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Union Budget 2025 announces key customs duty revisions, making lifesaving drugs, premium cars, and motorcycles cheaper, while imposing higher duties on certain textiles and interactive displays.

Budget 2025: What becomes cheaper and costlier this year

Union Budget 2025 announces key customs duty revisions, making lifesaving drugs, premium cars, and motorcycles cheaper, while imposing higher duties on certain textiles and interactive displays.

Imported life saving drugs and medicines used in the treatment of cancer, rare and other severe chronic diseases, along with imported premium cars and motorcycles, are set to become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in customs duty in the Union Budget 2025-26.
However, certain items like interactive flat panel (touch screen) displays imported as fully built units and certain knitted fabrics will become costlier due to increase in basic customs duties.
In her speech, Sitharaman said, "To provide relief to patients, particularly those suffering from cancer, rare diseases and other severe chronic diseases, I propose to add 36 lifesaving drugs and medicines to the list of medicines fully exempted from basic customs duty (BCD)."&nbsp;
She further said, "I also propose to add six lifesaving medicines to the list attracting concessional customs duty of 5 per cent. Full exemption and concessional duty will also respectively apply on the bulk drugs for manufacture of the above." The finance minister also announced that "specified drugs and medicines under Patient Assistance Programmes run by pharmaceutical companies are fully exempt from BCD, provided the medicines are supplied free of cost to patients." "I propose to add 37 more medicines along with 13 new patient assistance programmes," Sitharaman said. 
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Although the government has cut duties on several imported items, including marbles, granite and footwear, the impact was neutralised by a hike in Agriculture Infrastructure and Development Cess (AIDC).
Significantly, as per the budget announcement imported premium cars and other motor vehicles with CIF (cost, insurance, and freight ) value more than USD 40,000 (about Rs 35 lakh) or with engine capacity more than 3,000 cc for petrol-run vehicles and more than 2,500 cc for diesel-run vehicles or with both will become cheaper as the customs duty has been reduced to 70 per cent from 100 per cent earlier.
Similarly, motorcycles with engine capacity of 1,600 cc and above imported in completely built unit (CBU) form will also be cheaper as tariff has been slashed to 30 per cent from 50 per cent.
Likewise, bikes with engine capacity not exceeding 1,600 cc imported as CBU will also become cheaper as tariff has been cut to 40 per cent from 50 per cent.
Motorcycles with engine capacity not exceeding 1,600 cc in imported semi knocked down (SKD) form and completely knocked down (CKD) form will also become cheaper as customs duties have been cut on these items too.
There will also be reduction in prices of imported motorcycles with engine capacity of 1,600cc and above in SKD form following a cut in custom duty to 20 per cent from 25 per cent and the same imported in CKD form will now attract 10 percent duty, down from 15 per cent.
The budget also announced reduction in customs duty on imported parts of electronic toys to 20 per cent from 25 per cent and that of synthetic flavouring essences and mixtures, used in food and drink industries to 20 per cent from 100 per cent.
Similarly, articles of Jewellery, goldsmiths&rsquo; and silversmiths&rsquo; ware and ethernet switches of carrier grade will also become cheaper.
On the other hand, smart meters, solar cells, imported footwear, imported candles and tapers; imported yachts and other vessels will become costlier as cut in import duties on these items have been offset by an increase in AIDC.
PVC Flex Films, PVC Flex Sheets, PVC Flex Banner will also become costlier due to imposition of 7.5 per cent AIDC.
Certain imported knitted fabrics are also like to be costiler as the custom duty structure on it has been changed to 20 per cent or Rs115/kg, whichever is higher.
Interactive Flat Panel Displays which are imported as completely built units will also become costlier as the duty has been hiked to 20 per cent from 10 per cent earlier. ALSO READ: <a href="https://www.editorji.com/business-news/budget-2025-key-announcements-income-tax-relief-defence-boost-and-infrastructure-investments-1738418460526" target="_blank">Budget 2025 key announcements- Income tax relief, defence boost, and infrastructure investments</a>

FM Nirmala Sitharaman presented the Union Budget 2025-26, focusing on economic recovery, defense modernization, and inclusive growth. Highlights include income tax relief for middle-class taxpayers, Rs 6.81 lakh crore allocated to defense and more.

Budget 2025 key announcements: Income tax relief, defence boost, and infrastructure investments

FM Nirmala Sitharaman presented the Union Budget 2025-26, focusing on economic recovery, defense modernization, and inclusive growth. Highlights include income tax relief for middle-class taxpayers, Rs 6.81 lakh crore allocated to defense and more.

