Budget likely in mid-July. FM Nirmala Sitharaman to kickstart consultation process next week

The Centre is likely to present the full Budget for 2024-2025 by mid July, sources told BT TV. The Finance Ministry will start its pre-consultation Budget meetings with various ministries and stakeholders by June 17, the sources said.

Parliamentary Affairs Minister Kiren Rijuju in a post on X said that the first session of the 18th Lok Sabha will be held from June 24 to July 3. This session will cover the oath/affirmation of newly elected members, the election of the speaker, the President's address, and subsequent discussions.

This schedule suggests that the first session will not adjourn indefinitely but will take a break before the second part begins. 

Sources suggest that the second part will start with the presentation of the Economic Survey for Fiscal Year 2023-24, followed by the full Budget for FY25.

Although the central government has not disclosed specifics about the upcoming Budget, it is expected to include details on the utilization of the RBI dividend of ₹2.11 trillion. The government will likely continue its reform agenda and may explore opportunities for additional expenditures.

On February 1, Finance Minister Nirmala Sitharaman presented the Interim Budget, maintaining a fiscal consolidation path of below 4.5% by 2026 and 5.1% in FY2025. 

However, the government may consider revising this target upward during its pre-consultation meetings next week.