In her seventh consecutive budget presentation, the Honorable Finance Minister Nirmala Sitharaman outlined the government led by Prime Minister Modi’s clear goals for its third term in office: a fiscal consolidation roadmap and a framework for medium-term economic interventions that prioritize employment, skill development, MSMEs, and the middle class.
This budget emphasizes a commitment to fiscal consolidation with a target fiscal deficit of 4.9% for 2024–25 and a predicted decline in the debt-to-GDP ratio. It is the first since the BJP-led NDA was re-elected in June. It addresses inequality through tax changes, strikes a balance between fiscal restraint and increased spending on necessary developmental expenses, and has a strong emphasis on infrastructure, agriculture, and job creation. MSMEs are supported and development led by women receives particular focus.
CareEdge Budget Analysis offers concise summaries and insights while demystifying the budget’s intricacies.