The Union Budget 2025 has been unveiled, outlining a strategic roadmap for India&rsquo;s growth, fiscal stability, and social development. Finance Minister Nirmala Sitharaman delivered the budget speech in Parliament on February 1, 2025, at 11 a.m.
The government has introduced several key initiatives aimed at accelerating economic recovery post-pandemic, promoting inclusive growth, and enhancing India&rsquo;s global competitiveness.
Here&rsquo;s a breakdown of the major announcements, including changes to income tax rates, capital expenditures, new infrastructure projects, and plans for agriculture and defense spending:
<h3> Income Tax Relief for Middle Class </h3>
In her Union Budget 2025 speech, Finance Minister Nirmala Sitharaman announced that individuals earning up to Rs 12 lakh annually will be exempt from paying income tax.
For salaried taxpayers, the exemption limit rises to Rs 12.75 lakh with a standard deduction of Rs 75,000. The Finance Minister also highlighted the simplification of the new income tax regime, aiming to provide greater relief to the middle class....<a href="https://www.editorji.com/business-news/budget-2025-no-income-tax-payable-up-to-rs-12-lakh-under-new-regime-says-fm-nirmala-sitharaman-1738392726418" target="_blank">Read More</a>
<h3> Prioritizing growth, inclusivity, and economic strengthening</h3>
Finance Minister Nirmala Sitharaman presented the Union Budget for 2025-26, focusing on economic growth, inclusive development, and supporting industries. The budget also aimed to boost the purchasing power of India's growing middle class...<a href="https://www.editorji.com/business-news/union-budget-2025-26-prioritizing-growth-inclusivity-and-economic-strengthening-1738389779640" target="_blank">Read more</a>
&nbsp;
<h3>&nbsp;</h3>
<h3>Rs 6.81 Lakh Crore Allocated to Defence&nbsp;</h3>
The Union Budget for 2025-26 has earmarked Rs 6.81 lakh crore for the Ministry of Defence, underscoring the government's focus on modernizing the Armed Forces and aligning with the 'Viksit Bharat @2047' vision.
This allocation, marking a 9.53% increase from the previous year, represents 13.45% of the total Union Budget, the highest among all ministries...<a href="https://www.editorji.com/business-news/budget-2025-government-allocates-rs-6-81-lakh-crore-to-defence-ministry-1738408291086" target="_blank">Read more</a>
<h3>&nbsp;</h3>
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<h3>Rs 11.21 Lakh Crore Allocated for Capital Expenditure in Budget 2025-26; Railways and Roads Remain Unchanged</h3>
Nirmala Sitharaman has allocated Rs 11.21 lakh crore for capital expenditure (capex), reflecting a 0.9% increase from last year's Budget Estimate of Rs 11.11 lakh crore. This allocation is significantly higher when compared to the revised estimate of Rs 10.18 lakh crore for 2024-25. The defence sector received the largest hike in capex, with an increase of 4.6%, totaling Rs 1.8 lakh crore.&nbsp;
The capital outlays for Railways and Roads remain unchanged, at Rs 2.52 lakh crore and Rs 2.72 lakh crore, respectively...<a href="https://www.editorji.com/business-news/budget-2025-rs-11-21-lakh-crore-allocated-for-capital-expenditure-0-9-increase-from-2024-25-1738417607194" target="_blank">Read more</a>
&nbsp;
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<h3>Enhancement to Kisan Credit Card Scheme and Micro-Enterprise Credit Cards</h3>
Finance Minister Nirmala Sitharaman has announced a significant increase in the Kisan Credit Card (KCC) interest subvention limit, raising it from Rs 3 lakh to Rs 5 lakh. In addition, the government will introduce customized credit cards for micro-enterprises with a Rs 5 lakh limit.
These changes aim to simplify credit access, benefiting 7.7 crore farmers, fishermen, and dairy farmers...<a href="https://www.editorji.com/business-news/budget-2025-fm-announces-raising-of-kisan-credit-cards-interest-subvention-limit-to-rs-5-lakh-1738390601203" target="_blank">Read more</a>
<h3> Modified UDAN Scheme to Boost Regional Connectivity</h3>
A modified UDAN scheme announced to enhance regional connectivity by adding 120 new destinations and accommodating 4 crore more passengers, with a focus on developing helipads and smaller airports in remote and northeastern areas...<a href="https://www.editorji.com/business-news/budget-2025-fm-sitharaman-introduces-modified-udan-scheme-to-expand-regional-connectivity-1738400220377" target="_blank">Read more</a>
<h3> PM Dhan Dhanya Krishi Yojana to Boost Agricultural Productivity</h3>
The Union government has introduced the PM Dhan Dhanya Krishi Yojana, targeting 100 low-productivity districts with limited credit access. The initiative aims to enhance rural prosperity by integrating existing agricultural programs with customized solutions. The scheme will be executed in collaboration with state governments...<a href="https://www.editorji.com/business-news/budget-2025-govt-launches-pm-dhan-dhanya-krishi-yojana-to-benefit-1-7-crore-farmers-1738391172060" target="_blank">Read more</a>
<h3> Makhana Board for Bihar</h3>
In her Budget speech, Finance Minister Nirmala Sitharaman proposed the creation of a Makhana Board in Bihar to further promote the state's significant production of foxnuts. Makhana has benefited from the One District One Product scheme, and with its GI tag and the establishment of the Makhana Research Center, the proposal aims to boost its national recognition and market presence...<a href="https://www.editorji.com/business-news/budget-2025-fm-sitharaman-proposes-makhana-board-for-bihar-s-growth-1738391842639" target="_blank">Read more</a>
<h3> Boost to India's startup ecosystem</h3>
Finance Minister Nirmala Sitharaman introduced a new Fund of Funds worth Rs 10,000 crore to further boost India's startup ecosystem. This follows the success of the existing Fund of Funds for Startups (FFS) scheme, which has already garnered over Rs 91,000 crore in commitments...<a href="https://www.editorji.com/business-news/budget-2025-rs-10-000-crore-fund-of-funds-for-startups-announced-1738399225690" target="_blank">Read more</a>
<h3> Enhanced Support for MSMEs</h3>
Finance Minister announced an increased investment and turnover limits for MSMEs in the Union Budget 2025, aiming to boost the sector. Additionally, she introduced customized credit cards with a Rs 5 lakh limit for micro-enterprises registered on the Udyam portal...<a href="https://www.editorji.com/business-news/budget-2025-finance-minister-sitharaman-announces-support-measures-for-msmes-1738400877749" target="_blank">Read more</a>
<h3> Budget 2025 Expands Lifesaving Drug Exemptions</h3>
In the Union Budget 2025-26, Finance Minister Nirmala Sitharaman expanded the list of lifesaving drugs exempt from Basic Customs Duty (BCD). This move includes 36 additional drugs for cancer, rare diseases, and other critical ailments, making essential treatments more affordable for patients in need...<a href="https://www.editorji.com/business-news/budget-2025-fm-expands-custom-duty-exemptions-on-lifesaving-drugs-1738403632739" target="_blank">Read more</a>
<h3> Budget 2025 Boosts Social Security for Gig Workers</h3>
Finance Minister Nirmala Sitharaman announced initiatives to provide social security for gig workers, including identity cards and healthcare access. The plan includes registering gig workers on the e-Shram portal and revamping the PM SVANidhi scheme to invest in street vendors and online workers...<a href="https://www.editorji.com/business-news/budget-2025-fm-announces-id-cards-for-gig-workers-upi-credit-cards-for-street-vendors-1738406585002" target="_blank">Read more</a>
<h3> Mission for Aatmanirbharta in Pulses</h3>
The government has launched a six-year "Mission for Aatmanirbharta in Pulses" to enhance self-reliance in pulses, focusing on increasing the production of tur, urad, and masoor pulses, reducing India's reliance on imports...<a href="https://www.editorji.com/business-news/budget-2025-government-launches-six-year-pulses-mission-for-self-reliance-1738402893545" target="_blank">Read more</a>
<h3> Government&rsquo;s Plan to Boost Tourism&nbsp;</h3>
Finance Minister unveiled a plan to develop India&rsquo;s top 50 tourist destinations through collaboration with state authorities, focusing on infrastructure growth and land allocation for tourism development...<a href="https://www.editorji.com/business-news/budget-2025-government-to-boost-development-of-50-key-tourist-destinations-1738402383730" target="_blank">Read more</a>
<h3> Increased TDS Threshold on Rent for Taxpayers</h3>
Increase in the Tax Deduction at Source (TDS) threshold announced on rent from Rs 2.40 lakh to Rs 6 lakh annually, reducing TDS transactions and easing compliance for small taxpayers...<a href="https://www.editorji.com/business-news/budget-2025-annual-limit-on-tds-on-rent-raised-to-rs-6-lakh-1738401619044" target="_blank">Read more</a>
<h3> FDI Limit in Insurance Sector Raised to 100%</h3>
Government announced a significant change by increasing the Foreign Direct Investment (FDI) limit in the insurance sector from 74% to 100%, with conditions that require companies to invest the entire premium in India...<a href="https://www.editorji.com/business-news/budget-2025-insurance-sector-s-fdi-limit-increased-to-100-1738399706113" target="_blank">Read more</a>
<h3> Nuclear Energy Mission for Clean Transition</h3>
Finance Minister Nirmala Sitharaman introduced a Nuclear Energy Mission in the Union Budget 2025, aiming to develop 100 GW of nuclear energy by 2047, supporting India&rsquo;s goal of becoming a developed nation under the "Viksit Bharat" initiative...<a href="https://www.editorji.com/business-news/budget-2025-india-targets-100-gw-nuclear-energy-by-2047-1738398711566" target="_blank">Read more</a>
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ALSO READ: <a href="https://www.editorji.com/business-news/budget-2025-finance-minister-nirmala-sitharaman-sets-record-with-eighth-consecutive-budget-speech-1738413002437" target="_blank">Finance Minister Nirmala Sitharaman sets record with eighth consecutive budget speech</a>

Finance Minister Nirmala Sitharaman made history by presenting her eighth consecutive Union Budget on February 1, 2025. Her speech lasted just 1 hour and 15 minutes, a significant shorter speech than previous years.

