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Budget 2024: The insurance sector is also hoping for forward-thinking steps towards inclusivity, making insurance accessible to people with no access to insurance, with a particular focus on supporting the LGBTQIA+ community.
The Union Budget, prepared annually by the Department of Economic Affairs in the Ministry of Finance, serves as a financial plan for the country, outlining estimated earnings and expenditures for the upcoming fiscal year. The budget 2024 process began six months before the budget is scheduled to be presented, with Budget Circulars sent to relevant ministries and departments.