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20-Feb-2025 [16:11]
budget 2025
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LIVE BUDGET 2025 Read all updates

  • 01-02-2025 12:30

    FY26 Capex Seen At Rs.11.2 LK CR

  • 01-02-2025 12:27

    Nominal GDP Expected to Grow 10.1% in FY26

  • 01-02-2025 12:26

    30% Tax For Income Above Rs.24 Lakh

  • 01-02-2025 12:17

    Finance Minister : Democracy, Demography and Demand Key For Viksit Bharat

  • 01-02-2025 12:16

    Union Budget 2025: No income tax payable up to Rs 12 lakh, says Finance Minister

  • 01-02-2025 12:15

    Union Budget 2025: Finance Minister propose to exempt withdrawals made under National Savings Scheme (NSS) accounts from tax.

  • 01-02-2025 12:14

    Union Budget 2025: Democracy, demography and demand are key support pillars, as FM announces PIT reforms

  • 01-02-2025 12:12

    Finance Minister : 33,000 Tax Payers Availed Vivad Se Vishwas Scheme

  • 01-02-2025 12:12

    Union Budget 2025: TDS Limit on Interest for Senior Citizens Hiked in Budget 2025-26

  • 01-02-2025 12:11

    Union Budget 2025: TDS for rent hiked to Rs 6 lakh Says Finance Minister

  • 01-02-2025 12:06

    Finance Minister : Personal Income Tax Reforms With SPL Focus On Middle Class

  • 01-02-2025 12:06

    Union Budget 2025: Finance Minister Announces PIT Reforms, TDS and TCS Rationalization, and Reduced Compliance Burden

  • 01-02-2025 12:04

    Finance Minister to Unveil Decisions on Direct Taxes

  • 01-02-2025 12:02

    Union Budget 2025: New Income Tax bill to be simpler, says Finance Minister

  • 01-02-2025 12:00

    Union Budget 2025: Finance Minister Proposes 10-Year Exemption on BCD for Ship and Parts Manufacturing

  • 01-02-2025 12:00

    Finance Minister : BCD Exemption For 35 Capital Goods For EV Batteries

  • 01-02-2025 11:59

    Union Budget 2025: Finance Minister Announces Committee to Review and Recommend Reforms for Enhancing Ease of Doing Business

  • 01-02-2025 11:59

    Union Budget 2025: FY25 revised capex at rs 10.18 lakh cr

  • 01-02-2025 11:58

    Finance Minister : 36 Life Savings Drugs Fully Exempted From Basic Customs Duty

  • 01-02-2025 11:57

    Union Budget 2025: Fiscal deficit as a percentage of GDP is on a declining path as targeted. Revised estimate for capex at INR 10.18 lakh crore, falls short of BE of FY25

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The Turning Point: Budget 2025

INFOGRAPHICS

sectoral Expectations

  • Agriculture
  • Aviation
  • Defence
  • Education
  • Energy
  • Real Estate
  • Insurance
  • IT
  • Healthcare
  • Banking
  • Income Tax
  • Manufacturing
  • Infrastructure
  • MSME
  • Tourism
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opinion

