India's President, Draupadi Murmu, addressed the joint session of Parliament on Wednesday, marking the start of the Budget Session 2024. PM Narendra Modi was acknowledged by the President for implementing the women's reservation bill, and the President praised the efforts of the Narendra Modi administration. She also praised the construction of the Ram Temple and Jammu and Kashmir's elimination of Article 370. Today’s budget session will begin with the vote on the account, enabling the government to cover expenses until the Lok Sabha election and a regular session.
Today on 1 February 2024, Union Finance Minister Nirmala Sitharaman is scheduled to deliver the financial year's budget for 2024. The customary pre-budget "halwa" ceremony was organized last week marking the beginning of the "lock-in" period for budget preparation personnel who need to keep everything confidential until the document is presented to the Lok Sabha.
The general elections are all set to be held in April or May this year, so the Budget 2024 will be "interim" in nature. The elected government after the elections will present the entire budget in July. The Indian fiscal year commences on April 1 and concludes on March 31 of the following year.
