Union Finance Minister Nirmala Sitharaman is going to present her 8th consecutive budget today, in which the middle class is expected to change income tax rates and slabs to relieve inflation and stable increment. Measures can be taken to promote economic growth in the general budget and to provide relief to the middle class.
The time has come to make a new record of Nirmala Sitharaman. She is going to present the 8th consecutive budget on February 1. This is an important stage of the journey as her Finance Minister, which began in 2019 when she was made India’s first full -time female finance minister. Since then, Sitharaman has presented seven budgets, and his policies have played an important role in shaping the country’s economy. Now their 8th budget is being awaited, which can present new measures to resolve the economic challenges of the country and promote development.
Finance Minister Nirmala Sitharaman’s general budget speech for FY 2025-26 will be in Lok Sabha from 11 am on February 1. What will be the entire schedule of the budget day? Know
Budget day schedule: Understand the full schedule of the budget day from the pointer
- 8:30 am: The Finance Minister will leave his residence for North Block.
- 9:00 am: There will be a photo shoot with the budget team in the North Block.
- 10:00 am: Finance Minister, Minister of State for Finance Pankaj Chaudhary will enter Parliament with the budget.
- 10:15 am: Union cabinet meeting will be held under the chairmanship of PM Modi, approval will be received from cabinet
- 11:00 am: Finance Minister Nirmala Sitharaman will present the budget in the Lok Sabha.
- 12:00 pm: Rajya Sabha proceedings will begin
- 3:00 pm: Nirmala Sitharaman will address a press conference at National Media Center
What are the expectations from budget 2025-26
- The central government can make many major announcements for various areas in the upcoming budget. There is a possibility of increase in PM Kisan Samman Nidhi for farmers, as well as the government can announce on the minimum support price (MSP). Under the Kisan Credit Card, it can also be proposed to increase the loan limit from Rs 3 lakh to five lakh rupees.
- Under women empowerment, the government can make new announcements for women in the budget this time. Especially the old demand for “equal pay for equal work” can also be noted.
- The income tax exemption for the middle class and the tax savings limit under 80C is expected to increase.
- Measures can be taken to simplify the licensing process to overcome the problems of street vendors. Apart from this, the government can increase funds for Ayushman Yojana and PM Awas Yojana, so that more people can benefit.
- The Modi can make several announcements to promote small and medium industries of the government, which may include tax deficiency and the measures for the is of doing business.
- The government’s focus can also be focused on tourism and defense sector, especially in the direction of employment generation. The government can also take big steps regarding rural and agricultural sector, especially while focusing on infrastructure and capital expenses.
- In addition, in view of the upcoming assembly elections, especially in Bihar, Assam, West Bengal, Tamil Nadu, Kerala and Puducherry, the government can plan to give huge gifts to the electoral states. There is also a possibility of special announcements for Bihar.
Special things of Economic Survey 2024-25
Finance Minister Nirmala Sitharaman presented the Economic Survey 2024-25 in Parliament on Friday. The survey stated that India’s GDP may increase at a rate of 6.3-6.8 percent in FY 2025-26 amid global uncertainty. The survey also stated that there are geopolitical risks due to war and stress, which threatens the global economic scenario.
The Economic Survey report stated that India’s service is in balance in the business account due to the trade trade surplus. Due to the export of strong services, the country has reached seventh position in global service exports, which shows India’s competitive ability in this sector.
According to the Economic Survey, inflation is under control. The average inflation has come down to 4.9 in the period of April 25 of FY 25, which was 5.4 percent in FY 24.
The survey said that active policy intervention of the government has been important in stabilizing inflation. These measures include strengthening buffer stocks for essential foods, releasing goods from time to time and efforts to make imports easier during lack of supply. Despite the challenges, there are positive signs for inflation management in India. The Reserve Bank of India and the International Monetary Fund (IMF) estimate that India’s retail inflation will gradually be gradually in accordance with the target of about 4 percent in FY 2026.
Budget session is also likely to be uproar!
The government has listed three other new draft laws along with the Waqf (Amendment) Bill to discuss and pass in the budget session. The government has sought the cooperation of the opposition in running the House in a smooth form. However, like the winter session, the budget session is likely to be uproar. The opposition will try to make a stampede on Wednesday in the ongoing Mahakumbh in Prayagraj as BJP’s failure in this session.
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