Team India: Budget 2025

nirmala sitaraman
(finance minister)
The process of formulating the Union Budget is orchestrated by senior bureaucrats from the Prime Minister's Office (PMO) and the Finance Ministry. This intricate process begins with a significant ritual at North Block, the iconic building in New Delhi that houses the Finance Ministry. Known as the 'halwa' ceremony, it ceremonially marks the commencement of the Union Budget's compilation and printing, signaling the final stages of its preparation. During the printing phase, officials immerse themselves in their work within the confines of North Block, maintaining limited communication even with their families, given the document's sensitivity as one of India’s most closely guarded secrets. The Finance Ministry dedicates a floor for the overnight stays of key team members involved in this critical task. The groundwork for the budget starts approximately six months before its presentation, involving consultations with industry leaders, social sector analysts, economists, and other stakeholders. This collaborative effort spans across various ministries and departments within the Finance Ministry. Key figures in this process include Sanjay Malhotra, the Revenue Secretary; Ajay Seth, Secretary of the Department of Economic Affairs; Tuhin Kanta Pandey, Secretary of the Department of Investment and Public Asset Management; Vivek Joshi, Secretary of the Department of Financial Services; TV Somanathan, Finance Secretary; and V Anantha Nageswaran, the Chief Economic Advisor. Driving the budget formulation are pivotal individuals such as TV Somanathan, who serves as the link between the Finance Ministry and the PMO. His role has been instrumental in shaping policies to mitigate the pandemic's impact and in overseeing substantial capital expenditure initiatives amounting to Rs 10 lakh crore for FY24. Somanathan, previously an Additional Secretary at the PMO, brings a wealth of experience to his current responsibilities. PK Mishra, a cabinet-ranking bureaucrat and Principal Secretary to the PM, holds a pivotal position overseeing crucial policy matters across ministries, acting as the PM's key advisor. Overall, the drafting of the Union Budget stands as a testament to rigorous planning, meticulous execution, and strategic collaboration among India's top bureaucratic and ministerial echelons.
tV somanathan
(finance secretary)
TV Somanathan assumed the role of Secretary in the Department of Expenditure, Ministry of Finance in December 2019. In April 2021, he was appointed Finance Secretary, a position held by the most senior officer among all secretaries in the ministry. As Finance Secretary, Somanathan plays a pivotal role in shaping the interim Budget, slated to be presented by Finance Minister Nirmala Sitharaman on February 1. Previously, he served as a joint secretary in the Ministry of Corporate Affairs (MoCA) from 2015 to 2017 and was part of the Prime Minister’s Office (PMO), overseeing the implementation of economic policies. Currently, he chairs the committee tasked with reviewing the pension system for government employees. With a doctorate in Economics and qualifications as a chartered accountant (CA), cost accountant, and company secretary, Somanathan has authored numerous papers and articles on economics, finance, and public policy, including two books and chapters in several others. He has also served as Director at the World Bank, Washington D.C., during his deputation from the IAS. Highly regarded by his peers, Somanathan's Department of Expenditure has been instrumental in significantly increasing government capital expenditure to stimulate growth and employment. He played a crucial role in the 2021-22 Budget, which discontinued the practice of extra-budgetary borrowing, aimed at improving the central government’s fiscal transparency. During the challenging revenue conditions caused by the pandemic in 2020 and 2021, Somanathan led efforts to enforce expenditure controls across various ministries and spearheaded the implementation of flagship schemes like ‘PM Gareeb Kalyan’ and ‘Aatmanirbhar Bharat’. Overall, Somanathan’s tenure has been marked by his proactive approach to fiscal management and his significant contributions to economic policy formulation and implementation at a critical juncture for India’s economy.
tuhin kanta pandey
(DIPAM secretary)
Tuhin Kanta Pandey, an IAS officer of the 1987 batch, assumed the role of Secretary at the Department of Investment and Public Asset Management (DIPAM) in 2019. His appointment coincided with the government's consideration of a second attempt to privatize Air India. Prior to joining the finance ministry, Pandey served as the principal secretary in the Odisha state government. In his capacity as DIPAM Secretary, Pandey played a pivotal role in shaping the interim Budget presented by Finance Minister Nirmala Sitharaman on February 1. Pandey is recognized for his successful management of the long-pending sale of Air India and overseeing the listing of the Life Insurance Corporation of India (LIC). During his tenure at DIPAM, Pandey navigated challenges stemming from the government's disinvestment plans, which were repeatedly revised downward due to the COVID-19 pandemic's impact. Several planned sales faced delays or did not materialize as expected. Educationally, Pandey holds a master's degree in economics from Punjab University and an MBA from a United Kingdom university. His career spans various roles both in Odisha and at the central level. In Odisha, he served as Executive Director at the Odisha State Finance Corporation (OSFC), managing director at the Odisha Small Industries Corporation (OSIC), and district magistrate of Sambalpur district. At the central level, he served as a deputy secretary in the Ministry of Commerce and was deputed to the Regional Office of the United Nations Industrial Development Organization (UNIDO). In 2009, Pandey served as joint secretary in the Planning Commission for five years and later as joint secretary in the Cabinet Secretariat for two years.
ajay seth
(revenue secretary)
Ajay Seth is a senior Indian Administrative Service (IAS) officer of the 1987 Karnataka cadre. He has served in various roles in the government, including Secretary of the Department of Economic Affairs and additional charge as Revenue Secretary. Known for his expertise in public finance and infrastructure, Seth has held significant positions such as leading the Bangalore Metro Rail Corporation and contributing to taxation reforms in Karnataka.

