President Murmu budget address- Budget session 2024 update

The budget for the fiscal year 2024-25 is expected to be unveiled on February 1 by Nirmala Sitharaman, the Union Finance Minister. During the second term of the BJP-led government led by Prime Minister Narendra Modi, this will be the final annual financial statement. The 'lock-in' period for officials involved in budget preparation to maintain confidentiality until the document's tabulation in the Lok Sabha commenced last week when the traditional pre-budget 'halwa' ceremony was conducted. President's speech in the budget session is the key to fruitful discussions.

The Lok Sabha and the Rajya Sabha lifted the suspensions of fourteen members of the opposition on Tuesday. A total of 132 members of Parliament were penalized during the Winter session last month. This decision grants them the opportunity to attend India Budget 2024 President Murmu's inaugural address to both Houses in the newly constructed Parliament building, as well as the Budget session that will commence on Wednesday.

The budget for this year is classified as "interim" due to the upcoming general election scheduled for April-May of this year. July will mark the presentation of the complete budget by the incoming administration. The fiscal year in India commences on April 1 and concludes on March 31 of the subsequent year.

President's address to both houses:

On Wednesday at 11 a.m., President Droupadi Murmu will address a joint sitting of the Lok Sabha and Rajya Sabha to initiate the forthcoming Budget Session of Parliament. This session, expected to conclude prior to the Lok Sabha elections in April-May of this year, will span a duration of ten days and comprise eight sittings. During this session, starting with the President's speech in the budget session on Thursday, February 1, Finance Minister Nirmala Sitharaman is scheduled to present the interim budget.