In her first meeting with senior officials on Wednesday, Finance Minister Nirmala Sitharaman gave them instructions to start working on the Union Budget 2024–2025.
According to Reports, FM gave the officials the order to start preparing the budget, stressing the importance of careful planning and in-depth research. This early start is intended to guarantee a well-structured budget that successfully tackles the nation’s economic priorities and difficulties.
Union Budget 2024 and GST Council Meeting: Key Financial Events
The staff at the ministry is anticipated to work together to produce a strong and well-thought-out budget plan for the next fiscal year. According to reports, the Union Budget is anticipated to be presented in Parliament by the third week of July.
Furthermore, this nation’s capital will host a meeting of the Goods and Services Tax (GST) Council on June 22 under the direction of Union Finance Minister Nirmala Sitharaman. This Council meeting is the first of its kind since it was held in October 2023.
The official X feed for the GST Council posted on Thursday, stating that the council’s 53rd meeting would take place in New Delhi on June 22, 2024.
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Insights and Expectations from the 53rd GST Council Meeting
The Union Finance Minister will chair the 53rd Goods and Services Tax Council meeting, as is customary, and state finance ministers and other relevant parties will also be in attendance.
The GST Council meets on a regular basis to examine issues related to the GST system, including administrative issues, policy changes, and tax rates.
In addition to ensuring that the indirect tax system in India is in line with the nation’s economic goals, the Council also plays a significant role in reducing the tax burden that businesses and individuals face.
Given their potential to affect trade, taxation, and broader economic dynamics, the results of the 53rd GST Council meeting will be widely watched by a number of stakeholders, including businesses, policymakers, and the general public.