history of budget

budget:2024 - Snapshots

Union Budget FAQs

The Union Budget is an annual financial statement presented by the Government of India. It outlines the country's revenue, expenditures, and financial plans for the fiscal year.
The Union Budget 2025 is expected to be presented on February 1, 2025.
The Union Budget is presented by the Finance Minister of India.
The fiscal year in India runs from April 1 to March 31 of the following year.
The key highlights will include tax reforms, allocation for various sectors, policy changes, and new initiatives introduced by the government.
Sectors like agriculture, health, education, infrastructure, and defense often receive focus, but the details will depend on the 2025 proposals.
Changes in tax rates will be announced during the budget presentation. Stay tuned for updates.
Any updates or revisions in GST rates will be detailed in the budget.
Union Budgets typically include provisions to support startups and MSMEs. Details will be known once the budget is announced.
The Union Budget often includes tax relief measures, subsidies, and welfare programs aimed at benefiting individuals and households.
Businesses can expect policy reforms, tax benefits, and incentives in specific sectors that align with government priorities.
Most changes take effect from April 1, 2025, unless specified otherwise.

BUDGET 2025 UPDATES

  • FY26 Capex Seen At Rs.11.2 LK CR

  • Nominal GDP Expected to Grow 10.1% in FY26

  • 30% Tax For Income Above Rs.24 Lakh

  • Finance Minister : Democracy, Demography and Demand Key For Viksit Bharat

  • Union Budget 2025: No income tax payable up to Rs 12 lakh, says Finance Minister

  • Union Budget 2025: Finance Minister propose to exempt withdrawals made under National Savings Scheme (NSS) accounts from tax.

  • Union Budget 2025: Democracy, demography and demand are key support pillars, as FM announces PIT reforms

  • Finance Minister : 33,000 Tax Payers Availed Vivad Se Vishwas Scheme

  • Union Budget 2025: TDS Limit on Interest for Senior Citizens Hiked in Budget 2025-26

  • Union Budget 2025: TDS for rent hiked to Rs 6 lakh Says Finance Minister

  • Finance Minister : Personal Income Tax Reforms With SPL Focus On Middle Class

  • Union Budget 2025: Finance Minister Announces PIT Reforms, TDS and TCS Rationalization, and Reduced Compliance Burden

  • Finance Minister to Unveil Decisions on Direct Taxes

  • Union Budget 2025: New Income Tax bill to be simpler, says Finance Minister

  • Union Budget 2025: Finance Minister Proposes 10-Year Exemption on BCD for Ship and Parts Manufacturing

  • Finance Minister : BCD Exemption For 35 Capital Goods For EV Batteries

  • Union Budget 2025: Finance Minister Announces Committee to Review and Recommend Reforms for Enhancing Ease of Doing Business

  • Union Budget 2025: FY25 revised capex at rs 10.18 lakh cr

  • Finance Minister : 36 Life Savings Drugs Fully Exempted From Basic Customs Duty

  • Union Budget 2025: Fiscal deficit as a percentage of GDP is on a declining path as targeted. Revised estimate for capex at INR 10.18 lakh crore, falls short of BE of FY25

  • Finance Minister : Revised Estimate For Expenditure In FY25 at Rs. 47.16LK CR

  • Budget 2025 : Fiscal Deficit For FY26 Estimated At 4.4%

  • Finance Minister : Will Set Up Investment Friendliness Index For States

  • Union Budget 2025: Investment friendly index of States to be launched in 2025 Says Nirmala Sitharaman

  • Government will develop modern, people friendly, trust-based regulatory framework Says Finance Minister

  • Union Budget 2025: Jan Vishwas Bill 2.0 to be introduced to decriminalise over 100 provisions Says Nirmala Sitharaman

  • Finance Minister : High Level Committee To Look Rules For Non-Financial Sectors

  • Speedy approvals for company mergers will be ensured and scope of such norms to be expanded Says Finance Minister

  • New income tax code next week Says Finance Minister

  • Union Budget 2025: Insurance FDI hiked 74% to 100%, says Finance Minister

  • Union Budget 2025: Digital public infrastructure for international trade will be set up for financing solutions

  • Finance Minister : Air Cargo Screening & Customs Clearance to be Made User Friendly

  • Union Budget 2025: Support will be provided for domestic manufacturing to join global supply chains Says Finance Minister

  • Union Budget 2025: Export Promotion Mission with sectorial and ministerial targets, launched

  • Union Budget 2025: National geo spatial mission announced Says Finance Minister

  • Finance Minister : Medical Tourism & Heal-in-India Will be Promoted With Pvt Sector

  • Union Budget 2025: PM Gatishakti data for private sector: access to relevant data and maps to be provided to private sector Tourism for employment led growth. Top 22 destinations will be developed in partnership with states

