No major announcement expected in budget 2024: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman said that forthcoming Union Budget, scheduled for February 1, 2024 might t feature any "spectacular anuncements." Sitharaman suggested that substantive anuncements would likely be deferred until regular budget in July, hinting that upcoming budget might serve as a "vote on account."

"vote on account" essentially functions as an interim budget, permitting current government to seek parliamentary sanction for necessary expenses to sustain operations until a new government assumes power. This interim measure is intended to bridge financial gap until a comprehensive budget can be formulated.

finance minister will present an interim budget on February 1, 2024, for 2024-25 fiscal, beginning April 1, 2024, in Lok Sabha.

"Emerging markets and Global South need techlogy-driven instruments to make ir ecomies transparent and well-governed and to make sure that everybody benefits from governance. India’s FinTech revolution, which showcases itself through payment revolution happening digitally, has shown that it is possible to have inclusion, better governance, and save money through techlogy," minister said at CII Global Ecomic Policy Forum 2023. 

Speaking about digital techlogy, Sitharaman said that invations have been rapidly scaled up and apted by people across sections of society. 

" digital techlogy option is one thing where Government h invested and built infra for -wher for communication, marketing, health and health service provisions or wher it was a financial tech for inclusion. It proved that t only do our invations work but have been rapidly scaled up and apted by people across sections of society," Sitharaman ded.