Budget 2025 Important Points Explained Highlights: Union Finance Minister Nirmala Sitharaman unveiled her eighth consecutive Union Budget on Saturday (February 1). The income tax rebates she announced have been the biggest talking point.
Schemes for the MSME sector, women, farmers, the education sector, boosting exports, etc. have also been announced. The initiatives announced aim to boost self-reliance, with an eye on Atmanirbhar Bharat. Given the widespread discontent among the middle class, the announcement of tax relief has been welcomed. Here are five key takeaways from her speech.
Earlier, the Economic Survey was tabled in Parliament. It projected a growth rate of 6.3-6.8 per cent for the next financial year, stating, “Viksit Bharat@2047 envisions India as a developed nation by 2047, the centenary of our independence. This would entail sustained economic growth of close to 8 per cent every year for at least a decade.”
Scroll down for the Explained live blog, where our senior editors for Economy and Business provided updates from the Budget speech with a side-by-side explanation of the provisions and what they mean.
Finance Minister Nirmala Sitharaman lists four engines of development in the Union Budget 2025-25. These are Agriculture, MSMEs, investments, and exports. She added that the Budget aims to initiate transformative reforms across 6 domains: Taxation, power sector, urban development, mining, financial sector, and regulatory reforms.
She opened her speech: “This budget continues government efforts to a) accelerate growth b) secure inclusive development c) invigorate private sector development d)uplift household sentiments e) enhance spending power of India’s rising middle class. Together we embark on a journey to unlock our nation’s tremendous potential for greater prosperity and global positioning under the leadership of our honourable PM Shri Narendra Modi”
Sitharaman says the govt will promote self sufficiency in pulses, with special focus on production and procurement of toor, urad, and masur. Bihar will get a Makhana board, to boost the cultivation and marketing of fox nuts
Nirmala Sitharaman's speech begins. She says budget will focus on youth, women, farmers. Now she will start with specific proposals, starting with agriculture.
While the Economic Survey sounds sanguine about India’s post-pandemic economic recovery, on the whole, it sounds an alert. “India faces limitations in producing critical goods at the scale and quality required to serve the infrastructure and investment needs of an aspiring economy,” says the preface of the Survey. Read here to understand this point better
The Economic Survey for 2024-25 was tabled by Finance Minister Nirmala Sitharaman in Parliament on Friday. The Survey is a report of the state of the Indian economy in the financial year that is coming to a close. Here are the key points from the survey.
There is a growing sense that the Indian government has been over-taxing its citizens. But is that so? Of course, taxation varies from person to person depending on income and spending patterns but here are five charts that help provide some context.