Budget 2025: Finance Minister Nirmala Sitharaman sets record with eighth consecutive budget speech

Finance Minister Nirmala Sitharaman made history by presenting her eighth consecutive Union Budget on February 1, 2025. Her speech lasted just 1 hour and 15 minutes, a significant shorter speech than previous years.

On Saturday, February 1, 2025, Finance Minister Nirmala Sitharaman etched her name in history by presenting her eighth consecutive Union Budget.&nbsp;
This remarkable feat takes place amidst a challenging economic slowdown and growing calls for tax relief for the middle class. With this, Sitharaman moves closer to the record of 10 budgets set by former Prime Minister Morarji Desai.
Desai presented a total of 10 budgets during his tenure, spanning various prime ministers. His term as finance minister saw him present 6 budgets between 1959 and 1964, followed by 4 more between 1967 and 1969.
In comparison, P. Chidambaram and Pranab Mukherjee, each presented 9 and 8 budgets, respectively, under different prime ministers. However, FM Sitharaman stands alone in having presented the most consecutive budgets, with 8 under Prime Minister Narendra Modi&rsquo;s leadership.
Sitharaman&rsquo;s tenure as India's first full-time woman finance minister began in 2019 after Modi's decisive re-election, and she continued in the role after the 2024 general elections when Modi won a third consecutive term.
Here are some notable facts about the Union Budget in independent India:
First Budget by R K Shanmukham Chetty:
<img src="https://cdn.editorji.com/679e0dc0bb46d_1738411456.jpg" width="582" height="327">
The first Union Budget was presented on November 26, 1947, by R K Shanmukham Chetty, India's first finance minister.
 Most Budget Presentations (Morarji Desai): <img src="https://cdn.editorji.com/679e0dcbcb535_1738411467.jpg" width="581" height="326">
Former Prime Minister Morarji Desai holds the record with 10 budgets.
His first budget, presented on February 28, 1959, marked the beginning of his record-breaking tenure. Desai&rsquo;s ten budgets included full budgets and interim ones over multiple terms.
Second Most Budget Presentations (P Chidambaram): <img src="https://cdn.editorji.com/679e0e35dcfb0_1738411573.jpg" width="581" height="326">
P. Chidambaram presented the budget 9 times, including during his term in the Congress-led UPA government. His tenure spanned multiple prime ministers, with budgets presented from 1996 to 2014.
Third Most Budget Presentations (Pranab Mukherjee): <img src="https://cdn.editorji.com/679e0f9c05527_1738411932.jpg" width="581" height="326"> Pranab Mukherjee presented 8 budgets during his time as finance minister, covering several terms between 1982 and 2012, with the last set of budgets presented during the Congress-led UPA government.
Manmohan Singh's Contribution:
<img src="https://cdn.editorji.com/679e0ed05e0f6_1738411728.jpg" width="582" height="327">&nbsp; Former Prime Minister Manmohan Singh, serving as Finance Minister from 1991-1995, presented five straight budgets, which included significant economic reforms.
Longest Budget Speech (Nirmala Sitharaman):
<img src="https://cdn.editorji.com/679e0f1c1d3a7_1738411804.jpg" width="581" height="326">
Sitharaman holds the record for the longest Budget speech, having delivered a 2-hour and 42-minute address on February 1, 2020. She even cut her speech short with two pages remaining.
Longest budget speeches in Indian history (by duration):
<ul>
<li>2 hours 42 minutes: Nirmala Sitharaman (2020)</li>
<li>2 hours 17 minutes: Nirmala Sitharaman (2019)</li>
<li>2 hours 13 minutes: Jaswant Singh (2003)</li>
<li>2 hours 10 minutes: Arun Jaitley (2014)</li>
</ul>
 Longest Speech (By word count):
<ul>
<li>Manmohan Singh (1991) - 18,650 words</li>
<li>Arun Jaitley (2018) - 18,604 words</li>
</ul>
 Shortest Budget Speech:
<img src="https://cdn.editorji.com/679e106b72a78_1738412139.jpg" width="581" height="326">
The shortest Budget speech in history was delivered by Hirubhai Mulljibhai Patel in 1977, lasting only 800 words.
Nirmala Sitaraman&rsquo;s all budget speeches (before 2025):
<ul>
<li>Budget 2024-25: 1 hour and 25 minutes&nbsp;</li>
<li>Interim Budget 2024: 57 minutes</li>
<li>2023 Budget: 1 hour and 30 minutes&nbsp;</li>
<li>2022 Budget: 1 hour 30 minutes</li>
<li>2021 Budget (first paperless speech): 1 hour and 40 minutes</li>
<li>2020 Budget (longest budget speech):&nbsp; 2 hours and 42 minutes</li>
<li>2019 Budget:&nbsp; 2 hours and 17 minutes</li>
</ul>
 Sitharaman's Latest Budget Speech Duration:
<img src="https://cdn.editorji.com/679e11202ca25_1738412320.jpg" width="581" height="326">
On February 1, 2025, Nirmala Sitharaman presented her budget speech in just 1 hour and 15 minutes, making it her shortest since 2019, except for the 57-minute address during the interim budget of 2024.
Traditional Timing: Traditionally, the Union Budget was presented on the last day of February at 5 p.m., a colonial-era practice that synchronized announcements in both India and London. In 1999, Finance Minister Yashwant Sinha shifted the Budget presentation time to 11 a.m., a timing that has been followed since.
Change in Presentation Date: In 2017, the Budget presentation was moved to February 1 to allow faster parliamentary approval and implementation of the Budget starting from April 1. This change helped avoid delays, as presentations made in late February would lead to late implementation due to lengthy parliamentary processes.

The Economic Survey 2024-25 projects India’s economic growth between 6.3% and 6.8% in FY26, supported by strong economic fundamentals, rising formal employment, and a stable external account.

