Decoding budget documents: How to zero in on tax changes that affect you

Wait for full budget to be presented before incorporating relevant changes into your financial and tax planning for next year

Finance Minister Nirmala Sitharaman will present the Union Budget 2024–25 today, February 1. It will be an interim budget; the full budget for this financial year will be presented by the new government formed after the general election.
 

The Union Budget offers an account of the government’s finances. It provides a statement of the estimated revenue and expenses for the upcoming year. It includes the actual financial data for the preceding year and an estimate for the forthcoming year, along with tax proposals. The Budget is divided into a revenue budget and a capital budget.

The speech: The finance minister’s speech