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Finance Minister Nirmala Sitharaman on Saturday unveiled the Union Budget 2025-26, emphasising inclusive economic growth and structural reforms to propel India towards becoming a "Viksit Bharat".
Honourable Speaker, I present the Union Budget for 2025-26, continuing our efforts to drive growth," Sitharaman said.
"Together, we aim to unlock India's potential under the visionary leadership of Prime Minister Modi," Sitharaman said as she began her address.
Presenting her eighth budget, Sitharaman highlighted six key reform areas, including taxation, power, urban development, mining, financial sector improvements, and regulatory overhauls.
"This budget continues our journey of driving growth and unlocking India's potential under the visionary leadership of Prime Minister Narendra Modi," she said, addressing the Parliament.
The budget proposes measures aimed at uplifting marginalised groups, boosting the economy, and ensuring sustainable development. "Our priorities include uplifting the poor, empowering the youth, supporting farmers, and ensuring women's welfare," Sitharaman remarked.
Major announcements
Focus on ‘Gareeb, Youth, Annadata and Nari’
The Finance Minister declared that a key theme of the budget was fostering inclusivity by addressing the needs of the poor, youth, farmers, and women.
Pathway to ‘Viksit Bharat’
Outlining the government’s vision for a developed India, Sitharaman underscored goals such as eradicating poverty, providing universal access to quality education, and delivering affordable, high-quality healthcare.
Structural Reforms
New initiatives in power, urban development, and the financial sector were announced to create a conducive environment for investment and innovation.
The Finance Minister stressed that India remains the fastest-growing major economy and is poised for further growth through progressive policies and sustained development efforts.
Despite 1 February 2025 falling on a Saturday, the Indian stock market will remain open for trading. Leading stock exchanges, BSE and NSE, will operate as usual on account of the Union Budget announcement. "Owing to the presentation of the Union Budget, the exchange shall conduct a live trading session on 1 February 2025," the exchanges confirmed in an official circular. Typically, the Indian stock market remains closed on Saturdays and Sundays.
Live Updates
February 01, 12:19
📢 Zero Income Tax till ₹12 Lakh Income under New Tax Regime
— PIB India (@PIB_India) February 1, 2025
▶️ Slabs and rates being changed across the board to benefit all tax-payers
▶️ New structure to substantially reduce taxes of middle class and leave more money in their hands, boosting household consumption, savings… pic.twitter.com/QzJ4nCVD0k
February 01, 12:19
Finance Minister Nirmala Sitharaman announced that the modified ‘Udaan’ scheme will accommodate four crore additional passengers over the next decade. The scheme will also support helipads and small airports in hilly, aspirational, and northeastern districts.
She further stated that greenfield airports will be developed in Bihar to meet the state’s future aviation needs. The announcement sparked protests from the Opposition in Parliament.
February 01, 12:15
Nirmala Sitharaman says no income tax up to ₹12 lakh
February 01, 12:14
Finance Minister Nirmala Sitharaman announced that nine items have been added to the duty-free sector, while 36 life-saving drugs have also been made duty-free.
February 01, 12:13
On direct tax proposals, Finance Minister Nirmala Sitharaman stated, "For the new income tax, we will uphold the spirit of ‘Nyay’. The new bill will be clear and direct in its wording, making it easy for taxpayers to understand and reducing litigation."
February 01, 12:09
Finance Minister Nirmala Sitharaman announced on Saturday that Rs 1.5 lakh crore will be allocated as 50-year interest-free loans to states for infrastructure development. Presenting the Budget for 2025-26, she also revealed a Rs 500 crore outlay for establishing a centre of excellence in artificial intelligence for education.
February 01, 11:44
Investing in People: Public Education and Health
— PIB India (@PIB_India) February 1, 2025
🔹 50,000 #AtalTinkeringLabs to be set up in Government schools in next 5⃣ years
🔹 Bharatiya Bhasha Pustak Scheme to be implemented to provide digital-form Indian language books for school and higher education
🔹 Day Care… pic.twitter.com/q1GnEn2zWh
February 01, 11:43
▪️India ranks second largest globally in fish production and aquaculture.
— PIB India (@PIB_India) February 1, 2025
▪️Seafood exports are valued at 60,000 Crore Rupees.