India’s economic growth projected at 6.3%-6.8% in FY26: Economic Survey 2024-25

The Economic Survey 2024-25 projects India&rsquo;s economic growth between 6.3% and 6.8% in FY26, supported by strong economic fundamentals, rising formal employment, and a stable external account.

India's economy is projected to grow between 6.3% and 6.8% in FY26, as per the Economic Survey 2024-25, which was tabled in Parliament by Finance Minister Nirmala Sitharaman on Friday.&nbsp;
The survey emphasizes that India's economic fundamentals are strong, backed by a stable external account, fiscal consolidation, and steady private consumption.
The government aims to boost long-term industrial growth by focusing on areas like research and development (R&amp;D), micro, small, and medium enterprises (MSMEs), and capital goods. These initiatives are designed to enhance productivity, innovation, and global competitiveness.
According to the survey, "The fundamentals of the domestic economy remain robust, with a strong external account, calibrated fiscal consolidation and stable private consumption. On balance of these considerations, we expect that the growth in FY26 would be between 6.3 and 6.8 percent."
The survey also forecasts that food inflation will ease in the fourth quarter of FY25, thanks to the seasonal drop in vegetable prices and the arrival of the Kharif harvest. A good Rabi production is expected to help control food prices in the first half of FY26.&nbsp;
However, risks to inflation persist, such as adverse weather conditions and rising international agricultural prices. On a positive note, global energy and commodity prices have softened, providing stability to the core inflation outlook. Still, the global political and economic uncertainty remains a challenge.
India's foreign exchange reserves remain strong, covering 90% of external debt and offering an import cover for over ten months.
The reserves increased from USD 616.7 billion in January 2024 to USD 704.9 billion in September 2024, before moderating to USD 634.6 billion as of January 3, 2025. The stability in capital flows has played a crucial role in supporting India's external position.
The survey also highlights substantial growth in formal employment, with net Employees' Provident Fund Organisation (EPFO) subscriptions more than doubling from 61 lakh in FY19 to 131 lakh in FY24.
It stated, "The formal sector in India has seen significant growth, with net Employees' Provident Fund Organisation (EPFO) subscriptions more than doubling from 61 lakh in FY19 to 131 lakh in FY24."
Overall, the Economic Survey paints a positive picture for India's economic prospects in FY26, driven by strong macroeconomic fundamentals, rising formal employment, and robust external reserves.
However, the economy faces challenges from global uncertainties, adverse weather conditions, and international price fluctuations.

Finance Minister Nirmala Sitharaman tabled the Economic Survey for 2024-25 in Parliament, revealing a 5.4% GDP growth for Q2 2024-25. 

FM Nirmala Sitharaman tables Economic Survey 2024-25 in Lok Sabha

Finance Minister Nirmala Sitharaman tabled the Economic Survey for 2024-25 in Parliament, revealing a 5.4% GDP growth for Q2 2024-25.&nbsp;

Finance Minister Nirmala Sitharaman has presented the Economic Survey for 2024-25 in both the Lok Sabha and Rajya Sabha.&nbsp;
Following this, the houses were adjourned for the day. As per tradition, the Finance Minister tabled this pre-budget document, which provides an in-depth view of the state of the economy, one day ahead of the Union Budget for the fiscal year 2025-26.
<h3>Understanding the Economic Survey</h3>
The Economic Survey, crafted by the Economic Division of the Department of Economic Affairs in the Ministry of Finance and overseen by the Chief Economic Adviser, offers key insights into the economy&rsquo;s performance during 2024-25 (April-March).&nbsp;
It also provides an outlook for the next fiscal year and often gives an indication of the tone and direction of the upcoming Union Budget. The Economic Survey has been presented separately from the Budget since the 1960s, but it originally began as part of the budget documents in 1950-51.
<h3>Economic Growth and Outlook</h3>
India&rsquo;s economy grew by 5.4 percent in real terms during the July-September quarter of 2024-25. This growth was slower than the Reserve Bank of India&rsquo;s (RBI) forecast of 7 percent for the quarter.&nbsp;
The growth in the April-June quarter also fell short of the RBI&rsquo;s earlier projections. In light of this, the RBI has revised its growth forecast for 2024-25 down to 6.6 percent, compared to the earlier estimate of 7.2 percent.&nbsp;
However, the government expects a growth rate of 6.4 percent for the fiscal year. Despite these slower quarters, India&rsquo;s GDP grew by 8.2 percent in 2023-24, maintaining its position as the fastest-growing major economy, following growth rates of 7.2 percent in 2022-23 and 8.7 percent in 2021-22.
<h3>Budget Session 2025</h3>
The budget session of Parliament is scheduled to begin on January 31 and will conclude on April 4. The Union Budget for 2025-26 will be presented on February 1.&nbsp;
Finance Minister Sitharaman will deliver her budget speech at 11 am in the Lok Sabha, where she will outline the government&rsquo;s fiscal policies, revenue and expenditure plans, taxation reforms, and other significant proposals.&nbsp;
With this upcoming budget, Sitharaman will have presented her eighth budget.

As the Budget session of Parliament begins, Prime Minister Narendra Modi emphasizes that this is the first session without foreign interference since 2014.

First time since 2014 no foreign attempts to stoke trouble before Parliament session: PM Modi

As the Budget session of Parliament begins, Prime Minister Narendra Modi emphasizes that this is the first session without foreign interference since 2014.

