Budget 2024 will see many historic economic policies, will be a futuristic one: President Murmu at Parliament

The upcoming Union Budget will see India undertaking many historic economic policies and reforms will be undertaken at a faster pace, President Droupadi Murmu said in her Parliament address.

"India is contributing 15 per cent to the global economy. In the upcoming sessions, this government is going to present the first budget of this term. This budget will be an effective document of the government's far-reaching policies and futuristic vision," Murmu said as she addressed a joint sitting of the Lok Sabha and Rajya Sabha.

Along with big economic and social decisions, many historic steps will also be seen in this budget," the President said.


Finance Minister Nirmala Sitharaman is expected to announce the Budget in the second half of July 2024, though, the dates have not been made public yet.
"The Lok Sabha 2024 elections are being talked about globally, they are seeing that India has elected a stable government for the third consecutive time," Murmu said. "People of India are sure that only my (Modi) government can fulfill their aspirations," she added.

This is the first Lok Sabha session following the general elections where the National Democratic Alliance (NDA) secured 293 seats, while the INDIA bloc won 234 seats. The Bharatiya Janata Party (BJP), despite being the largest party, fell short of a majority, securing only 240 seats on its own.

The first session of the 18th Lok Sabha began on Monday and the 264th session of the Rajya Sabha will begin on June 27. As per Article 87 of the Indian Constitution, the President must address a joint session of Parliament at the commencement of the first session following each general election of the Lok Sabha. Additionally, the President addresses both Houses at the start of the first session of Parliament every year.

The government outlines its programmes and policies through the President's address. It also highlights the steps taken by the government the previous year and spells out priorities for the upcoming year.