Indian Finance Minister Nirmala Sitharaman is currently presenting the Union Budget in Lok Sabha. The Budget is being considered the action plan for the Modi 3.0 govt to outline a roadmap towards India's development in the next five years.

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It's time for India's Union Budget presentation today as the country gears up for a pivotal moment in its economic roadmap. All eyes are on New Delhi as Finance Minister Nirmala Sitharaman presents the Union Budget of India.

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Union Budget 2024: The countdown has begun for the Modi 3.0 era Union Budget, which will be presented by Finance Minister Nirmala Sitharaman on Tuesday (Jul 23) at 11:00 am IST. Meanwhile, the Monsoon Session of the Parliament is also expected to begin soon on July 22.&nbsp;

The Union Budget is one of the key financial statements of the government’s finances that is an estimation of revenue and expenditure for the upcoming fiscal year. In 2024, the budget was announced twice due to Lok Sabha elections- one an interim budget, presented on February 1 and the other will be the union budget, yet to be presented this month.

Also Read |&nbsp;<a href="https://www.wionews.com/business-economy/imf-raises-indias-gdp-forecast-to-7-for-2024-25-741460">IMF raises India's GDP forecast to 7% for 2024-25</a>

Nirmala Sitharaman will become the first finance minister to present seven consecutive Union Budgets, surpassing Morarji Desai, who presented six in a row. &nbsp;&nbsp;

Recently, the 'halwa' ceremony was held, which marks the final stage for preparation of the Union Budget 2024-25. Ahead of the Budget presentation, 'halwa' is prepared and served to officials and staff members of the finance ministry who are involved in the preparation of the document.

The ceremony is organised in the basement of North Block, which houses the ministry in the national capital and is attended by the finance minister and other high-ranking officials.

<h2>Union Budget 2024: Date and time</h2>

The Budget Session of Parliament will commence on July 22, as per the official notification. Sitharaman will present the Union Budget on July 23, Minister of Parliamentary Affairs Kiren Rijiju confirmed. The Budget Session will conclude on August 12, Rijiju added.

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<h2>Union Budget 2024: Where to watch full Union Budget speech?</h2>

The budget address will be broadcast live on Parliament’s official channels, Sansad TV and Doordarshan, as well as on each channels'&nbsp;own official YouTube page.&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/four-key-leaders-resign-from-ajit-pawars-party-following-electoral-defeat-741595">Four key leaders resign from Ajit Pawar's party following electoral defeat</a>

<h2>Union Budget 2024: How to download Union Budget PDF and full documents?</h2>

The Union Budget Web Portal (www.indiabudget.gov.in), which is available in English and Hindi, also provides digital access to the Budget 2024 papers. This contains budget papers such as the yearly financial statement, grant requests, and finance bills specified by the Constitution.

(With inputs from agencies)

Union Budget 2024: The countdown has begun for the Modi 3.0 era Union Budget, which will be presented by Finance Minister Nirmala Sitharaman on Tuesday (Jul 23) at 11:00 am IST.