▪️To unlock the untapped potential of the marine sector, the government will bring in an enabling framework for sustainable harnessing of fisheries… pic.twitter.com/Sy8K4WMGlU
February 01, 11:41
Finance Minister Nirmala Sitharaman stated that the Udaan regional connectivity scheme has enabled 1.5 crore middle-class passengers to fulfil their aspirations for faster travel. Building on its success, a revised Udaan scheme will be introduced to expand regional connectivity to 120 new destinations.
February 01, 11:39
Finance Minister Nirmala Sitharaman stated that over the past ten years, 23 IITs have exceeded a student capacity of 1.35 lakh. She also announced, "In 2023, I had proposed three centres of excellence in AI for agriculture. Now, a centre of excellence for education will be established with an allocation of ₹500 crore."
February 01, 11:35
Finance Minister Nirmala Sitharaman announced that 10,000 additional seats will be added to medical colleges next year, with a total of 75,000 seats to be introduced over the next five years, while presenting the Union Budget 2025.
February 01, 11:34
New Classification Criteria for MSMEs
— PIB India (@PIB_India) February 1, 2025
➡️ Investment limit for #MSME classification to be made 2.5 times
➡️ Turnover limits for MSME classification to be doubled#ViksitBharatBudget2025 #Budget2025 #UnionBudget2025 pic.twitter.com/O6HbgW8luX
February 01, 11:33
Making it Easier for MSMEs to get Loans
— Ministry of Finance (@FinMinIndia) February 1, 2025
Credit guarantee cover for MSMEs to be significantly enhanced
Customized Credit Cards for Micro Enterprises to be introduced#ViksitBharatBudget2025 #Budget2025 #UnionBudget2025 pic.twitter.com/mLJTmKKnPt
February 01, 11:23
A comprehensive programme to boost vegetable and fruit production while ensuring fair prices for farmers will be launched, Finance Minister Nirmala Sitharaman announced while presenting the Union Budget 2025-26.
February 01, 11:20
Sitharaman stated that the PM Dhandhanya Krishi Yojana will cover 100 low-productivity districts and benefit **1.7 crore farmers**. Launched in collaboration with states, the scheme aims to create greater opportunities for farmers.
February 01, 11:16
FM Sitharaman unveils 6-year plan for 'Atmanirbharta' in pulses
February 01, 11:15
Finance Minister Nirmala Sitharaman said the Union Budget prioritises **GYAN**—Garib (poor), Yuva (youth), Annadata (farmers), and Nari Shakti (women's empowerment). She emphasised a strong focus on the rising middle class, growth, and infrastructure.
February 01, 11:14
Opposition MPs walked out of the Lok Sabha after sloganeering as Finance Minister Nirmala Sitharaman presented the Union Budget 2025-26.
February 01, 11:08
Stating that the Indian economy is the fastest growing among all major economies,FM Sitharaman adds that the development track record and structural reforms have drawn global attention. “We see the next 5 years as a unique opportunity to realise Sabka Vikas -- stimulating balanced growth of all regions”
February 01, 11:01
The Union Cabinet headed by Prime Minister Narendra Modi on Saturday approved the Union Budget 2025-26. Following this, Finance Minister Nirmala Sitharaman will present her eighth record Budget in the Lok Sabha that comes in the backdrop of growth slowing down to four-year-low of 6.4 per cent and clamour for tax relief amid moderation in consumption.
This is the second Budget of the BJP-led NDA government in its third term in office. Sitharaman had in her first Budget in 2019 replaced the leather briefcase -- which was in use for decades for carrying Budget documents -- with a traditional 'bahi-khata' wrapped in red cloth. Like in the past three years, this year's Budget would also be in paperless form.
February 01, 10:59
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
February 01, 10:53
New Delhi: Union Finance Minister Nirmala Sitharaman with Union Minister of State for Finance Pankaj Chaudhary and other officials outside the Finance Ministry ahead of the presentation of the Union Budget 2025-26, in New Delhi today.