As the Budget Session 2025-26 begins, Prime Minister Narendra Modi highlighted that this is the first Parliament session since 2014 where he witnessed "no foreign interference."&nbsp;
&nbsp;
<blockquote class="twitter-tweet">
<a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | <a href="https://twitter.com/hashtag/BudgetSession?src=hash&amp;ref_src=twsrc%5Etfw">#BudgetSession</a> | PM Narendra Modi says, "You must have noticed, since 2014, this is the first Parliament session, which saw no 'videshi chingari' (foreign interference) in our affairs, in which no foreign forces tried to ignite a fire. I had noticed this before every&hellip; <a href="https://t.co/WWPDw0LGmS">pic.twitter.com/WWPDw0LGmS</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/1885192863765717361?ref_src=twsrc%5Etfw">January 31, 2025</a></blockquote>
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Speaking to the media before heading into Parliament, PM Modi said, "You must have noticed, since 2014, this is the first Parliament session, which saw no 'videshi chingari' (foreign interference) in our affairs, in which no foreign forces tried to ignite a fire. I had noticed this before every budget session. And many in our country leave no stone unturned to fan these sparks. This is the first session without any foreign meddling."
Focusing on the government's priorities for its third term, PM Modi emphasized that the key areas of "Innovation, inclusion, and investment" have been crucial in the nation&rsquo;s economic progress.&nbsp;
He noted, "In the third term, in the Mission MODE, we will make the country head towards all-round development, whether it is geographical, social, or economic. We are heading towards Mission MODE. Innovation, inclusion and investment have been primary in our economic growth."
He further reiterated the importance of reform, performance, and transformation. "Reform, perform and transform. When we have to achieve the pace of development, the most emphasis is on reform, and central and state governments have to perform, and transformation can be witnessed through public participation," the Prime Minister added.
The Prime Minister also touched on the key legislative business expected during the session.&nbsp;
"In this session, as always, many historic bills will be discussed in the House, and after extensive brainstorming, they will become laws that will strengthen the nation. Specially to re-establish the pride of women power, to ensure that every woman gets a respectable life and equal rights without any discrimination of caste and creed; many important decisions will be taken in this session in this direction," he stated.
PM Modi also expressed optimism about the young generation benefiting the most from the vision of Viksit Bharat. "Ours is a young nation, and today 20-25-year-olds will be the greatest beneficiaries of Viksit Bharat by the time they will be 50 years old... They will be at the helm of policymaking... The efforts to fulfil our vision of Viksit Bharat will be a huge gift for our young generation."
&nbsp;
<blockquote class="twitter-tweet">
<a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | <a href="https://twitter.com/hashtag/BudgetSession?src=hash&amp;ref_src=twsrc%5Etfw">#BudgetSession</a> | PM Modi says, "Ours is a young nation, and today 20-25-year-olds will be the greatest beneficiaries of Viksit Bharat by the time they will be 50 years old...They will be at the helm of policymaking... The efforts to fulfil our vision of Viksit Bharat&hellip; <a href="https://t.co/H7vtn4huNF">pic.twitter.com/H7vtn4huNF</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/1885193282311119064?ref_src=twsrc%5Etfw">January 31, 2025</a></blockquote>
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He went on to describe this Budget session as a "golden opportunity" for MPs, especially young ones, to contribute to strengthening Viksit Bharat.&nbsp;
"In this budget session, all MPs will contribute to strengthening Viksit Bharat, especially the young MPs, since it is a golden opportunity for them. They will be witness to Viksit Bharat... I hope that we will stand up to the hopes and expectations of people..." he said.
&nbsp;
<blockquote class="twitter-tweet">
<a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | PM Modi says, "In this budget session, all MPs will contribute to strengthening Viksit Bharat, especially the young MPs, since it is a golden opportunity for them. They will be witness to the Viksit Bharat... I hope that we will stand up to the hopes and expectations of&hellip; <a href="https://t.co/2s9VHJnrLp">pic.twitter.com/2s9VHJnrLp</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/1885194059444339102?ref_src=twsrc%5Etfw">January 31, 2025</a></blockquote>
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Before the start of the session, the Prime Minister also paid his respects, saying, "Ahead of the Budget Session, I bow down to Maa Lakshmi, the goddess of wealth and prosperity..."
The Budget session of Parliament will begin with President Droupadi Murmu addressing the joint sitting of both Houses. Following this, Union Finance Minister Nirmala Sitharaman will present the Economic Survey ahead of the Union Budget, which will be presented on Saturday.&nbsp;
The Economic Survey, prepared by the Ministry of Finance's Economic Division under the guidance of the Chief Economic Adviser, will provide insights into the current state of the economy, along with outlooks for the fiscal year 2024-25.
Several significant bills are expected to be discussed, including the Banking Laws (Amendment) Bill, 2024, which aims to strengthen banking oversight, and the Railways (Amendment) Bill, 2024, focusing on improving the efficiency of Indian Railways. Other notable bills include the Disaster Management (Amendment) Bill, 2024, the Waqf (Amendment) Bill, 2024, the Oilfields (Regulation and Development) Amendment Bill, 2024, the Boilers Bill, 2024, the Coastal Shipping Bill, 2024, and the Finance Bill, 2025.
The first part of the Budget session will continue until February 13, after which Parliament will reconvene on March 10 following a recess, with the session concluding on April 4.

The Budget Session of Parliament 2025 kicks off with President Droupadi Murmu’s address, followed by the presentation of the Economic Survey by Finance Minister Nirmala Sitharaman.

Budget session begins today; Finance Minister to present Economic Survey

The Budget Session of Parliament 2025 kicks off with President Droupadi Murmu&rsquo;s address, followed by the presentation of the Economic Survey by Finance Minister Nirmala Sitharaman.

The Budget Session of Parliament begins today, with President Droupadi Murmu addressing a joint sitting of both Houses at 11 AM. Following this, Union Finance Minister Nirmala Sitharaman will present the Economic Survey ahead of the Union Budget announcement on Saturday. The survey will be tabled in the Lok Sabha at noon and in the Rajya Sabha at 2 PM.
Prime Minister Narendra Modi and Lok Sabha Speaker Om Birla have arrived at Parliament as the session gets underway.
&nbsp;
<blockquote class="twitter-tweet">
Delhi | PM Modi arrives in Parliament as the Budget session begins today <a href="https://t.co/Iz00rcnw5r">pic.twitter.com/Iz00rcnw5r</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/1885189001453461874?ref_src=twsrc%5Etfw">January 31, 2025</a></blockquote>
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Several Union Ministers, including Home Minister Amit Shah, are also present.
The Economic Survey, prepared by the Economic Division of the Department of Economic Affairs under the supervision of the Chief Economic Adviser, provides an analysis of the economy's performance for 2024-25 and offers projections for the next fiscal year. This session is expected to take up several key legislative proposals, including the Banking Laws (Amendment) Bill, 2024, aimed at enhancing banking regulations, and the Railways (Amendment) Bill, 2024, which seeks to improve railway operations.
Other notable bills on the agenda include the Disaster Management (Amendment) Bill, 2024, which aims to bolster disaster response mechanisms, and the Waqf (Amendment) Bill, 2024, alongside the Mussalman Wakf (Repeal) Bill, 2024, both of which propose reforms in religious endowment management. The Oilfields (Regulation and Development) Amendment Bill, 2024, will introduce updates to oil exploration laws, while the Boilers Bill, 2024, focuses on strengthening industrial safety standards.
Additionally, the Readjustment of Representation of Scheduled Tribes in Assembly Constituencies of the State of Goa Bill, 2024, seeks to restructure assembly constituencies for better tribal representation. Maritime laws will also see reforms with the Bills of Lading Bill, 2024, Carriage of Goods by Sea Bill, 2024, Coastal Shipping Bill, 2024, and the Merchant Shipping Bill, 2024. The Finance Bill, 2025, remains a crucial legislative item, as it will implement budgetary proposals and tax reforms announced by the Finance Minister on February 1.
Other key bills include the Protection of Interests in Aircraft Objects Bill, 2025, which aims to safeguard aviation-related financial interests, and the Immigration and Foreigners Bill, 2025, which will introduce changes to immigration laws.
The session will also feature discussions on the Demands for Grants for 2025-26, which outline government spending plans across various sectors such as infrastructure, healthcare, education, and defense. Following the discussions, the Appropriation Bill will be introduced and passed to authorize these expenditures. Additionally, the Second and Final Batch of Supplementary Demands for Grants for 2024-25 will be reviewed to accommodate unanticipated government expenses.
Further, the session will address the Demands for Excess Grants for 2021-22, covering additional funds required beyond initial budget allocations. These demands will undergo discussion, voting, and approval through an accompanying Appropriation Bill.
Following an all-party meeting on Thursday, Parliamentary Affairs Minister Kiren Rijiju stated that "tentatively 16 items of legislative business and three items of financial business have been identified for being taken up during this session." He also confirmed that the government is prepared to discuss any other pressing issues as per parliamentary procedures.
The first phase of the Budget Session will run until February 13, after which both Houses will reconvene on March 10 following a recess. The session is scheduled to conclude on April 4.