Union Budget 2024: The countdown has begun for the Modi 3.0 era Union Budget, which will be presented by Finance Minister Nirmala Sitharaman on Tuesday (Jul 23) at 11:00 am IST. Meanwhile, the Monsoon Session of the Parliament is also expected to begin soon on July 22. The Union Budget is one of the key financial statements of the government’s finances that is an estimation of revenue and expenditure for the upcoming fiscal year. In 2024, the budget was announced twice due to Lok Sabha elections- one an interim budget, presented on February 1 and the other will be the union budget, yet to be presented this month. Also Read | IMF raises India's GDP forecast to 7% for 2024-25 Nirmala Sitharaman will become the first finance minister to present seven consecutive Union Budgets, surpassing Morarji Desai, who presented six in a row. Recently, the 'halwa' ceremony was held, which marks the final stage for preparation of the Union Budget 2024-25. Ahead of the Budget presentation, 'halwa' is prepared and served to officials and staff members of the finance ministry who are involved in the preparation of the document. The ceremony is organised in the basement of North Block, which houses the ministry in the national capital and is attended by the finance minister and other high-ranking officials. Union Budget 2024: Date and time The Budget Session of Parliament will commence on July 22, as per the official notification. Sitharaman will present the Union Budget on July 23, Minister of Parliamentary Affairs Kiren Rijiju confirmed. The Budget Session will conclude on August 12, Rijiju added. Hon’ble President of India, on the recommendation of Government of India, has approved the proposal for summoning of both the Houses of Parliament for the Budget Session, 2024 from 22nd July, 2024 to 12 August, 2024 (Subject to exigencies of Parliamentary Business). Union Budget,… — Kiren Rijiju (@KirenRijiju) July 6, 2024 × Union Budget 2024: Where to watch full Union Budget speech? The budget address will be broadcast live on Parliament’s official channels, Sansad TV and Doordarshan, as well as on each channels' own official YouTube page. Also Read | Four key leaders resign from Ajit Pawar's party following electoral defeat Union Budget 2024: How to download Union Budget PDF and full documents? The Union Budget Web Portal (www.indiabudget.gov.in), which is available in English and Hindi, also provides digital access to the Budget 2024 papers. This contains budget papers such as the yearly financial statement, grant requests, and finance bills specified by the Constitution. (With inputs from agencies)

Union Budget 2024: Date, time, where to watch Nirmala Sitharaman’s full budget speech live | Complete guide

Indian Finance Minister Nirmala Sitharaman presented the interim Budget 2024 on Thursday (Feb 1). In her speech, the finance minister said that the Modi government will be working towards making the country a 'Viksit (Advanced) Bharat' by 2047.

Indian Finance Minister Nirmala Sitharaman presented the interim Budget 2024 on Thursday (Feb 1). In her speech, the finance minister said that the Modi government will be working towards making the country a 'Viksit (Advanced) Bharat' by 2047. "The Indian economy has witnessed a profound positive transformation in the last 10 years. The people of India are looking ahead to the future with hope and optimism," Sitharaman said. Political leaders react to the Budget. Here's a look at what they said: > PM Modi: Hailing the interim Budget, Prime Minister Narendra Modi on Thursday said, "It has confidence in continuity. It will empower all 4 pillars of Viksit Bharat- Yuva, Garib, Mahila and Kisan. This Budget gives the guarantee of making India a developed nation by 2047." He added that the budget benefits every section of the society and lays the foundation for a developed India. Also read: Budget is 'inclusive and innovative,' says PM Modi > Amit Shah: Union Home Minister Amit Shah in a post on X said, "The budget speech sheds light on the milestones achieved by the Modi govt in the last 10 years on its journey to make Bharat the foremost nation in every sector during the Amrit Kaal. On the very foundation of these feats, the magnificent edifice of a Viksit Bharat is being built." #WATCH | PM Modi on interim Budget says, "Income-tax remission scheme will provide relief to 1 crore people from the middle class. In this budget, important decisions have been taken for the farmers."#Budget2024 pic.twitter.com/Lg2fRnMJS5 — ANI (@ANI) February 1, 2024 × > Rajnath Singh: Defence Minister Rajnath Singh speaking to news agency ANI said, "This is an encouraging budget....We are fully confident that we will achieve the target of becoming a developed nation by 2047." > Nitin Gadkari: Union Transport Minister Nitin Gadkari said the budget will speed up the country's development and increase employment. "Finance Minister's Budget is aimed to strengthen India's economic sector, in line with PM Modi's resolve to make India the third largest economy of the world," he said. > Jyotiraditya Scindia: Civil Aviation Minister Jyotiraditya Scindia called the budget historic, adding the country has moved forward. Oppn leaders criticise the Budget Several opposition leaders in the country, including those from the Congress, and the Aam Aadmi Party (AAP), criticised the interim Budget. Speaking to news agency ANI, Congress MP Shashi Tharoor said, "It was one of the shortest speeches on record in the budget. Not very much came out of it. As usual a lot of rhetorical language, and very little concrete on implementation...She (Nirmala Sitharaman) talked about foreign investment without acknowledging that that investment has come down significantly." #WATCH | On Interim Budget 2024-25, AAP MP Swati Maliwal says, "This is a disappointing budget. Inflation and unemployment are at their peak in the country but there is nothing about it in the budget...It is a disappointing budget for the common people." pic.twitter.com/9Ksu1BZ7AS — ANI (@ANI) February 1, 2024 × Tharoor added that Sitharaman talked about many things which are couched in vague language like 'confidence' and 'hope' and soon. But when it comes to hard figures, very few figures are available, he said. Also read | India interim Budget: "Garib, Mahilayen, Yuva, Annadata", key takeaways from Sitharaman's speech Congress MP Manish Tewari speaking on the budget said, "What's worrying is that there is a budget deficit of Rs 18 lakh crores. This means that the government is borrowing for its expenditure. This number is only going to increase next year." #WATCH | On Interim Budget 2024-25, Congress MP Shashi Tharoor says, "It was one of the shortest speeches on record in the Budget. Not very much came out of it. As usual a lot of rhetorical language, very little concrete on implementation...She talked about foreign investment… pic.twitter.com/x0AhgGSlQ4 — ANI (@ANI) February 1, 2024 × Congress MP Adhir Ranjan Chowdhury said the budget was nothing but to woo people in the upcoming election. "Unfortunately, the finance minister is talking about the achievements of the last ten years. It is a temporary budget. Even then it is not giving any vision...The unemployment position in the country is alarming and nothing is mentioned about this...It is only an eloquent speech made by the finance minister...," Revolutionary Socialist Party (RSP) MP NK Premachandran told ANI. Shiromani Akali Dal MP Harsimrat Kaur Badal said the budget was hollow and there was nothing for the country's youth, women and farmers in it. (With inputs from agencies)

