New Delhi: Finance Minister Nirmala Sitharaman will present the highly anticipated Union Budget on July 23. President Droupadi Murmu approved a proposal on Saturday to summon both houses of Parliament between July 22 and August 12. This will be the first budget presented by Prime Minister Narendra Modi-led Government since it was re-elected for a record third term earlier this year.

“President Droupadi Murmu (on the recommendation of the Government) has approved the proposal for summoning both the Houses of Parliament from July 22 to August 12. Union Budget 2024-2025 will be presented in Lok Sabha on July 23,” read an update shared by Union Minister Kiren Rijiju.

The President had earlier indicated that the upcoming Budget would be marked by several ‘historic’ steps and carry ‘major social and economic decisions. Sitharaman had presented an interim budget in February ahead of the Lok Sabha elections.

This will be first full session of Parliament after new members took oath in first session of 18th Lok Sabha held from June 24 to July 2 following election results.

The upcoming Budget gains additional significance in light of assertions made by PM Modi about ‘writing new chapters of bold decisions’ during his third term.

The interim budget presented in February saw Sitharaman lower the FY25 fiscal deficit target to 5.1% of the GDP. The Government had announced no changes in the tax slabs in both old and new regime.