Ahead of the 2025 Budget session, the government convened a meeting with floor leaders of all political parties to discuss the legislative agenda and gather input on issues to be raised. The session begins with the President's address on February 1.

Govt convenes all-party meet ahead of Budget session

Ahead of the 2025 Budget session, the government convened a meeting with floor leaders of all political parties to discuss the legislative agenda and gather input on issues to be raised. The session begins with the President's address on February 1.

The government on Thursday convened a meeting of floor leaders of all political parties ahead of the Budget session of Parliament.
The session commences on Friday with the address of the president to the joint sitting of the two Houses.
The Union Budget will be presented on February 1.
The first leg of the session will conclude on February 13 and the second leg will continue from March 10. The session will conclude on April 4.
Defence Minister Rajnath Singh is chairing the customary meet which is convened to inform political parties about the government's legislative agenda and to seek their inputs on the issues they wold like to raise during the session.
Several leaders, including BJP president and Union minister J P Nadda, Gaurav Gogoi and Jairam Ramesh of the Congress, T R Baalu of the DMK, Sudip Bandhyopadhyay and Derek O' Brien of the TMC are attending the meeting.
Parliamentary Affairs Minister Kiren Rijiju was also present.

Finance Minister Nirmala Sitharaman will present the Union Budget 2025 on February 1, with a key focus on reviving India’s economic growth amidst global uncertainties.

Union Budget 2025: Key faces behind Finance Minister Nirmala Sitharaman's budget team

Finance Minister Nirmala Sitharaman will present the Union Budget 2025 on February 1, with a key focus on reviving India&rsquo;s economic growth amidst global uncertainties.

Finance Minister Nirmala Sitharaman on February 1 will present her 8th budget, with the responsibility of addressing multiple demands and stimulating India's slowing growth.&nbsp;
The final stage of budget preparations was marked by the traditional &lsquo;halwa ceremony&rsquo; on Friday.&nbsp;
Here&rsquo;s a closer look at the key officials who will shape India&rsquo;s fiscal future in the coming year.
The officials responsible for managing revenue collection, public expenditure, and policies affecting various sectors of the economy play an essential role in shaping the country&rsquo;s economic landscape.
<h3>Tuhin Kanta Pandey &ndash; Finance and Revenue Secretary</h3>
Tuhin Kanta Pandey, a 1987 batch Odisha cadre IAS officer, was recently appointed Finance and Revenue Secretary. Pandey's role includes mobilizing revenue through taxation and addressing demands for tax cuts and incentives.
Previously, he served as Secretary of the Department of Investment and Public Asset Management (DIPAM), where he led the government&rsquo;s disinvestment strategy.
Ahead of the budget, Pandey will oversee the potential overhaul of income tax laws, with changes possibly being introduced in the upcoming session.
<h3>V Anantha Nageswaran &ndash; Chief Economic Adviser</h3>
V Anantha Nageswaran, Chief Economic Adviser, is responsible for preparing the Economic Survey, which serves as a key guide for economic policies. Nageswaran, an IIM Ahmedabad alumnus with a doctorate from the University of Massachusetts, brings experience from academia and financial markets. His Economic Survey is expected to focus on reforms aimed at boosting private investment, supporting entrepreneurship, and facilitating India&rsquo;s growth amidst global uncertainties.
<h3>Manoj Govil &ndash; Secretary, Department of Expenditure</h3>
Manoj Govil, a 1991 batch IAS officer from Madhya Pradesh, manages government spending as the Secretary of the Department of Expenditure. Before taking on this role, Govil served as Secretary of the Ministry of Corporate Affairs. His responsibilities include rationalizing subsidies, managing centrally sponsored schemes, and ensuring public expenditure efficiency. With the government focusing on both welfare spending and fiscal discipline, Govil will work to ensure spending aligns with revenue targets.
<h3>Ajay Seth &ndash; Secretary, Department of Economic Affairs</h3>
Ajay Seth, a 1987 batch Karnataka cadre IAS officer, heads the Department of Economic Affairs and plays a key role in preparing budget documents and maintaining macroeconomic stability. Seth will focus on balancing growth with fiscal consolidation, particularly as the government works towards a debt target under its fiscal framework. His department will also help craft policies to ensure economic stability amidst global financial shifts.
<h3>M Nagaraju &ndash; Secretary, Department of Financial Services</h3>
M Nagaraju, a 1993 batch Tripura cadre IAS officer, oversees the Department of Financial Services, with a focus on credit flow, fintech regulation, and the expansion of the insurance sector. Nagaraju&rsquo;s previous experience in the Ministry of Coal, where he contributed to opening the coal sector to private players, is valuable in his current role. He is responsible for strengthening India&rsquo;s banking and financial services sector and driving financial inclusion through digital services.
<h3>Arunish Chawla &ndash; Secretary, DIPAM &amp; DPE</h3>
Arunish Chawla, a 1992 batch Bihar cadre IAS officer, leads the Department of Investment and Public Asset Management (DIPAM) and the Department of Public Enterprises (DPE). Chawla&rsquo;s key responsibility is driving the government&rsquo;s disinvestment program and monetizing state-owned assets. He will oversee the strategic sale of IDBI Bank and other public sector enterprises, while also working on plans to raise funds through asset monetization for public spending. His experience in both the pharmaceuticals sector and government administration makes him a pivotal figure in managing the government&rsquo;s financial assets.

Union Finance Minister Nirmala Sitharaman will present the Union Budget 2025 on February 1 at 11 a.m., continuing the paperless tradition.

Budget 2025: When and were to watch Finance Minister Nirmala Sitharaman's 8th consecutive budget

Union Finance Minister Nirmala Sitharaman will present the Union Budget 2025 on February 1 at 11 a.m., continuing the paperless tradition.