India Budget 2024: PM Modi hails interim budget, opposition calls it ‘rhetorical’

Indian Finance Minister Nirmala Sitharaman presented the interim Budget 2024 on Thursday (Feb 1). The railways ministry was allocated a total of Rs 2.55 lakh crore (2.

Indian Finance Minister Nirmala Sitharaman presented the interim Budget 2024 on Thursday (Feb 1). The railways ministry was allocated a total of Rs 2.55 lakh crore (2.5 trillion). In her speech, Finance Minister Sitharaman said that three major economic corridor programmes will be implemented by the government. "These are energy, mineral and cement corridors; port connectivity corridors, and high traffic density corridors," Sitharaman said. "The projects have been identified under the PM Gati Shakti for enabling multi-modal connectivity. They will improve logistics efficiency and reduce cost," Sitharaman said. Also read | India interim Budget 2024: Key takeaways from Nirmala Sitharaman's speech "The resultant decongestion of the high-traffic corridors will also help in improving operations of passenger trains, resulting in safety and higher travel speed for passengers," she added. The finance minister also said that together with dedicated freight corridors, these three economic corridor programmes will accelerate India's Gross Domestic Product (GDP) and reduce logistic costs. '40K trains to be converted to Vande Bharat standards' During her interim Budget speech, Finance Minister Sitharaman said that 40,000 normal train bogeys will be converted to the Vande Bharat standards to enhance the safety, convenience and comfort of passengers. VIDEO | "Railways: Three major Railway economic corridors programmes will be implemented. These are energy, mineral and cement corridor; port connectivity corridors and high traffic density corridors. The projects have been identified under the PM Gati Shakti for enabling… pic.twitter.com/zD0fJ4vp1R — Press Trust of India (@PTI_News) February 1, 2024 × "We have a fast-expanding middle class, and rapid urbanisation is taking place. Metro and NaMo Bharat can be the catalyst for the required urban transformation," she added. Also read | Sitharaman says govt under Modi working towards making country 'Viksit Bharat' by 2047 This was Sitharaman's sixth Union Budget. She holds the title for presenting the longest budget speech in terms of duration. However, this year's speech was the shortest, lasting 57 minutes. Her budget speech in 2020 was two hours and 42 minutes long. What happened in last year's budget? In the previous year's Union Budget, the Modi government allocated a record Rs 2.4 lakh crore to the railways ministry for the financial year 2023-2024. This amount was nine times of what was allocated in FY 2013-14.

