πUnion Finance Minister Nirmala Sitharaman will table the union budget in the Parliament at 11 am February 1, 2025, marking her eighth consecutive presentation of a Union Budget.
The Union Budget 2025π, which will be the second full budget of Modi 3.0, is expected to be presented by Finance Minister Nirmala Sitharaman in Parliament at 11 am on Saturday, February 1, 2025, marking her eighth consecutive presentation of a Union Budget. This also makes her the first Finance Minister to present eight union budgets in a row.
πThis budget comes in the midst of an economic slowdown due to reduced urban consumption, inflation, and rising unemployment, coupled with India lagging behind in the race for emerging technologies like artificial intelligence, and geopolitical uncertainties surrounding US President Donald Trumpβs decision on tariffs and global policies.
ΰ΅²Nonetheless, the union budget 2025 is expected to focus on easing regulations, provide tax relief and work on boosting the capital expenditure.
The 2025 Union Budgetπ± is expected to place a greater emphasis on the agriculture sector, with potential tax reforms as well. In the last two Budgets, several key changes were introduced by the government, with the Concessional Tax Regime (CTR) gaining a lot of attention. The CTR slabs were revised to provide additional tax saving, encouraging more taxpayers to transition to CTR. These could include phasing out the old tax regime and introducing zero income tax for individuals earning less than Rs 10 lakh per year, though this has not been confirmed.
π‘A key focus will also be balancing fiscal consolidation with economic growth, especially in light of rising inflation.
π―Other significant expectations include granting βindustryβ status to the real estate sector and providing budgetary support for the development and adoption of artificial intelligence (AI). Technology remains a key driver of growth, with innovations in cloud solutions, SaaS technologies, and digital platforms reshaping the travel experience. The tourism industry is home to over 1,500 startups offering tech solutions to travel service providers.
A day before tabling the union budget, FM Sitharaman presented the Economic Survey in Parliament πproviding a detailed analysis of the Indian economy, while focusing on certain key macroeconomic sectors.
β±According to the survey, India's FY26 GDP growth is expected to be in the range of 6.3-6.8 per cent amid global uncertainty. The Economic Survey provides a summary of the performance of the Indian economy, government policies, and the outlook for the upcoming financial year. It is divided into two parts, where Part A analyses economic performance, reflecting on macroeconomic indicators and fiscal trends, while Part B addresses socio-economic issues such as education, poverty, climate change and outlook for GDP growth, inflation, and trade.
βThe survey pointed to the various laws and initiatives that seek to deliver justice at the grassroots level and said rural courts or Gram Nyayalayas settled nearly three lakh cases in the past four years.
πThe survey referred to the Gram Nyayalayas Act, 2008, that aims to provide access to justice at the grassroots level in rural areas. It noted that 313 Gram Nyayalayas disposed of more than 2.99 lakh cases from December 2020 to October 2024.
πConceived as a tool to deliver affordable and quick access to justice, Gram Nyayalayas are today finding it difficult to live up to their purpose due to manpower shortage and financial crunch, the Union law ministry had recently informed Parliament.
πThe survey also referred to the National Legal Services Authority (NALSA), established under the Legal Services Authorities Act in 1987. The authority provides free legal services to disadvantaged sections of society to ensure equal access to justice.