Union Finance Minister Nirmala Sitharaman will present the Union Budget for the eighth consecutive time on Saturday, making history.
Nirmala Sitharaman, who surpassed the record of former Prime Minister and Finance Minister Morarji Desai last year, is set to present the Union Budget for 2025-26 in Parliament on Saturday.
Finance Minister Sitharaman will deliver the Budget speech in the Lok Sabha at 11 a.m. on Saturday.
This budget session of Parliament, which begins today, will be conducted in two phases: the first phase started on January 31 and concludes on February 13, while the second phase starts on March 10 and concludes on April 4.
The Union Budget for the current year will likely follow the same pattern as this year’s, focusing on equity, growth, and distribution, according to sources.
The government is expected to focus on improving the quality of life in rural areas to ensure that development is both equitable and inclusive.
The Economic Survey 2024-25 highlights financial inclusion as a major focus area, aiming to provide rural households and small businesses with 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 upscale livelihoods in the rural sector.
As a result, welfare schemes to help the poor are likely to receive increased allocations in the Union Budget, as will the agriculture and rural sectors.
The Finance Minister is also expected to continue with the government's policy of increasing investments in large infrastructure projects to spur growth and create more jobs in the economy for the Budget of 2025-26.
There could be sops for the middle class, which is hopeful for a reduction in income tax rates, along with a hike in the standard deduction. Under the old tax regime, the basic income exemption limit is set at ₹2.50 lakh, while for those opting for the new tax regime, the limit is ₹3 lakh.
The lower income tax burden would put more disposable income in the hands of the people, thereby accelerating demand and further boosting 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.
Additionally, some customs duty changes are expected in an effort to correct the inverted duty structure on certain items, aimed at supporting domestic manufacturing. These changes would involve raising tariffs on finished goods and lowering duties on inputs.
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