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Finance Minister Nirmala Sitharaman will present the Union Budget for 2025, marking her record eighth consecutive budget. This year’s budget is expected to focus on easing the financial strain on the middle class, which is dealing with high prices and stagnant wages, all while being careful with the country’s finances.
According to the Economic Survey presented on Friday, India’s economy is expected to grow between 6.3% and 6.8% in 2025-26. While there is a need for structural reforms and deregulation to support long-term growth, investment is expected to increase in the coming year.
Ahead of the budget, President Droupadi Murmu addressed Parliament, highlighting that the government has worked hard to move the economy past the "policy paralysis" caused by challenges like the COVID-19 pandemic and global uncertainties from the ongoing war.
During the Budget Session, 16 important bills will be tabled, including the Finance Bill 2025, amendments to the Waqf and Banking Regulations Acts, and the merging of the Indian Railways and Indian Railways Board Acts.
This year’s Budget 2025 is expected to focus on tax reforms, housing benefits, incentives for the automobile sector, healthcare advancements, and fintech growth. Additionally, the government is likely to address concerns surrounding Securities Transaction Tax (STT) to boost stock market participation and ease the compliance burden on businesses. The stock market is also expected to react following the budget announcement.
With the budget announcement just hours away, leaders in the energy sector are urging the government to increase investment in renewable energy, support domestic manufacturing, provide financial support, and rationalise the tax structure. Market leaders across the energy spectrum are calling on the government to prioritise investments in solar, wind, green hydrogen, energy storage solutions, and grid modernisation in the upcoming budget.
Stay tuned for live coverage of the Union Budget, where the Ground Report team will provide a special report focusing on the environmental impact of the budget decisions.
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Feb 01, 2025 12:32 IST
Govt focuses on boosting electronics industry and Air cargo infrastructure
FM Nirmala Sitharaman highlighted plans to strengthen the domestic electronics sector and create youth opportunities. A national framework will guide states in developing Global Capability Centers in Tier-2 cities. Additionally, air cargo infrastructure will be improved, focusing on perishable goods and streamlined customs protocols. Reforms remain central to the government’s policies.
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Feb 01, 2025 12:31 IST
Importing drugs and medicines to become cheaper
36 lifesaving drugs and medicines will be added to the list of items fully exempt from Basic Customs Duty. Additionally, 37 more medicines and 13 new patient assistance programs will also be exempted when supplied free to patients.
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Feb 01, 2025 12:29 IST
FM proposes exemption of customs duty on critical minerals
The Finance Minister proposed full exemption of Basic Customs Duty (BCD) on cobalt powder, lithium-ion battery waste, scrap, and 12 other critical minerals to ensure their availability for manufacturing in India and generate job opportunities for youth.
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Feb 01, 2025 12:19 IST
No Income Tax on Income Up to Rs 12 Lakh!
In a major relief for salaried taxpayers, Finance Minister Nirmala Sitharaman announced that no income tax will be levied on income up to Rs 12 lakh.
Here are the latest income tax slabs and rates for FY 2025-26
Rs 0-4 lakh - Nil
Rs 4-8 lakh- 5%
Rs 8-12- 10%
Rs 12-16- 15%
Rs 16-20-20%
Rs 20-24- 25%
Above Rs 24 lakh- 30% -
Feb 01, 2025 11:46 IST
Big relief for homebuyers in stressed housing projects in budget 2025-26
FM Nirmala Sitharaman stated, "Under the SWAMIH 2 Investment Fund, 50,000 dwelling units in stressed housing projects have been completed and keys handed over to homebuyers. Another 40,000 units will be completed in 2025, further helping middle-class families who are paying EMIs on loans taken for apartments while also paying rent for their current dwellings. Building on this success, SWAMIH 2 Fund will be established as a blended finance facility with contributions from the government, banks, and private investors. An additional fund allocation of Rs 15,000 crore will aim for expeditious completion of another one lakh units."
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Feb 01, 2025 11:39 IST
National Institute of Food Technology to be set up in Bihar
Finance Minister Nirmala Sitharaman announced the establishment of the National Institute of Food Technology, Entrepreneurship, and Management in Bihar to boost food processing. She stated, “This will result in enhanced income for farmers through value addition, as well as provide skilling, entrepreneurship, and employment opportunities for the youth."
