In a significant development, Parliament has approved the Interim Union Budget for 2024-25.

The Rajya Sabha gave its nod to return the Appropriation (Vote on Account) Bill, 2024, the Appropriation Bill, 2024 and Appropriation Bills related to Union Territory of Jammu and Kashmir and Finance Bill, 2024 to the Lok Sabha yesterday.

These bills were reportedly passed by the Lok Sabha on Wednesday.

Replying to the discussion on the Interim Union Budget and the interim budget of the Union Territory of Jammu and Kashmir in the Rajya Sabha, Finance Minister Nirmala Sitharaman said, the retail inflation has declined from an average of 6.8 per cent in April to December 2022 to 5.5 per cent in the corresponding period of 2023.

Reportedly, members from various political parties also participated in the discussion.