India’s Finance Minister Nirmala Sitharaman is set to present the full Union Budget for FY 2024–25 on July 23, following the formation of the new government. This will be her seventh consecutive budget, and expectations are running high as it will set the tone for India’s development roadmap under the "Viksit Bharat 2047" vision.
💡 Key Expectations from Budget 2024–25
🏠 1. Tax Relief for the Middle Class
Middle-income taxpayers are hoping for:
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Higher exemption limits
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Revised income tax slabs
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Increased Section 80C deductions
These measures could boost consumption and disposable income, especially in urban and semi-urban areas.
🏗️ 2. Massive Push for Infrastructure
The government is expected to ramp up capital expenditure in:
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Roads and highways
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Railways and ports
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Affordable housing
A focus on multi-modal logistics, backed by the PM Gati Shakti master plan, could further enhance connectivity and job creation.
🌱 Viksit Bharat 2047: The Vision Behind the Budget
This budget will be closely aligned with “Viksit Bharat 2047” — India’s ambitious vision to become a developed economy by 2047, marking 100 years of independence.
🔋 Major Focus Areas:
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Green Energy: Incentives for solar, wind, hydrogen, and EV sectors
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Artificial Intelligence (AI): Funding for R&D, skill development, and AI startups
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Make in India 2.0: Enhanced support for domestic manufacturing and exports
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Digital Public Infrastructure: Expansion of platforms like UPI, ONDC, and Aadhaar stack
“The 2024–25 budget is likely to be transformative, laying the foundation for an inclusive, tech-driven economy,” say policy analysts.
📈 Economic Context: Budget in a Time of Growth
India remains one of the fastest-growing major economies, with GDP expected to grow around 7% in FY 2024–25. The budget will be critical in:
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Maintaining fiscal discipline
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Containing inflation
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Attracting foreign investment
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Supporting job creation and rural demand
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🗣️ Final Thoughts
As India sets its sights on becoming a developed nation by 2047, Budget 2024–25 could be a major stepping stone. With emphasis on middle-class empowerment, tech innovation, and sustainable growth, this budget is expected to reflect the aspirations of a New India.
All eyes will be on July 23, 2024, when Finance Minister Nirmala Sitharaman outlines the government’s strategy to transform India into a Viksit Bharat — not just in vision, but in reality.
📅 Updated: May 21, 2025
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