Odisha Minister Anticipates Interim Budget as Prelude to Main Movie Post-Elections

Odisha Minister Anticipates Interim Budget as Prelude to Main Movie Post-Elections

VoM News Desk | February 1, 2024 | 11:57 AM IST | Breaking News, India, Odisha | Follow on Google News

Odisha Minister Anticipates Interim Budget as Prelude to Main Movie Post-Elections

Odisha Minister Anticipates Interim Budget as Prelude to Main Movie Post-Elections

Odisha Minister Pratap Keshari Deb shared high expectations for the Interim Budget 2024-25, labeling it as a trailer for the main movie post-elections. Emphasizing the state’s investment potential, he called for substantial funding in the port, industrial corridor, and power sectors. Deb highlighted the demand for railway infrastructure development and anticipated investments in Odisha’s resource-rich state. He expressed optimism that the Interim Budget would set the stage for the full budget post-general elections.

Union Cabinet Approves Interim Budget Ahead of Presentation

The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Interim Budget 2024, scheduled for presentation by Finance Minister Nirmala Sitharaman. This interim budget will address financial needs until a new government is formed post-Lok Sabha polls. Sitharaman, in her sixth budget as Finance Minister, visited President Droupadi Murmu ahead of the presentation.

Budget Session Commences with President’s Address

The Budget Session of Parliament began with President Droupadi Murmu’s address to a joint sitting of Lok Sabha and Rajya Sabha. The President highlighted India’s economic resilience, growing 7.5% in consecutive quarters during 2023. Sitharaman’s interim budget will cater to financial needs until a new government is in place, with a full budget expected later.

Indian Economy Projected to Grow Close to 7% in 2024-25

The Ministry of Finance projects India’s economy to grow nearly 7% in the financial year 2024-25, maintaining its position as the fastest-growing major economy. The last full budget proposed a 33% increase in capital expenditure outlay to Rs 10 lakh crore in 2023-24, indicating significant investment in economic development.

Expectations for Infrastructure Development in Odisha and Beyond

Minister Pratap Keshari Deb anticipates substantial investments in infrastructure, including the port, industrial corridor, power, and railway sectors in Odisha. He views the Interim Budget as a precursor to the main budget post-elections, hoping it addresses the state’s demands and contributes to its development.

VoM News Desk

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