Sources indicate Nirmala Sitharaman may present Union Budget in Parliament on July 22.
Nirmala Sitharaman is poised to make history as the first finance minister to present seven consecutive Union Budgets, surpassing the record set by Morarji Desai, who presented six budgets in a row. This milestone underscores her enduring role in shaping India’s fiscal policies and economic strategies over the years.
Earlier this week, Parliamentary Affairs Minister Kiren Rijiju announced that the first session of the 18th Lok Sabha is scheduled to commence on June 24, with proceedings expected to conclude on July 3. This inaugural session marks a pivotal moment as newly elected members of the Lower House will take their oath, and the process of electing the Speaker will commence.
President Droupadi Murmu is slated to address a joint sitting of the Lok Sabha and the Rajya Sabha on June 27. During this address, President Murmu is likely to outline the government’s strategic roadmap for the upcoming five years, highlighting key legislative priorities and policy agendas.
The initial three days of the session will be dedicated to the swearing-in of newly elected leaders and the crucial task of electing the Speaker of the House, a significant procedural step in the functioning of the Parliament.
Simultaneously, the 264th Session of the Rajya Sabha will convene from June 27 to July 3, running parallel to the proceedings in the Lok Sabha. Prime Minister Narendra Modi is expected to introduce his council of ministers to Parliament shortly after President Murmu’s address on June 27.
Following the President’s speech, Prime Minister Modi will engage in the debate on the Motion of Thanks in both Houses of Parliament. This debate allows members to express their appreciation for the President’s address while providing an opportunity for robust discussion on the government’s policies and initiatives.
Nirmala Sitharaman’s upcoming presentation of the Union Budget holds significant weight amidst these parliamentary proceedings. With her seventh consecutive budget presentation, she not only solidifies her tenure but also showcases her stewardship in navigating India’s economic landscape through periods of growth and challenges.
As the first woman to hold the finance minister’s office for such an extended period, Sitharaman has steered the country’s financial policies with a focus on inclusive growth, infrastructure development, and fiscal prudence. Her budgets have been instrumental in addressing key sectors such as agriculture, healthcare, education, and infrastructure, aiming to bolster economic resilience and promote sustainable development.
In preparation for the upcoming budget session, Sitharaman and her team are likely to engage in extensive consultations with stakeholders, industry experts, economists, and policymakers to craft a budget that addresses the evolving needs of the Indian economy post-pandemic. The budgetary allocations and policy announcements are expected to reflect priorities aimed at reviving growth, boosting employment, and enhancing India’s global competitiveness.
The continuation of Sitharaman’s tenure as the finance minister signals continuity and stability in economic policy formulation, crucial for investor confidence and economic revival. Her stewardship during the challenging times of the COVID-19 pandemic and subsequent recovery phases has been marked by proactive fiscal measures and policy interventions aimed at mitigating the socio-economic impact on vulnerable sections of society.
Amidst expectations and challenges, Sitharaman’s seventh budget presentation will be closely watched for its implications on various sectors, market reactions, and the overall economic trajectory. The budget session itself will serve as a platform for parliamentary scrutiny, debate, and consensus-building on critical national issues, underscoring the democratic ethos of India’s legislative process.
In conclusion, as Nirmala Sitharaman prepares to deliver her seventh consecutive Union Budget, she stands at the helm of India’s fiscal policy with a legacy that mirrors her commitment to steering the country towards sustainable economic growth and prosperity. Her tenure as finance minister has been defined by resilience, innovation, and a steadfast focus on economic reforms that resonate with India’s aspirations on the global stage.