The Union Budget for the financial year 2024-25 will be presented in the Lok Sabha on July 23. The parliamentary budget session is set to take place from July 22 to August 12.

Union Minister Kiren Rijiju announced the schedule on his official X handle, stating, "Hon’ble President of India, on the recommendation of the Government of India, has approved the proposal for summoning both the Houses of Parliament for the Budget Session, 2024, from July 22, 2024, to August 12, 2024 (subject to exigencies of Parliamentary Business)."

Finance Minister Nirmala Sitharaman will introduce the complete budget for the Narendra Modi-led NDA government. An interim budget was previously presented in Parliament on February 1 ahead of the Lok Sabha elections.

With the announcement of the Union Budget 2024 dates, there are high expectations and speculations that the Finance Minister might unveil benefits for taxpayers under the Modi 3.0 government. One anticipated measure is an increase in the standard deduction limit, which many experts believe is overdue.

According to Reuters, citing two government officials, the Centre plans to significantly boost state subsidies for rural housing in the upcoming Union Budget, potentially increasing them by up to 50% from last year to surpass US$6.5 billion.