  • Finance Minister : Top 50 Tourist Destination Sites Will be Developed

  • Finance Minister : Will Connect 120 New UDAN Routes, Fly 4 CR More People in next 10 Years

  • Union Budget 2025: SWAMI scheme: 50,000 dwelling units completed, another 40,000 to be completed , SWAMI Fund 2 will be established of Rs 15,000 crore

  • Union Budget 2025: Greenfield airports in Bihar, says Finance Minister

  • Union Budget 2025: UDAN has enabled 1.5 crore middle class people connecting 88 airports, with 619 routes. Modified UDAN to be launched to 120 new destinations

  • Finance Minister : Will Allow Additional Borrowing Of 0.5% of GSDP By States

  • Union Budget 2025: Jal jeevan mission extended till 2028 Says Finance Minister

  • Union Budget 2025: Nuclear energy mission for Viksit Bharat Says Finance Minister

  • Finance Minister : Government Will Set Up An Urban Challenge Fund Of Rs.1 LK CR

  • Budget 2025 : Getting Ready For The Artificial Intelligence Age

  • 3 Centres of Excellence on AI for education will be setup with outlay of Rs 500 crore Says Finance Minister

  • Union Budget 2025: Cancer centres in all district hospitals, announced Finance Minister

  • Finance Minister : 50,000 Atal Tinkering Labs To Be Set Up In Government Schools

  • Union Budget 2025: Investment is the 3rd engine of growth, says Finance Minister

  • Union Budget 2025: Will set up Manufacturing mission to provide policy support to industries, says Finance Minister

  • Finance Minister : Will Launch Nalt Manufacturing Mission For Small, Medium & Large Industries

  • Finance Minister : Will Implement Scheme To Make India A Global Hub For Toys

  • Union Budget 2025 : Finance Minister Announces Establishment of Food Processing Institute in Bihar

  • Finance Minister : Credit Guarantee For MSME Startups To Rise Form Rs.10 CR to Rs. 20 CR

  • Finance Minister : India Post To Be Transformed Into Large Logistics Organisation

  • Union Budget 2025: Big KCC announcement - loan limit increased

  • Finance Minister Presents Her 8th Consecutive Budget

  • Finance Minister : Will Launch 5 - Year Mission For Cotton Production

  • Finance Minister : Governmet Will Launch 6 YR Mission On Atma Nirbharta In Pulses

  • Union Budget 2025 : Finance Minister Discusses Crop Diversification

  • Dhan Dhanya Krishi Yojana To Cover 100 Districts, Help 1.7 CR Farmers

  • Finance Minister : Budget Aims To Implement Reforms Across 6 Domains

  • Union Budget 2025: Agri as the first engine of growth, says Finance Minister

  • Union Budget 2025 : Garib, Youth, Annadata and Nari focus of Budget, says Finance Minister

  • Union Budget 2025: Finance Minister Highlights India as Fastest-Growing Major Economy

  • Finance Minister Nirmala Sitharaman Rises to Present The Budget 2025

  • Union Budget 2025: Finance Minister Begins Presentation of Union Budget 2025-26

  • Cabinet Approves Union Budget; Finance Minister Nirmala Sitharaman to Deliver Speech at 11 AM

  • Finance Minister Nirmala Sitharaman is presenting the Union Budget 2025 in the Lok Sabha. This marks her eighth consecutive budget presentation.

  • Honorable Finance Minister Nirmala Sitharaman's record 8th budget. What're on the card?

  • Union Budget 2025 Live: Cabinet Meeting Begins Ahead of Budget Presentation in Parliament

  • Union Budget 2025 : FM Nirmala Sitharaman arives at Parliament

  • Will Union Budget 2025 bring changes for common man?

  • Union Budget 2025 Live: Finance Minister Nirmala Sitharaman Arrives at Parliament

  • Union Budget 2025 Live: Finance Minister Nirmala Sitharaman Meets President Droupadi Murmu

  • 5 Key Expectations for Education in Budget 2025

  • Budget 2025: All Eyes on FM's 8th Title for Relief Amid Taxing Times

  • Union Budget 2025 : Sensex gains 100 pts ahead of Union Budget 2025, Nifty above 23,550

  • Commercial LPG cylinder prices slashed by Rs 7 ahead of Union Budget

  • Economic Survey 2024-25 Highlights: Stresses focus on impact of AI on labour force, mental health, workplace culture in private sector