Parliament Budget Session 2024 Inaugurated by President Murmu, Interim Budget Presentation on Thursday

In a significant development ahead of the upcoming Lok Sabha elections, the Parliament Budget Session for 2024 commenced today. The session, set to be the final one before the polls, was inaugurated by President Droupadi Murmu. Addressing a joint sitting of the Lok Sabha and Rajya Sabha in the newly constructed Parliament building, President Murmu set the tone for a session that promises discussions on crucial issues.

Finance Minister Nirmala Sitharaman is scheduled to present the interim budget on Thursday, February 1. The interim budget, customary in an election year, addresses fiscal needs during the intervening period until a new government is formed post-Lok Sabha polls. The session is expected to conclude on February 9.

An interim budget serves as a provisional financial statement, differing from a complete annual budget. It provides a snapshot of the government’s revenue and spending for a portion of the fiscal year, managing financial obligations until a new administration introduces a comprehensive budget.

In a prelude to the session, the government engaged in an all-party meeting, signaling a cooperative stance with the Opposition. Notably, the suspension of 11 Rajya Sabha MPs from the winter session has been lifted. Parliamentary Affairs Minister Pralhad Joshi emphasized the government’s readiness to discuss every issue during the upcoming session.

Key Opposition parties have outlined their agenda for the session. Congress leader K Suresh stated that the party would focus on issues of unemployment, high inflation, agrarian distress, and the situation in Manipur. Trinamool Congress leader Sudip Bandyopadhyay urged the finance minister to include pending dues to West Bengal in the Interim Budget.

During President Murmu’s address, a broad spectrum of topics, including political, cultural, and economic aspects, is anticipated to be covered. The address is expected to highlight the government’s accomplishments during the 10-year tenure under Prime Minister Narendra Modi. Political observers are particularly keen on the announcements by Finance Minister Sitharaman preceding the polls.

Despite Parliament approving only an interim budget for the remaining government tenure, Sitharaman might present various proposals targeting different voter demographics. This move aims to underscore the government’s plans in the event of reelection and appeal to diverse voting blocs.

As the Budget Session unfolds, it promises to be a crucial juncture in shaping the narrative leading up to the Lok Sabha elections, with both the government and the Opposition gearing up for a thorough debate on pertinent issues.