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Showing posts with the label Fiscal Consolidation

Highlights from Finance Minister Nirmala Sitharaman's Interim Budget 2024

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Highlights from Finance Minister Nirmala Sitharaman's Interim Budget 2024 On February 1, Union Finance Minister Nirmala Sitharaman presented her sixth budget, marking a crucial financial roadmap ahead of the upcoming general elections. This interim budget for 2024 showcased a strategic focus on youth and women empowerment while adhering to fiscal consolidation principles and sustaining capital expenditure. Key Focus Areas: 1. Youth and Women Empowerment:    A notable emphasis was placed on initiatives aimed at empowering the youth and women. The budget included provisions and schemes designed to support education, skill development, and entrepreneurship, contributing to broader societal and economic growth. 2. Fiscal Consolidation:    Despite the focus on welfare programs, fiscal consolidation remained a priority. Finance Minister Sitharaman lowered the fiscal deficit target for the fiscal year 2024-25 to 5.1% of the GDP, demonstrating a commitment to responsible fin...