Finance Minister Nirmala Sitharaman is set to present the Union Budget 2025 on Saturday, February 1, marking her 8th consecutive budget.
This will also be the second full-fledged financial budget of Prime Minister Narendra Modi's government in its third term.
Following the trend set in recent years, the Union Budget will be entirely paperless, reflecting the government&rsquo;s commitment to digitization.
<h3>What is the Union Budget?</h3>
The Union Budget is the government's financial blueprint for the upcoming fiscal year, detailing expected revenues, expenditures, and fiscal policies.
Covering the period from April 1 to March 31, the budget shapes the nation&rsquo;s economic priorities, allocates resources across sectors, and proposes changes to key legislation such as the Income-tax Act of 1961.
Often referred to as the "bahi-khaata" since 2019, the budget also reflects broader fiscal strategies and economic policies.
<h3>Date, Time, and Venue</h3>
The Union Budget 2025 will be presented in Parliament at 11 a.m. on February 1 by Finance Minister Sitharaman, continuing the tradition of annual budget presentations in the Lok Sabha.
<h3>Budget Preparation Timeline</h3>
Work on the Union Budget 2025 began in October 2024, with extensive consultations between the Finance Ministry and various government departments to finalize financial estimates and priorities.
In December 2024, Prime Minister Modi held discussions with economists and industry leaders to gather insights and refine the budget framework.
<h3>Where to watch the Union Budget Presentation</h3>
The live presentation of the budget can be viewed on:
Television: Doordarshan, Sansad TV, and other official government channels Online Streaming: Government and other media YouTube channels Live Blogs: Websites that provide real-time updates and analysis
<h3>Digital Access to Budget Documents</h3>
The full set of budget documents, including the Annual Financial Statement, Finance Bill, and Demand for Grants, will be available for download on the official Union Budget website (<a href="https://www.indiabudget.gov.in/" target="_blank">www.indiabudget.gov.in</a>) and through the Union Budget Mobile App. Users can access the documents in both Hindi and English for convenience.
<h3>Halwa Ceremony</h3>
The Halwa Ceremony, an annual tradition, marks the commencement of the "lock-in" phase for budget preparation. Held at the North Block, this ceremony involves the preparation of the Indian sweet dish halwa in a large kadhai.
The Finance Minister leads the ceremony by stirring the kadhai and serving the halwa to the officials involved in drafting the budget. This gesture is a token of appreciation for the hard work and dedication of the Finance Ministry team.
The Halwa Ceremony also signifies the start of printing budget documents, paving the way for their presentation in Parliament. It is a symbolic and celebratory moment in the budget-making process.
This year, the ceremony was held on January 24, where the Finance Minister Nirmala Sitharaman, inspected the Budget Press facilities, and conveyed her best wishes to the officials involved in the process.
<h3>Significance of the Ceremony</h3>
The halwa ceremony holds great significance as it marks the commencement of the finance ministry's lockdown period.
During this phase, officials involved in budget preparation remain within the ministry compound and are only allowed to leave after the Union Budget is officially presented in Parliament.
Since 1980, the printing of the budget has been a secured process conducted in the basement of the North Block.
The 2025 budget session of Parliament is scheduled to begin on January 31 and conclude on April 4. Finance Minister Nirmala Sitharaman will present the Union Budget on February 1.
On January 31, President Droupadi Murmu will address a joint session of both houses of Parliament. Following an inter-session break from February 14, the two houses will reconvene on March 10 to continue their sittings.

Arvind Kejriwal criticizes the marginalization of the middle class in India and calls for the next budget to prioritize their needs. He demands increased funding for education and healthcare, tax exemptions, and better support for senior citizens.

Kejriwal slams 'tax terrorism' on middle class, presents seven demands ahead of budget session

Kejriwal slams "tax terrorism" on middle class, presents seven demands ahead of budget session

Arvind Kejriwal criticizes the marginalization of the middle class in India and calls for the next budget to prioritize their needs. He demands increased funding for education and healthcare, tax exemptions, and better support for senior citizens.

Aam Aadmi Party (AAP) national convener Arvind Kejriwal raised concerns about the plight of the middle class in Delhi on Wednesday, criticizing the political landscape that he believes marginalizes this group.&nbsp;
He pointed out that the middle class is caught between the "notebank" and "votebank" that other parties have created. Kejriwal emphasized that the middle class has become the victim of what he called "tax terrorism."&nbsp;
&nbsp;
<blockquote class="twitter-tweet">
<a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | <a href="https://twitter.com/hashtag/DelhiElections2025?src=hash&amp;ref_src=twsrc%5Etfw">#DelhiElections2025</a> | Delhi: AAP National Convenor Arvind Kejriwal says, "... We demand that the next Budget of the country be dedicated to the middle class. Today, I am making 7 demands to the central government... 1st, the education budget should be increased to 10%&hellip; <a href="https://t.co/Xg0AifPAL8">pic.twitter.com/Xg0AifPAL8</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/1881960652400697696?ref_src=twsrc%5Etfw">January 22, 2025</a></blockquote>
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In a video message, he stated, "Some parties have created their votebank in the name of religion and caste and they make promises for a few industrialists so that they donate money. Between this notebank (industrialists) and votebank (others), the middle class is nowhere to be seen. The middle class has been crushed between them. The middle class of India has become the ATM of the government. The truth remains that the Indian middle class is the victim of tax terrorism."
Kejriwal also highlighted a worrying trend of emigration, noting that "In 2023 itself (approximately) 2.16 lakh people have left the country." He reassured the public that his government had made efforts to ease the burdens on the middle class, such as increasing the education budget, reducing electricity and water bills, and planning to implement the Sanjeevani Yojana after the elections, which would provide free treatment to the elderly.
He promised that AAP would serve as a voice for the middle class, pledging to address their concerns in the upcoming budget session of Parliament, which is set to begin in two weeks.&nbsp;
Kejriwal outlined seven key demands ahead of the session, stressing that the next budget should be focused on the middle class. "We demand that the next budget of the country be dedicated to the middle class," he declared.
Among his key demands were an increase in the education budget from two percent to 10 percent, along with the regulation of private school fees and subsidies for higher education. He also called for an increase in the health budget to 10 percent and the removal of taxes on health insurance.&nbsp;
Kejriwal further advocated for an increase in the income tax exemption limit from seven lakh rupees to 10 lakh rupees and the abolition of GST on essential commodities.
Additionally, he urged the central government to restore the 50 percent railway concession for senior citizens and called for comprehensive retirement plans and pension schemes for senior citizens.&nbsp;
"Strong retirement plans and pension schemes should be made for senior citizens and senior citizens should be given free and good treatment in all government and private hospitals across the country," Kejriwal added.

According to an ICRA report, the government may offer minor tax relief to personal income taxpayers in the upcoming FY2026 Union Budget, while maintaining stable revenue flows. 

