Finance Minister Nirmala Sitharaman is set to propose the Finance Bill for the 2024-2025 financial year in the Lok Sabha. The bill requires approval from both houses of parliament to become law. The Lok Sabha passed the Appropriation (No.2) Bill, 2024, authorizing nearly Rs 140 lakh crore for the central government's expenditure. The budget includes a hike in Standard Deduction to Rs 75,000, revisions to new tax regime slabs, and a rise in securities transaction tax in futures and options.