India Budget 2024: For railways, FM Sitharaman says 3 major economic corridor programmes to be implemented

Budget 2024 Cheaper Costlier Items List: Union Finance Minister Nirmala Sitharaman presented the interim Budget 2024 on Thursday (Feb 01). This budget will look after the country's financial needs until a new government comes into power after the Lok Sabha elections in 2024.

Budget 2024 Cheaper Costlier Items List: Union Finance Minister Nirmala Sitharaman presented the interim Budget 2024 on Thursday (Feb 01). This budget will look after the country's financial needs until a new government comes into power after the Lok Sabha elections in 2024. It was Nirmala Sitharaman's sixth budget. In her speech, she said, "People are living better and earning better, with even greater aspirations for the future. Average real income of the people has increased by fifty per cent. Inflation is moderate. People are getting empowered, equipped and enabled to pursue their aspirations." Ahead of the budget presentation, the general public was curious to know what items will become affordable and goods that will observe an increase in prices. Previously, there have been price changes in electronic gadgets, home appliances, vehicles and jewellery. However, it is noteworthy that there was no announcement regarding what got cheaper or what became more expensive in the Budget Speech 2024 by Union Finance Minister Nirmala Sitharaman. ALSO READ | India budget 2024: Budget is 'inclusive and innovative,' says PM Modi Let's take a look at what has become more expensive or cheaper over the past five years. Here's a year-by-year list: Union Budget 2023-2024: List of Cheaper and Costlier items Cheaper: TVs, smartphones, compressed gas, shrimp feed, lab-grown diamonds, machinery for manufacturing lithium-ion cells for EVs Costlier: Cigarettes, bicycles, imitation jewellery, air travel, electric chimney, copper scrap, textiles Union Budget 2022-2023 Cheaper: Imitation jewellery, computers, mobile phones, laptops, cut and polished diamonds, gems Costlier: Umbrellas, imported items, unblended fuel, chocolates, smartwatches and their earbuds Union Budget 2021-2022 Cheaper: Gold, silver, leather products, nylon clothes, products made of iron, steel and copper Costlier: Solar cells, mobile phones and chargers, imported gems and precious stones, imported AC and fridge compressors, imported auto parts Union Budget 2020-2021 Cheaper: Raw sugar, skimmed milk, soya fibre, soya protein, certain alcoholic beverages, agro-animal based products, import of newsprint, lightweight and coated paper, purified terephthalic acid Costlier: Medical equipment, footwear, furniture, wall fans, cigarettes and other tobacco products, clay iron, steel, copper, CV parts Union Budget 2019-2020 Cheaper: Affordable houses, set-top boxes, imported defence equipment, imported parts of EVs, camera modules, mobile phone chargers, imported raw material for making artificial kidneys, imported wool fibre, wool tops Costlier: Petrol, diesel, cash withdrawal over Rs 1 crore a year, fully-imported cars, split ACs, cigarettes, hookah and chewing tobacco products, imported auto parts, imported stainless steel products, imported gold and other precious metals, imported paper and paper products including printed books, imported plugs, sockets and switches, CCTV cameras and loudspeakers. (With inputs from agencies)

Budget 2024: What's become cheaper or costlier in last five years? Check year-wise list of items

Indian Prime Minister Narendra Modi on Thursday (Feb 1) reacted to the interim Budget 2024-2025 presented by Union Finance Minister Nirmala Sitharaman. "This interim Budget is inclusive and innovative.

