Finance Minister Nirmala Sitharaman will present her 8th consecutive Union Budget Today-February 1, 2025, at 11 a.m., moving closer to Morarji Desai’s record of 10 budgets. The budget is expected to boost economic growth, encourage spending, and control the fiscal deficit. As per the Economic Survey 2024-25, India’s GDP is projected to grow between 6.3% and 6.8% in 2025-26, slightly higher than this year’s 6.4% estimate.
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NEW DELHI: Finance Minister Nirmala Sitharaman will present the Union Budget for the eighth time in a row Today- February 1, 2025, at 11 a.m. This is a historic moment, as no other finance minister in recent times has presented so many consecutive budgets.
With this budget, Ms. Sitharaman will move closer to the record held by former Prime Minister Morarji Desai, who presented 10 budgets in different years. This budget is very important as it will aim to support the Indian economy, which is facing some challenges. The government is expected to take steps to increase spending and boost economic growth, while at the same time ensuring that the country does not spend more than it can afford.
Experts believe that the budget will focus on encouraging people to spend more money so that businesses can grow. However, the government also wants to reduce the fiscal deficit, which means it will try not to borrow too much money to run the country.
According to the Economic Survey for 2024-25, which was presented in Parliament on Friday, January 31, 2025, India’s economy is expected to grow between 6.3% and 6.8% in 2025-26. This is slightly better than the estimated growth of 6.4% this year.
This budget will be closely watched by businesses, investors, and the common people, as it will shape the country’s economic future.
As the Union Budget 2025 approaches, people from various sectors are sharing their expectations about what changes and benefits it might bring. Policymakers are considering making changes to the new tax system to reduce income tax for individuals earning up to Rs 10 lakh per year.
Many believe that these changes could help increase people’s take-home income and allow households to save more money.
The Budget comes at a time when the economy is slowing down, so people are hoping for steps that will boost their financial situation. In discussions with the Finance Minister Nirmala Sitharaman, representatives from trade unions suggested some big changes.
They asked for the minimum EPFO (Employees’ Provident Fund Organization) pension to be raised five times to Rs 5,000 per month. They also demanded the immediate creation of the 8th Pay Commission and suggested higher taxes for the super-rich.
On another front, the commerce ministry has pointed out the need to make electric vehicles (EVs) more affordable and efficient.
They are hoping that Budget 2025 will include policies to address these issues and encourage the use of EVs across the country.
These are just some of the expectations and demands from different groups.
As Budget Day approaches, people across the country are watching closely to see how these suggestions will be considered and implemented.
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