Union budget to be presented in Parliament on July 23; middle class expects income tax relief

New Delhi: Finance Minister Nirmala Sitharaman, who has presented five full budgets and one interim budget to date, is set to make history when she presents her seventh consecutive budget on July 23.

“President of India, on the recommendation of Government of India, has approved the proposal for summoning of both the Houses of Parliament for the Budget Session 2024 from July 22, 2024 to August 12, 2024 (subject to exigencies of Parliamentary Business). Union Budget 2024-25 will be presented in Lok Sabha on July 23, 2024”, said Kiren Rijiju’s social media post in platform ‘X’, formerly Twitter.

Common people in Jammu & Kashmir and across the country are keenly waiting for the budget and the announcement of any potential individual income tax relaxations in view of high cost of living today, especially food inflation. However, in view of the Union government’s own tax revenue targets, it remains to be seen if Ms Sitharaman can afford any income tax sops in the budget for the country’s struggling middle class.