Union Budget 2025-26

February 3, 2025 12:04 PM

Budget math looks realistic, economic growth to pick up pace: Morgan Stanley

The Union Budget has managed to meet the goals of boosting consumption though tax cuts, increasing capex through transfers to states, and maintaining the path of fiscal consolidation which is expected to lead to a recovery in the economic growth rate with macro stability in a comfortable range, according to a Morgan Stanley report released on Monday. The report said that both fiscal and monetary policy are pivoting to support growth, which is in line with “our view of a cyclical recovery in g...

February 1, 2025 2:47 PM

FM Sitharaman goes for big push to job-led inclusive growth in Budget 2025-26

Finance Minister Nirmala Sitharaman on Saturday presented the Budget 2025-26 in the Parliament with an aim at accelerating employment-led inclusive growth, propelled by investments in the agricultural and rural sector, MSMEs and exports while sticking to the fiscal consolidation path. "This budget is dedicated to accelerating growth, driven by our aspirations for a 'Viksit Bharat.' Our economy remains the fastest growing among all major economies," the Finance Minister said on the floor of the ...

February 1, 2025 1:58 PM

FM Sitharaman cuts fiscal deficit to 4.4 per cent of GDP

Finance Minister Nirmala Sitharaman on Saturday presented the Budget 2025-26 in Parliament which aims to give a big push to employment-led growth with its focus on the agricultural and rural sector, MSMEs, and exports, while sticking to the fiscal consolidation path to ensure stability in the economy. She has kept the budget deficit target on a declining path to 4.4 per cent of GDP in 2025-26 from 4.8 per cent of GDP in 2024-25. The net market borrowing for the budget has been fixed at Rs 11.5...

February 1, 2025 1:15 PM

FM Sitharaman’s announcements for internet in govt schools, social security for gig workers

Finance Minister Nirmala Sitharaman announced a slew of initiatives for the poor and marginalised sections including the gig workers. Her blueprint for ‘Viksit Bharat’ includes a social security plan for gig workers and a major thrust on addressing the educational gaps in government-run schools. She announced that broadband connectivity will be provided in all government secondary schools, a move that will bring the students at par with their private counterparts and also open new vistas of...

February 1, 2025 12:43 PM

Tax booster for middle class: No income tax payable on income up to Rs 12 lakh

In a big boost to the Indian middle class, Finance Minister Nirmala Sitharaman on Saturday announced that there will be no income tax payable for incomes up to Rs 12 lakh, and Rs 12.75 lakh for salaried taxpayers (including standard deduction). In the new tax regime, the revised tax rate structure is Rs 0-4 lakh (zero tax), Rs 4-8 lakh (5 per cent), Rs 8-12 lakh (10 per cent), Rs 12-16 lakh (15 per cent), Rs 16-20 lakh (20 per cent), Rs 20-24 lakh (25 per cent), and above Rs 24 lakh (30 per cen...

February 1, 2025 12:36 PM

Nirmala Sitharaman proposes Makhana Board in Budget 2025-26

In her Budget speech on Saturday, Finance Minister Nirmala Sitharaman proposed the formation of a Makhana Board in Bihar, aimed at supporting the state's prominent Makhana (foxnut) industry. Known for its nutritional value, Makhana is widely produced and consumed in Bihar. Sitharaman highlighted the success of the One District One Product scheme, which has significantly benefitted Makhana producers. Additionally, the Makhana Research Center has been granted national institution status, and the p...

February 1, 2025 12:24 PM

Centre to introduce new Income Tax Bill next week

In a major announcement, Finance Minister Nirmala Sitharaman on Saturday said the government will introduce a new Income Tax Bill next week. The new Income Tax Code will be announced next week, and the I-T Department will "trust first, scrutinise later", the Finance Minister said while presenting the Budget 2025-26. The Finance Minister also announced that the FDI limit for the insurance sector will be raised to 100 per cent and the enhanced limit for the insurance sector is to be applicable t...

February 1, 2025 12:14 PM

Union Budget 2025-26: 10,000 additional seats in medical colleges, daycare cancer centres

Union Finance Minister Nirmala Sitharaman on Saturday announced 10,000 additional seats in medical colleges as well as daycare cancer centres in all district hospitals. Presenting her eighth consecutive budget and the NDA government's second full Union Budget of its third term, the Finance Minister said that India has seen remarkable growth in medical education in the last 10 years. "10,000 additional seats to be added in medical colleges next year and 75,000 seats to be added in next five yea...

February 1, 2025 11:59 AM

Make in India booster: National Manufacturing Mission to be launched

Finance Minister Nirmala Sitharaman on Saturday announced a National Manufacturing Mission to further boost the 'Make In India' initiative across industries, as the country becomes a bright spot on the global manufacturing map. Presenting the Union Budget 2025-26, the Finance Minister said that the National Manufacturing Mission would support clean tech, and build an ecosystem for solar cells, EV batteries, and high voltage transmission equipment manufacturing at the local level. The credit gu...

January 31, 2025 9:18 AM

Budget Session 2025-26 begins today; Finance Minister Sitharaman to present Economic Survey at noon

The Budget session of Parliament kicks off today, beginning with President Droupadi Murmu's address to the joint sitting of both Houses at 11 am. After the address, Union Finance Minister Nirmala Sitharaman will present the Economic Survey at noon in the Lok Sabha, followed by its tabling in the Rajya Sabha at 2 pm. The Economic Survey, compiled by the Department of Economic Affairs under the guidance of the Chief Economic Adviser, will provide an in-depth analysis of the 2024-25 fiscal year a...