India's Pre-Election Budget 2024: Here's what to expect on Feb. 1

Here's a preview of what to expect from the interim budget for 2024 on Thursday. (Source: Reuters).

Published on: Jan 31, 2024 3:32 PM IST

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Prime Minister Narendra Modi on Wednesday asserted that the country is touching new heights of progress and its journey of "all-inclusive and all-round" development will continue with people's blessings, ahead of Parliament's last session before the country’s highly anticipated general elections. Here's a glimpse of what to expect from the interim budget for 2024 on February 1.  (HT Photo/Sanjeev Verma)

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The budget is expected to buck a trend of spending big on new vote-garnering measures and focus on infrastructure.  (File Photo)

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Farmers, women and poor are a major voting bloc in India. The Modi administration has already extended its free food grains program for the next five years.  (File Photo)

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The annual payout to landowning female farmers is expected to be doubled.  (HT Photo)

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A lower tax on hybrid cars, backed by India's trade department, is expected.  (HT File Photo/Raj K Raj)

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India is likely to reduce import tariffs on gold bars, backed by India's trade ministry. (Reuters)

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 The country is expected to lower its budget deficit by at least 50 basis points in 2024/25 but could be raising capital spending by as much as 20%.  (ANI)

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The country plans to halve the amount of equity investment budgeted to help fund three state oil refiners' green energy projects to $1.8 billion for 2023/24.  (Bloomberg)

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India expects to grow at around 7% in the next fiscal year despite geopolitical risks from the Red Sea crisis but growth has been uneven.  (HT Photo/Sanjeev Verma)

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The fertiliser and food subsidies for the fiscal year 2024/25 beginning on April 1 are expected to remain at the current year's level.  (AFP)

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India may keep 2024/25 gross borrowings close to the current year's level, which will be positive for the local bond markets.  (HT Photo/Sanjeev Verma)

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India could refrain from large-scale privatisation of state-owned firms, setting low targets for divestment proceeds.  (ANI)