Finance Minister Nirmala Sitharaman is set to make history with her eighth consecutive Union Budget.

Union Budget 2025 Expectations FM Nirmala Sitharaman's Latest News : Finance Minister Nirmala Sitharaman is set to make history with her eighth consecutive Union Budget. She has worked attentively with key officials, including Finance Secretary Tuhin Kanta Pandey, to prepare a budget exceeding Rs 50 lakh crore for FY26.This budget will need to address several challenges, such as slowing economic growth, the declining value of the Rupee against the US dollar, and a moderation in consumption demand.  Finance Minister Nirmala Sitharaman prepares to deliver the Union Budget 2025 on February 1, 2025, there is considerable anticipation. This will be her eighth budget presentation, coming at a crucial time for India's economy.

Let's explore what we might see in this year's budget, based on her last budget speech. 

Key Priorities from the Previous Budget (2024-25)

In her 2024-25 budget speech, FM Sitharaman outlined nine main priorities to achieve 'Viksit Bharat' (Developed India). These priorities were:

1. Agricultural Productivity and Resilience: Enhancing agricultural output and resilience through various initiatives.
2. Employment and Skills Development: Creating job opportunities and improving skill development programs.
3. Inclusive Growth and Social Justice: Ensuring growth benefits all sections of society.
4. Boosting Manufacturing and Services: Promoting the manufacturing and services sectors to drive economic growth.
5. Urban Development: Focusing on sustainable urban infrastructure projects.
6. Energy Security: Investing in renewable energy and other sources for energy security.
7. Infrastructure Development: Continuing infrastructure projects, including roadways and railways.
8. Innovation and R&D: Encouraging innovation and research for technological advancements.
9. Next Generation Reforms: Implementing reforms to modernize various sectors.

 Expected Announcements in Budget 2025 : Based on these priorities, here are some anticipated announcements for Budget

1. Tax Reforms: Likely changes in tax slabs to reduce the burden on individuals, especially the middle class. The basic exemption limit might rise from Rs. 3 lakhs to Rs. 5 lakhs, and Section 80C limits could increase from Rs. 1.5 lakhs to Rs. 2 lakhs.
2. Customs Duty Changes: A comprehensive review of customs duties, potentially reducing rates on raw materials and electronic components to boost domestic manufacturing.
3. Support for MSMEs: Measures to support Micro, Small, and Medium Enterprises (MSMEs), including higher GST registration thresholds and simplified return filing.
4. R&D Incentives: New incentives for Research and Development activities to foster innovation.
5. Infrastructure Investments: Significant capital expenditure on roadways and railways infrastructure projects.
6. Green Initiatives: Incentives for green technology and renewable energy projects, aligning with India's decarbonization goals

Conclusion
The Union Budget 2025 aims to build on the foundation set by FM Nirmala Sitharaman's previous budget. With a focus on tax reforms, support for MSMEs, infrastructure investments, and green initiatives, the budget seeks to drive economic growth and inclusive development. As we await the official announcements, it is evident that the government's priorities remain aligned with the vision of 'Viksit Bharat' by 2047.

( For More News Apart From Budget 2025: Expectations for Tomorrow Based on FM Nirmala Sitharaman's Previous Budget Speech stay tuned to Rozana Spokesman )