Indian Prime Minister Narendra Modi on Thursday (Feb 1) reacted to the interim Budget 2024-2025 presented by Union Finance Minister Nirmala Sitharaman. "This interim Budget is inclusive and innovative. It has confidence in continuity. It will empower all 4 pillars of Viksit Bharat- Yuva, Garib, Mahila and Kisan. This budget gives the guarantee of making India a developed nation by 2047," Prime Minister Modi said. "This budget has a reflection of the young aspirations of a young India. Two important decisions were made within the Budget. For research and innovation, a fund of Rs 1 Lakh Crore has been announced...," he added. PM Modi says, " This Budget stresses on empowerment of the poor and the middle class and creating of new employment opportunities for them. It has been announced to construct 2 crore more houses for the poor. We aim to have 3 crore 'Lakhpati Didis' now. ASHA and Aganwadi workers… pic.twitter.com/3FEw5iFB8G — ANI (@ANI) February 1, 2024 × Modi further said that the income tax remission scheme announced in the budget will provide relief to 10 million (1 crore people) from the middle class. "In this budget, important decisions have been taken for the farmers," he added. FM Sitharaman presents interim Budget 2024-25 Earlier on Thursday, Finance Minister Sitharaman presented the interim Budget for the financial year 2024-2025. Known for giving long and detailed budget speeches, Sitharaman's speech for this budget was the shortest, lasting a total of 57 minutes. Also read | 250 million people came out of poverty in the last 10 years: FM Sitharaman "The Indian economy has witnessed a profound positive transformation in the last ten years. The people of India are looking ahead to the future with hope and optimism," Sitharaman said and emphasised the continuity of the Modi government's commitment to the welfare of citizens. She acknowledged the challenges posed by the COVID-19 pandemic but noted that India successfully overcame them, continuing its stride towards building a self-reliant (Atmanirbhar) country. Key takeaways Some of the key takeaways from Sitharaman's budget speech include no change in the taxation scheme, both in direct and indirect brackets; revised estimate for fiscal deficit being 5.8 per cent of GDP; various schemes under maternal and child health care to be brought under one comprehensive programme and a scheme to help deserving sections of the middle class to buy or build their own houses. "The exemplary track record of governance, development and performance, effective delivery, and ‘Jan Kalyan’ has given the Government trust, confidence and blessings of the people to realize, whatever it takes, the goal of ‘Viksit Bharat’ with good intentions, true dedication and hard work in the coming years and decades," Sitharaman said towards the end of her speech.

India Budget 2024: Budget is 'inclusive and innovative,' says PM Modi

Budget 2024: The Budget Session of Parliament began with President Droupadi Murmu addressing a joint sitting on January 31. In her speech, she said, "This is my first address in this new Parliament building.

Budget 2024: The Budget Session of Parliament began with President Droupadi Murmu addressing a joint sitting on January 31. In her speech, she said, "This is my first address in this new Parliament building. This magnificent building was constructed at the beginning of "Azadi Ka Amrit Kaal". The session will conclude on February 1 with the Finance Minister Nirmala Sitharaman presenting the interim Budget. When she presented the budget on the same date last year, she called it the "first budget of Amrit Kaal." She said, "Our vision for the 'Amrit Kaal' includes a technology-driven and knowledge-based economy, with strong public finances and a robust financial sector. To achieve this 'jan-bhaagidari' (public participation) through 'sab ka saath, sab ka prayas' is essential." Here's everything you need to know about Amrit Kaal ahead of the interim Budget 2024. What is Amrit Kaal? Indian Prime Minister Narendra Modi used the term "Amrit Kaal" for the first time in 2021 during his speech from the Red Fort on the occasion of 75th Independence Day. He said, "The goal of 'Amrit Kaal' is to ascend to new heights of prosperity for India and the citizens of India. We don't have to wait for long to achieve our goals. We have to start now. We don't have a moment to lose. This is the right time. Our country also has to change and we as citizens have to change ourselves too." ALSO READ | Here's all you need to know about Kalpana Soren, Hemant Soren's wife who can become Jharkhand's next CM During his speech, PM Modi mentioned that the term "Amrit Kaal" signifies the 25 years between India's 75th and 100th independence anniversaries. He also stated that India aims to significantly improve the standard of living of its citizens in the next 25 years. It includes bridging the gap between urban and rural areas, reducing government interference in people's lives, and developing modern infrastructure throughout the country. "Amrit Kaal" originates from Vedic astrology and indicates the "golden era". In her last budget speech, FM Sitharaman mentioned that the Centre would focus on seven areas: inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power, and the financial sector. In her speech on January 31, President Murmu added, "I am confident that this new building will be witness to productive dialogue on policies that will shape the development of 'Viksit Bharat' in the Amrit Kaal of our independence." (With inputs from agencies)