February 01, 10:48
Union Finance Minister Nirmala Sitharaman arrived at Parliament on Saturday to present the Union Budget 2025, wearing a saree featuring Madhubani art, crafted by Padma awardee Dulari Devi. Dulari Devi, a recipient of the Padma Shri in 2021, had met the minister during a credit outreach event at the Mithila Art Institute in Madhubani, Bihar. During their interaction, they discussed Madhubani art, and Dulari Devi gifted the saree to Sitharaman, requesting her to wear it.
February 01, 10:40
PTI SHORTS | Union Budget 2025: President Murmu feeds 'dahi-cheeni' to FM Nirmala Sitharaman
— Press Trust of India (@PTI_News) February 1, 2025
WATCH: https://t.co/nD5ApDiJxS
Subscribe to PTI's YouTube channel for in-depth reports, exclusive interviews, and special visual stories that take you beyond the headlines. #PTIVideos
February 01, 09:12
1. Economic Survey highlights: The Economic Survey presented by Sitharaman in Parliament projected India’s GDP growth at 6.3% to 6.8% for FY 2025-26. It noted that India's growth is moderating and more efforts are required to achieve the near 8% rate essential for the "Viksit Bharat" vision by 2047.
2. PM Modi’s remarks: Expectations for the middle class soared after Prime Minister Modi stated: "I pray to Goddess Lakshmi that the poor and the middle-class sections in the country are blessed by her."
3. Geopolitical and economic backdrop: The budget comes amid geopolitical uncertainties and a slowing growth rate, with global economic concerns exacerbated by tariff threats from US President Donald Trump.
4. Expert recommendations: DK Srivastava, Chief Policy Advisor at EY India, told PTI: "As we navigate a challenging economic landscape, the upcoming budget must balance fiscal prudence with growth-oriented measures. Increasing capital expenditure and putting more disposable income in the hands of consumers, particularly urban consumers, will be pivotal to uplifting growth in domestic demand."
5. Karnataka’s concerns: Karnataka Chief Minister Siddaramaiah urged the Centre to ensure 'just and proportional' resource distribution, criticising its alleged discriminatory approach. "Instead of treating states merely as revenue-generating units, the Centre must respond to their financial challenges with fairness and empathy," he stated.
6. NRI tax concerns: Congress leader KC Venugopal flagged concerns over recent changes in the taxation of capital gains on real estate for NRIs, urging the finance minister to extend equal tax benefits.
7. Rahul Gandhi’s critique: Leader of the Opposition Rahul Gandhi highlighted the lack of representation of Dalits, tribals, backward classes, and minorities in the budget-making process. "Tomorrow you will see that the finance minister will go with a briefcase. A photo will come. You will not see a single Dalit, a tribal, a backward class person or a minority in the photo," he remarked.
8. Congress strategy: The Congress Party convened a meeting at Sonia Gandhi’s 10 Janpath residence to plan its strategy, focusing on issues such as inflation, unemployment, and the alleged insult to B R Ambedkar.
9. Himachal Pradesh's hopes: Himachal Chief Minister Sukhvinder Singh Sukhu expressed hopes for funding to establish an international-standard airport, urging the Union government to bear the cost entirely.
February 01, 08:31
Watch Union Finance Minister Smt. @nsitharaman present the Union Budget 2025-26 in Parliament 👇
— Ministry of Finance (@FinMinIndia) January 31, 2025
⏰ 11.00 am
🗓️ 1st Feb. 2025
📺 https://t.co/XpqpDftox9
Stay tuned and watch out for LIVE updates on👇
X ➡️ https://t.co/76gY97bOzR
Facebook ➡️ https://t.co/GVfVncuCDS…
February 01, 08:31
Watch Union Minister for Finance and Corporate Affairs Smt. @nsitharaman present the Union Budget 2025-26 in Parliament TOMORROW 👇
— Ministry of Finance (@FinMinIndia) January 31, 2025
⏰ 11.00 am
🗓️ 1st Feb. 2025
📺 https://t.co/YUAFPgVjnq#ViksitBharatBudget2025
February 01, 08:27
Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, interacted with Secretaries and senior officials involved in the Budget-making process while finalising the Union Budget 2025-26 at her office in North Block, New Delhi, on Friday. Union Minister of State for Finance, Pankaj Chaudhary, also participated in the meeting.
