Budget 2024: Center says ready to discuss any issue; Here's what to expect
Union Finance Minister Nirmala Sitharaman will present the Interim Budget 2024 on February 1.
Interim budget 2024: On the eve of the presentation of the interim budget 2024, the central government has said that it is ready to discuss everything relevant regarding the interim budget 2024. Notably, the budget will be presented on the floor by Union Finance Minister Nirmala Sitharaman on February 1. from the house in the presence of Prime Minister Narendra Modi. Moreover, the Center also convened a full meeting before the budget.
The session will be the last of the current Lok Sabha before the Assembly elections are announced. Defense Minister and Deputy Leader in the Lok Sabha Rajnath Singh, Parliamentary Affairs Minister Joshi and his deputy Arjun Ram Meghwal represented the government at the meeting.
Congress's K Suresh, TMC's Sudip Bandopadhyay, DMK's TR Baalu, Shiv Sena's Rahul Shewale, Samajwadi Party's ST Hasan, JD(U)'s Ram Nath Thakur and TDP's Jayadev Galla were among the leaders present were at the meeting at the Parliament House complex.
Congress MP Pramod Tiwari, who represented Leader of Opposition in Rajya Sabha Mallikarjun Kharge, said he raised the issue of “violent attack” on the Bharat Jodo Yatra led by Rahul Gandhi in Assam and the state government's restrictions on it stated.
There is an “unwritten dictatorship” in the country, he said, accusing the central government of misusing investigative agencies like the CBI and the ED to target opposition leaders like Jharkhand Chief Minister Hemant Soren and RJD supremo Lalu Prasad. Tiwari said he raised these issues after consulting with opposition parties.
It is a common practice to convene a meeting before each session, where leaders of different parties highlight the issues they want to raise in Parliament, and the government offers them a glimpse into the agenda and seeks their cooperation.
This time it will be a short session, between January 31 and February 9, during which Finance Minister Nirmala Sitharaman will table an interim budget ahead of the Lok Sabha elections. The new government will present the full budget. The session will begin with President Droupadi Murmu's speech to a joint meeting of both Houses.
Interim budget 2024: this is what you can expect
“In the short term, budget expectations will influence the market. The market does not expect major changes in taxation on the capital market. Therefore, any such proposal will have an impact on the market,” Geojit Financial Services Chief Investment Strategist VK Vijayakumar said in a report by news agency IANS.
Deepak Jasani, Head of Retail Research at HDFC Securities, said in the report that the Nifty ended the first day of the week on January 29 with the biggest single-day gain since December 4, with heavyweight Reliance Industries contributing the most to the gains.
Handy with 1.80 percent
At the close, Nifty was 1.80 percent or 385 points higher at 21737.6. Nifty rose sharply on January 29 and formed a long bull candle. 21851-21970 could be the next resistance band for the Nifty while 21482 could act as support.
The buildup ahead of the bill's vote appears to have begun. This upward movement can be used to selectively reduce weight in individual stocks that have risen too quickly, he said. BSE Sensex is down 223 points at 71,718.40. Bajaj Finance is down 4 percent, ITC is down 1.7 percent and Reliance Industries is down 1.5 percent.
(With input from agencies)