Expectations are high for the Union Budget 2024, which will be presented by Finance Minister Nirmala Sitharaman on February 1, 2024, in the areas of infrastructure, healthcare, education, and income tax. As the Narendra Modi administration works to maintain India’s GDP growth momentum and continue on the fiscal glide path to meet an acceptable objective for the budgetary deficit, all eyes are on the Interim Budget 2024.
With a $5 trillion GDP, India’s economy is the fastest-growing major economy in the world. It is expected to overtake the US economy as the third largest in the next few years. FM Nirmala Sitharaman’s Budget 2024 Vote On Account is anticipated to offer a route to achieve that aim.
It is anticipated that record capital expenditures on infrastructure, with a particular emphasis on roads, highways, and Indian railways, will be announced in the 2024 budget. This will continue in line with the Modi administration’s plan to use infrastructure expenditure to propel economic growth in India. It is anticipated that Indian Railways will receive a record-breaking allocation of about Rs 3 lakh crore for capital expenditures in the budget. Since 2017, the railway budget has been included in the Union Budget address rather than given separately.
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