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Feb 01, 2025 11:36 IST
Urea Plant with annual capacity of 12.7 lakh metric tonnes to be set up in Assam
FM Nirmala Sitharaman announced that a urea plant with an annual capacity of 12.7 lakh metric tonnes will be established in Assam to promote Atmanirbharta in urea production.
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Feb 01, 2025 11:35 IST
PM Swanidhi Scheme to be revamped with credit limit of Rs 30,000
In her Budget speech, FM Nirmala Sitharaman highlighted that the PM Swanidhi Scheme has benefited over 68 lakh street vendors, providing relief from high-interest informal sector loans. She stated, "Building on this success, the scheme will be revamped with enhanced loans from banks and UPI-linked credit cards with Rs 30,000 limit."
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Feb 01, 2025 11:33 IST
Budget to focus on strengthening India's rising middle class
As she rises to present the Union Budget, FM emphasizes that the budget will focus on boosting the spending power of India's growing middle class.
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Feb 01, 2025 11:32 IST
Kisan credit card limit enhanced from Rs 3 lakh to Rs 5 lakh
FM Nirmala Sitharaman announced that the loan limit under the modified interest subvention scheme for Kisan Credit Cards will be increased from Rs 3 lakh to Rs 5 lakh, benefiting 7.7 crore farmers, fishermen, and dairy farmers.
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Feb 01, 2025 11:30 IST
Govt to enhance credit guarantee cover for MSMEs
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 -
Feb 01, 2025 11:29 IST
10,000 additional seats to be added in medical colleges
Finance Minister Nirmala Sitharaman announced the addition of 10,000 new seats in medical colleges while presenting the Union Budget 2025.
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Feb 01, 2025 11:29 IST
Funds for startups
A new ‘Fund of Funds for Startups’ will be launched to boost entrepreneurship, with an additional Rs. 10,000 crore contribution, bringing the total government funding to Rs. 20,000 crore. A new scheme will also support 5 lakh first-time women, Scheduled Castes, and Scheduled Tribes entrepreneurs.
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Feb 01, 2025 11:17 IST
Budget 2025 to focus on 6 key areas: Tax, power, urban development
Income Tax Budget 2025 Live Updates: In her Budget speech, Finance Minister Nirmala Sitharaman highlighted that this year's budget will prioritize reforms across six key areas: taxation, power sector, urban development, mining, financial sector, and regulatory reforms.
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Feb 01, 2025 11:15 IST
Chaos in Parliament as Sitharaman begins budget presentation
Chaos erupted in Parliament as Opposition members protested when Nirmala Sitharaman began her budget presentation.
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Feb 01, 2025 11:14 IST
Budget 2025 prioritizes agriculture as key growth engine: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2025 in Parliament, declared agriculture as the first engine of India’s economic growth. A flagship initiative, the PM Dhandhanya Krisihi Yojana, will be launched to boost agricultural productivity and storage infrastructure in 100 low-productivity districts across the country. The scheme, to be implemented in collaboration with states, aims to benefit 1.7 crore farmers by integrating global best practices and creating ample opportunities in the sector.
Sitharaman also announced a special focus on pulses, particularly urad, tuar, and masoor, to enhance production and meet domestic demand. Highlighting the rising consumption of fruits due to increasing income levels, she emphasized that farmers’ remuneration would improve through state partnerships.
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Feb 01, 2025 10:40 IST
Budget to boost solar, silent on river interlinking
The Union Budget is expected to continue its strong support for solar energy, aligning with India’s renewable energy targets and climate commitments. However, it remains uncertain whether the government will allocate significant resources to contentious projects like river interlinking, which face environmental and logistical challenges.
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Feb 01, 2025 10:31 IST
Nirmala Sitharaman reaches Parliament to present 8th consecutive Budget
Finance Minister Nirmala Sitharaman will present the Union Budget 2025-26 on Saturday, February 1, at 11 a.m., marking her record eighth consecutive budget—a feat that inches her closer to former Prime Minister Morarji Desai’s all-time record of presenting 10 budgets. Amid concerns over slowing economic momentum, the budget is anticipated to strike a balance between stimulating consumption, reviving growth, and maintaining fiscal prudence. Key priorities include measures to bolster weakening demand while adhering to a roadmap for reducing the fiscal deficit, currently projected at 5.9% of GDP for 2024-25.