As the Modi government begins its third term, its focus areas include boosting consumption by offering tax benefits to the middle class. Priorities also encompass agriculture, capital expenditure, infrastructure development, and manufacturing enhancements.
Finance Minister Nirmala Sitharaman will make history by presenting her seventh consecutive budget for 2024-25, surpassing former Prime Minister Morarji Desai’s record.
The government’s first budget of its third term aims to reinforce fiscal consolidation post-pandemic while pursuing long-term goals of a developed India, or Vikshit Bharat.
India, a major player in global growth, expects the budget to address key trends like global offshoring, digitalization, and energy transition.
Over the past decade, the Modi administration has invested heavily in infrastructure, reduced corporate taxes, and launched subsidy schemes to boost export-focused manufacturing, stabilizing the macroeconomy and lifting stock markets. However, issues like job creation, income inequality, and rural distress remain.
