Budget 2024-25: Will it Reflect Economic Survey Cues or Follow Previous Budget Themes?
As Union Finance Minister Nirmala Sitharaman presents the Union Budget for 2024–25, all eyes are on how it will align with the themes highlighted in the Economic Survey 2023–24 or if it will echo the maiden budgets of Prime Minister Narendra Modi’s previous terms. The Modi government’s first Budget after returning to power in 2019 with an even bigger mandate than in 2014 was by and large incremental. Economic Survey Insights The Economic Survey 2023–24, released Monday, outlines significant challenges and key themes that are expected to shape India’s economic trajectory. The survey points to the need for: Inflation Targeting : Revising the Reserve Bank of India’s framework to exclude food inflation. Private Sector Investment : Encouraging private sector investment to sustain economic momentum. Employment and Skills : Tackling unemployment and enhancing skill development. MSME Growth : Easing regulatory burdens and improving access to finance for MSMEs. Agricultural Reform : Aligning pr...