Finance minister Nirmala Sitharaman to present interim budget for FY 2024-25

• Finance Minister Nirmala Sitharaman to present the budget for FY 2024-25 on February 1
• Budget is 'interim' as the government faces a general election in April-May
• Traditional pre-budget 'halwa' ceremony initiates a 'lock-in' period for officials to maintain confidentiality until the budget's tabling in the Lok Sabha

Finance Minister Nirmala Sitharaman is gearing up to present the budget for the Financial Year 2024-25 on February 1. Marking the final annual financial statement of the BJP-led government's second term under Prime Minister Narendra Modi, the traditional pre-budget 'halwa' ceremony took place last week, initiating a 'lock-in' period for officials involved in budget preparation to maintain confidentiality until its presentation in the Lok Sabha. Noteworthy is the interim nature of this budget, given the impending general election in April-May, with the full budget slated for presentation in July by the incoming government. In adherence to India's financial calendar, the fiscal year commences on April 1 and concludes on March 31 the following year.

Amrit Acharya, CEO & Co-founder at Zetwerk said, “India's manufacturing moment is now; and we need to seize it with a 25-year vision. We stand at a pivotal juncture for Indian manufacturing. With unprecedented tailwinds and favorable policy support received from the Government of India, the time is ripe to chart a bold 25-year vision. We must go beyond 'Make in India' and forge a self-reliant ecosystem through R&D investment, cutting-edge clean technologies, and robust skilling programs. We also feel that innovation isn't confined to age. To truly unlock our potential, we must bridge the gap between established manufacturers and new-age companies through a level playing field. By collaborating and leveraging their combined experience and agility, India can achieve higher growth in manufacturing and become a factory to the world, thus securing not just economic growth, but a brighter future for all.”

Parliamentary Affairs Minister Pralhad Joshi will hold a meeting with the floor leaders of political parties in both houses of Parliament before the start of the upcoming Budget Session.