Union Finance Minister Nirmala Sitharaman on Thursday posed with her digital tablet as she headed to Parliament to present the interim budget.

She also posed for a picture outside the Ministry of Finance in the national capital along with her team before presenting her sixth straight budget, equalling the record of former Prime Minister Morarji Desai.

#WATCH | Finance Minister Nirmala Sitharaman along with her team before the presentation of the country’s interim Budget pic.twitter.com/hohpB7qtZi

— ANI (@ANI) February 1, 2024

Ms Sitharaman will present an interim budget as the Lok Sabha elections are due in April-May. The full budget will be presented by the newly-elected government, most likely in July.

Being an interim budget, major policy changes or big announcements may not be made, but expectations are still high. 

Salaried taxpayers are hoping for a change in income tax slabs, a higher standard deduction limit and a hike in exemptions under Sections 80C and 80D.

For Micro, Small and Medium Enterprises (MSMEs), the expectation is that Prime Minister Narendra Modi-led government will bring in policies to ease regulatory procedures, reduce compliance burdens and provide greater access to loans.

The Narendra Modi government is working towards making India a Viksit (Advanced) Bharat by 2047, Union Finance Minister Nirmala Sitharaman said Thursday morning as she read out the 2024 Interim Budget in a special session of Parliament. Ms Sitharaman, presenting her sixth straight account of the country’s finances, also underlined the government’s resolve to work towards an economic and social development model that is “all round, all inclusive, and all pervasive”.

“Our young country has high aspirations, pride in the present, and hope and confidence in its bright future…” the Finance Minister said as she stood up to deliver her speech.

Overall, there are muted expectations from this budget since it comes less than three months before a general election in which Mr Modi’s BJP is expected to win a third consecutive term. However, there is hope among the salaried middle class of a revision in income tax slabs and an overall anticipation the government will do something to boost job creation.

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