Union Minister for Finance and Corporate Affairs Smt. @nsitharaman interacts with the Secretaries and the senior officials involved in the Budget making process @FinMinIndia while giving final touches to the Union Budget 2025-26 at her office in North Block, in New Delhi, today.… pic.twitter.com/lXjk64WGsO
— Ministry of Finance (@FinMinIndia) January 31, 2025
February 01, 08:17
India remains a bright spot, supported by strong macroeconomic fundamentals, according to SBI Research in its pre-Budget report. Nominal GDP growth for FY26 is projected at 10.2%, based on an estimated real GDP growth of 6.2–6.4% and inflation of 4–3.8%, bringing the nominal GDP to ₹357.2 lakh crore.
READ MORE: https://newsarenaindia.com/economy/india-inc-must-align-with-govt-s-50-yr-vision-sbi-report/34700
The government is expected to maintain its commitment to fiscal prudence and continue along the fiscal consolidation path.
The fiscal deficit is projected to be 4.5% of GDP in FY26, amounting to ₹15.9 lakh crore.
However, given global uncertainties, particularly in the external sector, some flexibility in this target could support economic growth. Gross market borrowing is anticipated to be around ₹14.4 lakh crore in FY26 due to an increase in redemptions, as a portion of the COVID-19 pandemic borrowings will be due for repayment.
This is expected to result in a net borrowing of ₹11.2 lakh crore, factoring in ₹4.05 lakh crore in redemptions and a potential switch of ₹75,000–1,00,000 crore. So far in FY25, the government has already conducted ₹1.1 lakh crore in buybacks and ₹1.46 lakh crore in switches.
Clear and proactive communication from policymakers and regulators will be essential in shaping market expectations.
Schemes such as Just-in-Time (JIT), which may impact systemic liquidity, require careful recalibration to account for both primary and secondary effects.
February 01, 08:11
India is preparing to lower tariffs on key goods to protect itself from potential U.S. trade measures under President Donald Trump’s policies. In alignment with Trump’s "America First" agenda, the government is also considering incentives such as tax cuts and land access for U.S. firms in sectors like semiconductors and electronics.
The budget may include tariff reductions on mobile phone assembly components, including printed circuit board assemblies, camera module parts, and USB cables, as India seeks to bolster its role in global supply chains amid U.S.-China trade tensions.
February 01, 08:07
Tax Rates: Following the reduction in corporate tax rates, the gap between personal and corporate tax has widened. The highest marginal tax rate for individuals has now increased to 42.744% under the highest slab and 39% under the new tax regime, compared to the standard corporate tax rate of 25.17%.
India’s high personal tax rates stand out globally, especially when compared to other countries. For instance, the maximum personal income tax rates are 15% in Hong Kong, 18% in Sri Lanka, 25% in Bangladesh, and 22% in Singapore. The significant disparity between individual and corporate tax rates has encouraged many to shift from sole proprietorships to corporate structures.
With two tax regimes in place, individual income tax has become highly complex. Tax rates vary depending on the source of income, and different surcharge rates apply based on total income and capital gains, under both the old and new regimes.
According to Assocham’s pre-Budget memorandum, the maximum marginal tax rates for individuals—42.744% under the old regime and 39% under the new regime—remain significantly higher than corporate tax rates and those in neighbouring countries.
February 01, 08:05
The Indian stock markets will remain open for trading on Saturday, 1 February, as Finance Minister Nirmala Sitharaman presents the Union Budget 2025-26. According to a circular issued by the National Stock Exchange (NSE), trading will follow the standard schedule from 9:15 am to 3:30 pm.
The Bombay Stock Exchange (BSE) has also confirmed that markets will remain open for regular trading hours, with BSE indices calculated on this special trading day. For those interested in pre-market trading, the NSE will operate from 9:00 am to 9:08 am.
February 01, 08:04
The government may introduce changes to the Income Tax Act in the Union Budget 2025, These changes are likely to include: - Replacing complex income computation structures with formulas. - Merging the terms 'assessment year' and 'financial year' into a single definition of 'tax year'. Reducing the number of additional forms taxpayers must submit for tax returns, with such forms made available online. - Using tabular representation for identical taxpayers to enhance clarity.