Budget 2024: FM Nirmala Sitharaman to present interim Budget on Feb 1, the second of ‘Amrit Kaal’

As India's vibrant fintech industry gears up for another leap, the upcoming Union Budget 2024 carries immense weight. On February 1st, Finance Minister Nirmala Sitharaman's decisions will shape the trajectory of this rapidly evolving sector, impacting not just millions of financial service providers but also the broader quest for financial inclusion and economic growth.

Winds of change &amp; eager expectations

Having witnessed substantial regulatory reforms in 2023, the fintech industry now craves the Budget's support in fueling its next phase of expansion. Key expectations revolve around:

India Fintech Credit Fund:&nbsp;A dedicated fund offering affordable financing to fintech companies, particularly small and medium players, could unlock vital growth opportunities.

Tax breaks for financial inclusion:&nbsp;Incentivising fintechs operating in underserved areas is crucial to bridging the financial gap and empowering marginalized communities. GST rationalization measures would further ease this journey.

Empowering MSMEs:&nbsp;Streamlined lending platforms and tax benefits dedicated to small businesses can unlock their potential, contributing significantly to India's economic engine.

Upskilling the workforce:&nbsp;Investments in training programs and infrastructure to equip young workers with the skills needed for the digital financial landscape are vital for sustained growth.

Beyond buzzwords: Insights into key expectations

Digital infrastructure boost:&nbsp;Initiatives like&nbsp;Open Network for Digital Commerce (ONDC)&nbsp;and&nbsp;Open Credit Enablement Network (OCEN)&nbsp;hold immense promise for streamlining digital commerce and fintech integration. Budgetary allocations for their development would be a welcome catalyst.

Regulatory flexibility: While consumer protection remains paramount, a balanced regulatory approach fosters responsible innovation and prevents stifling entrepreneurship. A sandbox-like environment for controlled experimentation could be a valuable tool.

Incubator and Accelerator support:&nbsp;Access to funding and infrastructure is critical for nurturing early-stage fintech startups. The Budget can be vital in promoting a vibrant ecosystem conducive to innovation.

Gift City's global ambitions:&nbsp;With its potential as a global fintech hub, Gift City benefits from targeted investments in infrastructure, regulatory enhancements, and technology integration.

Beyond India's shores: Global implications

India's success in nurturing its fintech ecosystem will have far-reaching consequences. A thriving fintech sector can:

Drive Global Financial Inclusion:&nbsp;India's innovative solutions can provide valuable lessons for other developing economies grappling with similar challenges.

Attract International Investment:&nbsp;A robust and transparent regulatory framework along with a supportive Budget can make India a prime destination for global fintech players.

Position India as a tech leader:&nbsp;Continued advancements in India's fintech landscape can solidify its position as a global leader in technology and innovation.

The big picture: Beyond the budgetary numbers:

Ultimately, the Union Budget 2024 is not just about numbers and allocations. It represents a crucial opportunity to shape the future of India's financial landscape. By prioritising fintech growth, inclusivity, and innovation, the government can unlock the immense potential of this sector to empower individuals, propel businesses, and fuel India's ambitious economic journey.

