Budget is a financial estimation according to which the income & expenditures are made. The Union Budget is made by the upcoming financial year in which economic income and expenditure will be mentioned by the Finance Minister. The government of India has to announce their scheme and budget which is going to be run by the government for the upcoming year with their expected expenditure required for that scheme will be mentioned by the financial minister of India on every 23 or 24 July 2024 for the assessment year. The preparation of the budget will start in December & January for the upcoming Union Budget 2024-2025. In this article we will discuss Union Budget 2024-25 Expected Tax Slab, Union Budget 2024 Release date.
Union Budget 2024
The financial minister Nirmala Sitaraman is going to announce a budget for the upcoming year of 2024. In this budget she will mention all the economical expenditure for the assessment year. Last year 2023, SMT Sitaraman announced the Saptarishi which was the seven top priorities of the assessment year 2023. These seven priorities are the seven pillars of this saptarishi. These seven priorities are financial sector, Green Growth, unleashing the potential, Infrastructure & Investment, Inclusive Development, reaching the last mile, youth power. The upcoming Union Budget 2024 will be announced by the financial minister Nirmla Sitaram on 23 or 24 July 2024 at 11:00 AM IST. All Indian citizens are very excited for the upcoming Union Budget 2024 as they are expecting that the government will announce some more beneficial schemes, programs and priorities for every citizen. According to the India top experts the government will try to control the Rajstave Ghata in this assessment year.
Union Budget 2024-2025 Release Date
| Name Of the article | Budget 2024 |
| Year | 2024 |
| Announced by | Financial MInister |
| Present finance Minister | Nirmla Sitaraman |
| Announced on | 23 or 24 July 2024 at 11:00 AM IST |
| Announce in | Assembly |
| Category | News |
| Official Website | indiabudget.gov.in |
Union Budget 2024 Expected Tax Slab
It is expected that in this new Union Budget 2024-2025 Expected Tax Slab will be 5 similar to the budget of 2023. It is expected that the tax limit exemption will be increased by the finance minister upto 3.5 lakhs. According to the new budget 2024 it is expected that all the individuals have to pay Rs. 0 as tax upto the Rs. 3.5 lakh income earned by them in the assessment year. All the individuals who earned Rs. 3.5 lakhs to 6.5 Lakhs had to pay 5% tax of their total taxable income for the financial year. Ll the individual who earned Rs. 7 lakhs to 9.5 lakh in the financial year has to pay 10% tax on total taxable income of that financial Year and who earned Rs. 9.5 lakh to 13 lakh has to pay 15%, all individuals who earned Rs. 13 aks to Rs. 16 lakhs to pay 20% , and Rs. 16 lakhs and above has to pay 30% tax on there total earning of the financial year.
| Earning | Tax Rate (Expected) |
| Upto the Rs. 3.5 lakh | Nil |
| Rs. 3.5 lakhs to 6.5 Lakhs | 5% |
| Rs. 7 lakhs to 9.5 lakh | 10% |
| Rs. 9.5 lakh to 13 lakh | 15% |
| Rs. 13 aks to Rs. 16 lakhs | 20% |
| Rs. 16 lakhs and above | 30% |
Union Budget 2024 Expected Release date
The Union Budget 2024 is expected to be released on 23 or 24 July 2024 at 11:00 AM IST. The Union Budget will be released by the finance minister of India. Nirmala Sitharaman will announce the budget in Indian assembly at 11 AM which will be live for the citizens. The Union Budget 2024-25 will be in effect upto July, 2024 due to the upcoming election of India. It is expected that in this budget the government will try to launch a scheme for the people of India so that they can get more votes. This budget will affect the upcoming election so everyone is very excited for this Union Budget 2024-2025.
indiabudget.gov.in 2024-25 PDF Download
| Union Budget 2024-25 PDF | Check Here |
FATs On Union Budget 2024
When will the Union Budget 2024-25 be announced?
The Union Budget 2024-25 will be announced on 23 or 24 July 2024 at 11:00 AM IST.
Who will announce the Union Budget 2024?
The finance minister Nirmala Sitaraman will announce the Union Budget 2024.Â
Where will the Union Budget 2024-2025 be announced?
In the Indian assembly the Union Budget 2024-2025 will be announced.
I am Ravindra, a passionate and dedicated educational content writer. With a strong background in education and a deep understanding of various subjects, I have the ability to simplify complex concepts and present them in a way that is easy to understand. Whether it’s writing articles, blog posts, or educational materials, Ravindra’s writing style is clear, concise, and engaging, making learning a fun and enjoyable experience. My expertise extends across a wide range of topics, including science, mathematics, history, literature, and more. By conducting thorough research and staying up-to-date with the latest educational trends, Ravindra ensures that the content produced is accurate, relevant, and meets the needs of the target audience.