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New Delhi: Follow LIVE UPDATES of the Union Budget 2025 here
FM Nirmala Sitharaman starts reading Union Budget 2025. Watch Live here:
Congress Leader Jairam Ramesh on Budget 2025
Budget has an intent, content – it both make the extent of the budget. We don’t have much expectations from the budget that some big announcements will be made and that will encourage private investment… Let’s see if there will be some tax relaxation for the middle class or not. Also, we need to see if the investors get some relaxation from the ‘tax terrorism’. We have demanded some reforms in GST. Modi 3.0 is being discussed all over the world, let’s see when GST 2.0 comes
#WATCH | #UnionBudget2025 | Congress MP Jairam Ramesh says, “Budget has an intent, content – it both make the extent of the budget. We don’t have much expectations from the budget that some big announcements will be made and that will encourage private investment… Let’s see if… pic.twitter.com/Yo0etIzTCM
— ANI (@ANI) February 1, 2025
Union Finance Minister Nirmala Sitharaman arrives at the Parliament. She will present the Union Budget at 11 am. Earlier she met President Droupadi Murmu at the Rashtrapati Bhavan.
#WATCH | #UnionBudget2025 | Delhi: Union Finance Minister Nirmala Sitharaman arrives at the Parliament. She will present the Union Budget shortly. pic.twitter.com/sWh7HcQgnR
— ANI (@ANI) February 1, 2025
Finance Minister Nirmala Sitharaman along with Minister of State for Finance Pankaj Chaudhary and senior officials of the Ministry of Finance met President Droupadi Murmu at Rashtrapati Bhavan before presenting the Union Budget. President Droupadi Murmu on this occasion granted best wishes and fed FM Sitharaman ‘Dahi Cheeni’.
Union Minister for Finance and Corporate Affairs Smt Nirmala Sitharaman along with Minister of State for Finance Shri Pankaj Chaudhary and senior officials of the Ministry of Finance called on President Droupadi Murmu at Rashtrapati Bhavan before presenting the Union Budget. The… pic.twitter.com/uFF4ElKUOr
— President of India (@rashtrapatibhvn) February 1, 2025
The unveiling of the Economic Survey on Friday sets the stage for Finance Minister Nirmala Sitharaman to present the Union Budget for 2025-26 in Parliament on Saturday (February 1), which is expected to continue the government’s policy of giving a big push to economic growth with equity. The government has prioritised improving the quality of life in rural areas to ensure equitable and inclusive development, according to the Economic Survey 2024-25.
The survey highlights financial inclusion as a key focus, with rural households and small businesses getting easier access to credit through microfinance institutions, self-help groups and other intermediaries. It outlines key initiatives in infrastructure, rural housing, sanitation, clean fuel, social protection, and connectivity, along with efforts to boost rural livelihoods.
Accordingly, the agriculture and rural sectors are expected to get increased allocations in the Budget as are welfare schemes to uplift the poor. The Finance Minister is also expected to continue with the government’s policy of stepping up investments in big-ticket infrastructure projects to spur growth and create more jobs in the economy in the Budget for 2025-26.
The Economic Survey has also highlighted that a significant investment in infrastructure is required over the next ten years to achieve India’s development goals. While there are varying estimates on the exact amount needed, there is general agreement that current spending on infrastructure must increase to meet these goals.
With this in mind, the government has placed a strong focus on infrastructure over the past five years. As a result, capital spending by the central government on major infrastructure sectors has grown at an average rate of 38.8 per cent from FY20 to FY24, the survey has pointed out. There may be concessions for the middle-class which is pinning hope on a reduction in income-tax rates, along with a hike in standard deduction.
Under the old tax regime, the basic income exemption limit is set at Rs 2.50 lakh, while for those opting for the new tax regime, the limit is fixed at Rs 3 lakh. The lower income tax burden would place more disposable income in the hands of the people to accelerate demand and give a further fillip to growth.
The economic survey has also highlighted that rising private consumption is playing a key role in helping India’s domestic economy remain steady amidst global uncertainties.