As the countdown to the Budget begins, the Indian fintech industry holds its breath, eager to see the blueprint for its future etched in bold strokes.

Additional insights:

The Indian fintech market is projected to reach $110 billion by 2024.

The digital lending landscape is expected to experience explosive growth, reaching $350 billion by 2027.

Collaboration between fintech and e-commerce platforms like ONDC has the potential to revolutionise India's digital commerce landscape and empower rural communities.

As India's vibrant fintech industry gears up for another leap, the upcoming Union Budget 2024 carries immense weight. On February 1st, Finance Minister Nirmala Sitharaman's decisions will shape the trajectory of this rapidly evolving sector, impacting not just millions of financial service providers but also the broader quest for financial inclusion and economic growth.

As India's vibrant fintech industry gears up for another leap, the upcoming Union Budget 2024 carries immense weight. On February 1st, Finance Minister Nirmala Sitharaman's decisions will shape the trajectory of this rapidly evolving sector, impacting not just millions of financial service providers but also the broader quest for financial inclusion and economic growth. Winds of change & eager expectations Having witnessed substantial regulatory reforms in 2023, the fintech industry now craves the Budget's support in fueling its next phase of expansion. Key expectations revolve around: India Fintech Credit Fund: A dedicated fund offering affordable financing to fintech companies, particularly small and medium players, could unlock vital growth opportunities. Tax breaks for financial inclusion: Incentivising fintechs operating in underserved areas is crucial to bridging the financial gap and empowering marginalized communities. GST rationalization measures would further ease this journey. Empowering MSMEs: Streamlined lending platforms and tax benefits dedicated to small businesses can unlock their potential, contributing significantly to India's economic engine. Upskilling the workforce: Investments in training programs and infrastructure to equip young workers with the skills needed for the digital financial landscape are vital for sustained growth. Beyond buzzwords: Insights into key expectations Digital infrastructure boost: Initiatives like Open Network for Digital Commerce (ONDC) and Open Credit Enablement Network (OCEN) hold immense promise for streamlining digital commerce and fintech integration. Budgetary allocations for their development would be a welcome catalyst. Regulatory flexibility: While consumer protection remains paramount, a balanced regulatory approach fosters responsible innovation and prevents stifling entrepreneurship. A sandbox-like environment for controlled experimentation could be a valuable tool. Incubator and Accelerator support: Access to funding and infrastructure is critical for nurturing early-stage fintech startups. The Budget can be vital in promoting a vibrant ecosystem conducive to innovation. Gift City's global ambitions: With its potential as a global fintech hub, Gift City benefits from targeted investments in infrastructure, regulatory enhancements, and technology integration. Beyond India's shores: Global implications India's success in nurturing its fintech ecosystem will have far-reaching consequences. A thriving fintech sector can: Drive Global Financial Inclusion: India's innovative solutions can provide valuable lessons for other developing economies grappling with similar challenges. Attract International Investment: A robust and transparent regulatory framework along with a supportive Budget can make India a prime destination for global fintech players. Position India as a tech leader: Continued advancements in India's fintech landscape can solidify its position as a global leader in technology and innovation. The big picture: Beyond the budgetary numbers: Ultimately, the Union Budget 2024 is not just about numbers and allocations. It represents a crucial opportunity to shape the future of India's financial landscape. By prioritising fintech growth, inclusivity, and innovation, the government can unlock the immense potential of this sector to empower individuals, propel businesses, and fuel India's ambitious economic journey. As the countdown to the Budget begins, the Indian fintech industry holds its breath, eager to see the blueprint for its future etched in bold strokes. Additional insights: The Indian fintech market is projected to reach $110 billion by 2024. The digital lending landscape is expected to experience explosive growth, reaching $350 billion by 2027. Collaboration between fintech and e-commerce platforms like ONDC has the potential to revolutionise India's digital commerce landscape and empower rural communities.

India's fintech boom: Budget blueprint for growth and inclusion?

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