Finance Minister Nirmala Sitharaman, during her Interim Budget 2024 presentation, emphasized that the BJP-led Central government has transformed the concept of social justice into a governance model. She stated that social justice was previously a political slogan but has now been integrated into the government’s policies, leading to effective governance.
Sitharaman highlighted the practical implementation of secularism, reduction in corruption, and prevention of nepotism under the current government’s approach. She noted that the saturation approach, covering all eligible people, represents the true and comprehensive achievement of social justice.
The Finance Minister underscored the government’s commitment to ensuring equal opportunities for all citizens, regardless of their social standing. She emphasized transparency, assurance that benefits reach all eligible individuals, and the government’s focus on outcomes rather than outlays for achieving socioeconomic transformation.
In terms of fiscal policies, Sitharaman set the fiscal deficit target for 2024-25 at 5.1% of GDP. The government aims to bring the fiscal deficit below 4.5% of GDP by the financial year 2025-26. Additionally, she announced that there would be no changes in tax rates for direct and indirect taxes, including import duties, providing relief to citizens.
The Finance Minister concluded her budget presentation with a positive outlook, expressing the government’s determination to continue fostering inclusive growth and development. The Interim Budget 2024 is expected to undergo thorough scrutiny and debates in the coming days in Parliament as stakeholders assess its potential impact on the nation’s economic trajectory.
