Finance Minister Nirmala Sitharaman will release the interim Budget for 2024 on February 1. The Centre is anticipated to make adjustments to its social schemes, notably the Pradhan Mantri Kisan Samman Nidhi.
While no big changes are expected in the interim budget, the government may enhance the PM Kisan scheme payout by 50% this year, from ₹6000 to ₹9000 per year, said The Economic Times.
According to the ET article, analysts predict that increasing the dividend under the PM Kisan scheme for farmers would be one of three significant social sector announcements made during the Union Budget 2024.
Furthermore,Further, economists also said during a poll that Centre’s housing scheme – PM Awas Yojana – will be one of the prime focuses of the government during the Budget 2024 presentation.
According to last year’s budget, the outlay of PM Kisan scheme was ₹60,000 crore. This is expected to see a 50 percent increase this year. Apart from welfare schemes, the Centre is expected to continue the push for capital expenditure, as private sector investment is yet to pick up across sectors, the report added.
Over the previous three years, the government prioritized spending on highways, ports, and power plants, increasing capital expenditure by over a third yearly. These industries are also likely to enjoy growth during the next Budget 2024 session.
All-party meeting prior of the Budget 2024
An all-party conference has been arranged ahead of the interim Budget 2024 presentation, which will be held on Tuesday by Minister of Parliamentary Affairs Pralhad Joshi.
It is usual procedure before of each session for party leaders to emphasize the problems they intend to discuss in Parliament, while the administration provides them with an overview of its agenda and demands their cooperation.
It must be noted that FM Sitharaman will only be presenting the interim Budget in the Parliament on February 1, while the complete Union Budget for the upcoming fiscal year will be presented after the Lok Sabha elections and the appointment of the new cabinet.
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