Nirmala Sitharaman Delivers Shortest Budget Speech, Eyes Full Budget in July

In an unprecedented move, Finance Minister Nirmala Sitharaman presented the interim Budget for 2024-25 on February 1, 2024, delivering her shortest speech ever. The speech, which began at 11 am, concluded in just 58 minutes, setting a new record for the briefest budget presentation in her tenure. Sitharaman’s previous shortest budget speech was in 2023, lasting 87 minutes. This year’s concise presentation contrasts sharply with her longest speech of 160 minutes in 2020, and it was one of the shortest on record, as noted by Congress MP Shashi Tharoor.

The budget speech primarily focused on the government’s vision for a ‘Viksit Bharat’ by 2047. Sitharaman emphasized an all-round, pervasive, and inclusive approach to development, targeting the empowerment of four key groups: the poor, women, youth, and farmers. She reiterated that their needs and welfare are the government’s highest priority and their progress is integral to the nation’s advancement. Despite keeping the speech short, Sitharaman announced no changes in income tax rates and slabs.

The brevity of the budget speech was strategic, as the government plans to present a full budget in July, post the anticipated election victory. Sitharaman expressed confidence in presenting a detailed roadmap for achieving ‘Viksit Bharat’ in the upcoming full budget. The interim budget, thus, serves as a precursor to a more comprehensive financial plan expected later this year.

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