The Indian Union Budget 2024

Hon'ble Finance Minister presented India's Union Budget for financial year 2025-26 yesterday. With a coalition government and this being the 11^th Budget for the present NDA government, it was expected that the Budget would provide direction including key priority areas and developmental plans for next 5 years and tax laws were likely to be continued to maintain stability.

The Budget delivered on both these counts, though it did more to achieve tax rationalization, promote simplification and improve tax administration. In my view, the Budget also focused on redistribution of wealth from the rich to middle and lower-income groups. This article provides a quick glance through the key budget proposals and its likely impact on the Indian economy.