ICRA report forecasts tax relief and economic outlook for FY2026

According to an ICRA report, the government may offer minor tax relief to personal income taxpayers in the upcoming FY2026 Union Budget, while maintaining stable revenue flows.&nbsp;

The government is anticipated to offer some relief to personal income taxpayers in the Union Budget for FY2026, according to an ICRA report. While the report suggests the possibility of modest tax relief, it highlights that these measures are unlikely to significantly impact overall revenue collections. The government's cautious stance is aimed at maintaining stable and predictable tax inflows. The report stated, "While there may be some tax relief to personal income taxpayers in the Budget, ICRA believes that its impact on revenues is unlikely to be material, to ensure stable and predictable tax flows in the fiscal."
ICRA forecasts a 12% growth in direct tax collections for FY2026, primarily driven by higher income and corporate tax revenues. Indirect taxes are projected to increase by 9%, with GST collections expected to rise by 10.5%. Customs duty inflows are forecast to grow at a slower rate of 5%, with potential uncertainties arising from changes in US tariff policies. The overall growth in gross tax revenue (GTR) for FY2026 is anticipated to slightly exceed the nominal GDP growth forecast of 10%, suggesting a tax buoyancy of 1.1.
While a reduction in the revenue deficit is likely, the fiscal deficit in absolute terms is expected to rise to Rs 16 trillion in FY2026, up from Rs 15.4 trillion in FY2025. However, as a percentage of GDP, the fiscal deficit is projected to decrease to 4.5% from 4.8% in FY2025, reflecting the government's fiscal consolidation efforts. The report added, "ICRA awaits a forward-looking guidance on fiscal deficit targets or Central Government debt/GDP, even as the recommendations by the 16th Finance Commission will also be key, which may be released later in the fiscal."
Regarding capital expenditure, ICRA predicts a capex of approximately Rs 11 trillion for FY2026, aligning with the previous year's budget announcements but representing a 12-13% increase compared to the expected expenditure of Rs 9.7 trillion in FY2025. This increased capex is consistent with the government's emphasis on stimulating manufacturing, generating employment, and boosting skill development in response to the slowdown in urban consumption and investment activity observed in FY2025. The report also emphasizes the importance of non-tax revenues, particularly the Reserve Bank of India's (RBI) dividend, in managing the fiscal deficit and creating additional space for capital expenditure in FY2026.
The upcoming budget is expected to focus on promoting economic growth while maintaining fiscal discipline, ensuring the long-term sustainability of public finances.

Chief Election Commissioner Rajiv Kumar announced that no Delhi-specific provisions would be allowed in the Union Budget to maintain electoral fairness. 

No Delhi-specific provision can be made in Union Budget: CEC Rajiv Kumar

Chief Election Commissioner Rajiv Kumar announced that no Delhi-specific provisions would be allowed in the Union Budget to maintain electoral fairness.&nbsp;

The Election Commission will write to the cabinet secretary, informing that no Delhi-specific provision can be made in the Union Budget that can disturb the level-playing field, CEC Rajiv Kumar said on Tuesday.
Polling for the 70-member Delhi Assmebly will be held on February 5 and the votes counted on February 8, Chief Election Commissioner (CEC) Kumar announced.
Responding to a query about the the Union Budget, scheduled days ahead of the polls, Kumar said, "We will write to the cabinet secretary that no Delhi-specific provision can be made in the Union Budget that can disturb the level-playing field."
The last date to file nominations is January 17 and the scrutiny of nominations will be done by January 18.
Candidates will be able to withdraw their nominations till January 20.
Bypolls to two assembly constituencies -- Milkipur in Uttar Pradesh and Erode in Tamil Nadu -- will also be held according to the same schedule.

The Modi government will present the annual budget next month

Union Budget 2024 | Farm bodies seek higher agri R&D spending, subsidy reforms

The Modi government will present the annual budget next month

In a pre-budget consultation with Finance Minister Nirmala Sitharaman, farm organisations and experts on Friday pitched for higher investment in agricultural research, rationalisation of fertiliser subsidies and infrastructure development to boost the sector's resilience against climate change.
The two-and-a-half-hour meeting saw stakeholders advocating for a significant hike in the budget allocation for the Indian Council of Agricultural Research (ICAR) from Rs 9,500 crore to Rs 20,000 crore. Also read/watch - <a title="Full Budget 2024: Centre may increase capital expenditure and welfare spending" href="https://www.editorji.com/business-news/budget/full-budget-2024-centre-may-increase-capital-expenditure-and-welfare-spending-1718970366285">Full Budget 2024: Centre may increase capital expenditure and welfare spending</a>
Indian Chamber of Food and Agriculture (ICFA) Chairman MJ Khan emphasised the need for "massive investment in agriculture R&amp;D" to drive sector growth and increase farmers' income.
Experts also called for consolidating all agriculture-related subsidies for transfer through Direct Benefit Transfer (DBT) and increasing the retail price of urea, which has remained unchanged since 2018. The promotion of bio-fertilisers and foliar fertilisers through subsidies was another key demand.
Bharat Krishak Samaj Chairman Ajay Vir Jakhar suggested segregating agriculture funds between education and research.
He pointed out that despite the economic returns on agricultural research being ten times higher than other investments, budget increases in the past two decades have lagged behind inflation rates.
Other notable suggestions included disbanding the MSP committee, and commissioning a new agricultural policy for India and changing the funding ratio for human resource development in centrally sponsored schemes from 60:40 to 90:10, with the central government bearing 90 per cent of the cost for five years.
Experts also suggested increasing the budget allocation for APEDA from Rs 80 crore to Rs 800 crore to boost farm exports, creating district export hubs and launching a National Goat and Sheep Mission.

The report comes after as Sitharaman began her tenure as Finance Minister on Wednesday for her second consecutive term, marking her as the first woman to serve as a minister for three consecutive terms under the Modi government

Union Budget 2024-25 likely to be presented in third week of July

The report comes after as Sitharaman began her tenure as Finance Minister on Wednesday for her second consecutive term, marking her as the first woman to serve as a minister for three consecutive terms under the Modi government

Finance Minister Nirmala Sitharaman is expected to present the Union Budget 2024-25 during the third week of July, coinciding with the start of the budget session, according to NDTV sources.
The report further adds that the National Democratic Alliance, led by Prime Minister Narendra Modi, will hold a separate session for the Union Budget in parliament after the initial session, scheduled from June 24 to July 3. The report comes after as Sitharaman began her tenure as Finance Minister on Wednesday for her second consecutive term, marking her as the first woman to serve as a minister for three consecutive terms under the Modi government. Also read/watch - <a title="Nirmala Sitharaman takes charge as Finance Minister for second consecutive term" href="https://www.editorji.com/business-news/nirmala-sitharaman-takes-charge-as-finance-minister-for-second-consecutive-term-1718176711262">Nirmala Sitharaman takes charge as Finance Minister for second consecutive term</a> Nirmala Sitharaman takes charge 
Nirmala Sitharaman assumed office as the Finance and Corporate Affairs Minister for a second consecutive term on Wednesday. She is set to present the final Budget for FY '25, which will outline the Modi 3.0 government's priorities for a "Viksit Bharat."
Upon arrival at the North Block office, Sitharaman was welcomed by Finance Secretary T V Somanathan and other top officials. Minister of State for Finance Pankaj Chaudhary, who took charge the previous evening, was also present.&nbsp;

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