India’s economy is expected to grow in the range of 6.3% and 6.8% in 2025-26 from an estimated 6.4% this year; this budget will take Nirmala Sitharaman closer to the record of 10 budgets presented by former Prime Minister Morarji Desai
Union Finance Minister Nirmala Sitharaman gives final touches to the Union Budget 2025-26 at her office in North Block, in New Delhi | Photo Credit: PTI
Finance Minister Nirmala Sitharaman will table a record 8th consecutive Union Budget on Saturday (February 1, 2025) 11 a.m. The budget is expected to contain measures to shore up weakening economic growth and ease the burden on the middle class struggling with high prices and stagnant wage growth while being fiscally prudent.
Presenting this budget will take Ms. Sitharaman closer to the record of 10 budgets presented by former Prime Minister Morarji Desai over different periods. Desai had presented a total of 6 budgets during his tenure as finance minister in 1959-1964, and 4 budgets between 1967-1969.
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A cut or tweak in income tax rates/slabs to ease the burden of the middle class struggling with high prices and stagnant wage growth is widely expected in this budget.
The Budget for the fiscal year starting April 1 is expected to contain measures to shore up weakening economic growth while being fiscally prudent. It is likely to focus on steps to boost consumption while sticking to the roadmap of narrowing the fiscal deficit.
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India’s economy is expected to grow in the range of 6.3% and 6.8% in 2025-26 from an estimated 6.4% this year, according to the Economic Survey for 2024-25, tabled in Parliament on Friday (January 31, 2025)
Noting that its growth estimates for the coming year are in line with the International Monetary Fund’s projection of about 6.5% growth for India between 2025-26 and 2029-30, the Survey acknowledged that this will not suffice for the aspiration to become a developed country by 2047.