Budget 2025 Live Updates: FM Nirmala Sitharaman to present Union Budget immediately; all eyes on income tax aid, GDP growth

FM Nirmala Sitharaman will present the Union Budget 2025 as a part of Parliament’s Budget session which started on January 31, 2025. The first section of the Budget session will finish on February 13, 2025. Sitharaman’s Budget 2025 speech is eagerly awaited by the center class, frequent man, ladies and salaried taxpayers in hopes of modifications in income tax slabs and income tax charges. Most tax consultants anticipate modifications within the new income tax regime to incentivise its adoption. An income tax aid for the center class would additionally serve the essential aim of boosting consumption, therefore aiding financial growth.

The Economic Survey has additionally projected that India’s financial growth will probably gradual within the upcoming monetary yr, although it has reiterated that India’s home financial fundamentals are nonetheless sturdy. “The fundamentals of the domestic economy remain robust, with a strong external account, calibrated fiscal consolidation and stable private consumption. We expect that the growth in FY26 would be between 6.3 and 6.8 per cent,” says the Economic Survey 2024-2025 doc.

“The Indian economy is on a steady growth path. The macroeconomic health checklist looks good. As the country aims to accelerate its economic growth rate in the coming years, it has the tailwind of strong balance sheets in the domestic corporate and financial sectors,” the survey stated.

Over the previous couple of years, the Narendra Modi authorities has been focusing on report capital expenditure on infrastructure sectors to drive financial growth. The identical method is probably going to proceed, with some enhance in allocations for roadways, highways and Indian Railways. Budget 2025 can also see point out of the bullet practice mission, introduction of recent practice units like Vande Bharat, focus on freight transport and multimodal logistics hubs, and railway station redevelopment initiatives.

Some different main sectors the place the Budget allocation shall be in focus are: defence, training, talent improvement, agriculture, manufacturing, healthcare, journey and tourism, expertise, actual property and so forth. Startups and MSMEs may even discover focus in Union Budget 2025. Artificial intelligence is yet one more buzzword that will discover vital point out within the Budget speech.

While financial stimulus to increase GDP growth is vital, Budget 2025 is probably going to strike a balancing act, given the necessity to stick to the fiscal glide path. Economists and consultants will take a look at FM Sitharaman’s fiscal deficit quantity initiatives for the approaching fiscal years. This is a key indicator of financial and monetary well being.