Finance Minister Nirmala Sitharaman delivered her seventh consecutive Budget in Parliament on Tuesday (July 23). The Budget for 2024-25 is being viewed as the Modi 3.0 government's strategic roadmap on economic policies for the next five years.

Up to now, announcements have been directed towards politically significant states like Andhra Pradesh and Bihar, both governed by the National Democratic Alliance (NDA) member parties. Significantly, Rs 15,000 crore has been allocated for the development of Amaravati, the new capital of Andhra Pradesh, alongside other notable announcements.

To boost revenue generation, an increase in the Long Term Capital Gains tax has been announced, rising from 10% to 12.5%. This adjustment is likely prompted by the surge in equity investments and increased profit booking by investors.

Additionally, schemes have been unveiled for tribal communities, and the government has pledged to introduce mechanisms to ensure ongoing credit flow to Micro, Small, and Medium Enterprises (MSMEs) experiencing challenges.

Yesterday, Nirmala Sitharaman presented the Economic Survey of the preceding financial year in Parliament on the first day of the Monsoon Session, which raised many questions.

The occasion marks the first Budget presented by a Narendra Modi-led Bharatiya Janata Party (BJP) without a majority in the Lok Sabha, highlighting increased scrutiny on its focus on key states governed by coalition partners.