Finance Minister Nirmala Sitharaman is set to make history on July 23, 2024, as she presents her seventh consecutive full Budget, a feat unprecedented in India's fiscal landscape. This milestone surpasses the record previously held by Morarji Desai.



The Budget session, as announced by Parliamentary Affairs Minister Kiren Rijiju, will commence on July 22 and conclude on August 12. This marks a significant moment in Prime Minister Narendra Modi's third term, particularly as it's the first Budget under his leadership where the BJP doesn't hold a majority on its own.

Following the interim Budget presented in February due to the Lok Sabha elections, anticipation for this full Budget has been building. President Droupadi Murmu's recent joint address further fueled expectations, hinting at "historic steps" and an acceleration of reforms. She emphasized that the Budget would reflect the government's far-reaching policies and future-oriented vision, promising major economic and social decisions.

For the middle and salaried classes, hopes are high for potential changes in the income tax structure that could increase disposable income. This comes amidst broader expectations for the Budget to address various economic challenges and opportunities.

The political backdrop for this Budget session is notably different from previous years. The recent general elections, results of which were announced on June 4, saw the INDIA alliance secure 232 seats, limiting the BJP to 240. However, the NDA maintains a comfortable majority with 293 MPs.

The preceding special session of the 18th Lok Sabha was marked by heated debates. Under the new Leader of Opposition, Rahul Gandhi, a reinvigorated opposition raised several contentious issues. These included the NEET paper leak scandal, the situation in Manipur, discussions on the Emergency period, the Agnipath scheme, and allegations of constitutional undermining by the ruling party.

As the Budget session approaches, many of these issues are likely to resurface, potentially leading to spirited discussions and debates. The session promises to be a crucial period for both governance and political dynamics in India's evolving democratic landscape.