -: The Economic Survey is a report that tells us how well the country’s economy is doing.
7% growth rate -: A 7% growth rate means the economy is expected to grow by 7%, which is a good sign of progress.
Union Government -: The Union Government is the central government of India that makes decisions for the whole country.
State Governments -: State Governments are the governments of individual states in India, like Maharashtra or Tamil Nadu.
Private sector -: The private sector includes businesses and companies that are not run by the government.
