Union Finance Minister Nirmala Sitharaman is set to present the Union Budget 2024-25 in Parliament during the third week of July. This will be the first budget following the National Democratic Alliance’s (NDA) third consecutive victory, led by the Bharatiya Janata Party (BJP), in the 2024 Lok Sabha elections.

Fiscal deficit and borrowing

• Fiscal deficit: Revised down to 5.8% of GDP from the previous target of 5.9%. The fiscal deficit for 2024-25 is estimated at 5.1%.
• Gross borrowing: Estimated at ₹14.13 lakh crore.
• Net borrowing: Projected at ₹11.75 lakh crore for FY25.

Defense allocation

• Defense budget: Increased by 4% to ₹6.2 lakh crore, up from ₹5.94 lakh crore in FY24.

Tax structure and revenue

• Tax structure: No changes to direct or indirect taxes.
• Tax benefits: Extensions for start-ups and investments by sovereign wealth funds or pension funds until March 31, 2025.
• Revenue receipts: Estimated at ₹30 lakh crore, up from ₹26.99 lakh crore in the previous fiscal year.

Social and economic initiatives

• Mudra yojana loans: 30 crore loans given to women entrepreneurs.
• STEM education: Women and girls now constitute 43% of enrolment in STEM courses.
• PM Awas Yojana: Over 70% of houses allotted to women in rural areas.
• Cervical cancer vaccination: Encouragement for vaccination of girls aged 9-14.

Capital expenditure

• Capex outlay: Increased by 11% to ₹11.11 lakh crore (3.4% of GDP).
• Rail bogies: Conversion of 40,000 normal rail bogies to Vande Bharat Standards to enhance passenger safety and comfort.

Housing initiatives

• PM Awas Yojana (Grameen): Targeting to build an additional two crore houses over the next five years.
• New housing scheme: Aimed at helping the middle class buy or build houses.

Lok Sabha Speaker Om Birla on Wednesday accepted the no-confidence motion against the government moved by Congress MP Gaurav Gogoi on behalf of opposition parties of I.N.D.I.A alliance. After Gogoi moved the motion, the Speaker asked about the number of members supporting the motion. He admitted the motion and said the time of the debate will be decided later. The House resumed its normal functioning after the Speaker accepted the demand for no-confidence motion. Opposition members expressed their opinion on the bills being introduced by the government. The two Houses have seen repeated adjournments since the commencement of the monsoon session of Parliament on July 20. Gogoi represents the Kaliabor constituency in Assam and is an MP from the northeast region. Bharat Rashtra Samithi, which has nine members in Lok Sabha, also gave a no-confidence motion notice against the government.

Union Minister Arjun Ram Meghwal said the government is “ready” for every situation. “Let the No Confidence Motion come, Government is ready for every situation. We do want a discussion on Manipur…Before the commencement of the session, they wanted a discussion. When we agreed, they brought up the issue of Rules. When we reached an agreement on Rules, they brought in the new issue that the PM come and initiate discussion. I think these are all excuses…” Meghwal told ANI. Gaurav Gogoi had earlier in the day submitted a notice for no-confidence motion against the government in the Lok Sabha.

Manipur issue at the forefront

The decision to bring a no-confidence motion was taken at a meeting of opposition I.N.D.I.A alliance parties held on Tuesday. As many as 26 Opposition had earlier come together naming their alliance as I.N.D.I.A. Opposition MPs said that they know the numbers are in favour of the government in Lok Sabha but no-confidence motion is a way to seek reply from Prime Minister Narendra Modi on various issues including the violence in Manipur. “This No Confidence Motion is a political move with a political purpose – a political move which will bring results…The No Confidence Motion will compel him (Prime Minister) to come to the Parliament. We need a discussion on the issues of the country, especially on Manipur, inside the Parliament. Forget the numbers, they know the numbers and we know the numbers..,” CPI MP Binoy Viswam said.

Manickam Tagore, Congress Whip in Lok Sabha said INDIA alliance is together and it had proposed the idea of no-confidence motion. Yesterday it was decided. Today, Congress party’s leader is moving it. We wanted to break the arrogance of Mr Modi. He is behaving as an arrogant person – not to come to the Parliament and make a statement on Manipur…We feel that it is our duty to use this last weapon,” he said. AAP MP Raghav Chadha said that some parliamentary procedures are used to have a long-duration discussion and to compel the government to give a reply.

“Many a time in India’s Parliamentary history, critical instruments of debate, dialogue and discussion within Parliament are exercised. Regardless of the outcome of those instruments and motions, they are exercised with the sole objective of a long-duration discussion on an important issue subsequent to which the PM of India is compelled to come to Parliament and respond to the issues raised by the people and the Members of the Lok Sabha,” he said.

“I think these parliamentary instruments actually strengthen India’s democracy and must be exercised time again and again to pressurise the government to come before the Lok Sabha and answer the questions.”

Leaders of several opposition parties on Monday staged a protest in the Parliament complex demanding that Prime Minister Narendra Modi make a statement in the House on the Manipur issue. Holding placards and banners that read “INDIA for Manipur” and “INDIA demands PM’s statement on Manipur”, the opposition parties raised slogans against the government in front of Mahatma Gandhi’s statue in Parliament complex.

Speaking to reporters, Leader of Opposition in Rajya Sabha Mallikarjun Kharge said it is the prime minister’s duty to make a comprehensive statement in Parliament on Manipur violence. “It is shameful that the prime minister is making a statement outside the House when Parliament is in session. It is his duty to make a comprehensive statement inside Parliament on Manipur violence,” the Congress leader said.

It is shameful that the Prime Minister is making a statement outside the House, when Parliament is in session. It is his duty to make a comprehensive statement inside the Parliament on Manipur violence.

Therefore, we are requesting the Chairman of Rajya Sabha and the Speaker of… pic.twitter.com/oSvB3ZcD8u

— Mallikarjun Kharge (@kharge) July 24, 2023

“We are requesting the Chairman of Rajya Sabha and the Speaker of Lok Sabha that the PM should make a statement on the situation in Manipur. We want a discussion under Rule 167 but the Modi government wants a short duration discussion under Rule 176 for half an hour.We want under Rule 267 under which there can also be voting,” he said.

The prime minister should first make a statement and then we will have a discussion under Rule 267, he said The Modi government and the BJP cannot run away from its constitutional duty and answerability on Manipur, Kharge added.

The government has agreed to hold a short-duration discussion on the Manipur issue with the Home Minister replying to it, but the opposition is adamant on its demand for the prime minister’s statement first. Both Lok Sabha and Rajya Sabha have failed to transact any business during the Monsoon Session amid the stalemate between the opposition and the government over the Manipur issue.