According to the Economic Survey 2024-25, tabled on Friday, India’s economy is projected to grow between 6.3% and 6.8% in FY26.
Union Budget 2025, Nirmala Sitharaman Speech Latest News Highlights : Union Finance Minister Nirmala Sitharaman presented her eighth consecutive budget, marking a historic milestone.
According to the Economic Survey 2024-25, tabled on Friday, India’s economy is projected to grow between 6.3% and 6.8% in FY26. The survey emphasizes that while investment activity is expected to rise, structural reforms and deregulation will be necessary to sustain medium-term growth potential.
Ahead of the Budget presentation, President Droupadi Murmu, in her address to a joint sitting of Parliament, highlighted the government’s commitment to reviving the economy from the policy paralysis of the past. She acknowledged challenges posed by global uncertainties, including the COVID-19 aftermath and ongoing geopolitical conflicts, but reaffirmed the government's strong determination to steer the economy forward.
Union Budget 2025, Nirmala Sitharaman Latest News HIGHLIGHTS:
12:29| FM says, "I propose to rationalise TDS by reducing the number of rates and thresholds above which TDS is deducted. Further, threshold amounts for tax deduction will be increased for better clarity and uniformity. The limit for TDS on interest for senior citizens is being doubled for the present Rs 50,000 to Rs 1 Lakh. Similarly, the annual limit of Rs 2.40 Lakh for TDS on rent is being increased to Rs 6 Lakh. The threshold to collect TCS on remittances under RBI's liberalised remittance scheme is proposed to be increased from Rs 7 Lakh to Rs Rs 10 Lakhs. I also propose to remove remittances for education purposes where such remittances is out of loan taken from a specified financial institution."
12:28| "No Income Tax payable up to an income of Rs 12 Lakh. Slabs and rates being changed across the board to benefit all tax-payers," announces FM Nirmala Sitharaman. She further says, "...I propose to revise tax rate structures as follows: 0 to Rs 4 Lakhs - nil, Rs 4 Lakhs to Rs 8 Lakhs - 5%, Rs 8 Lakhs to Rs 12 Lakhs - 10%, Rs 12 Lakhs to Rs 16 Lakhs - 15%, Rs 16 Lakhs to Rs 20 Lakhs - 20%, Rs 20 Lakhs to Rs 24 Lakhs - 25% and above Rs 24 Lakhs - 30%. To taxpayers up to Rs 12 Lakhs of normal income other than special rate income such as capital gains, tax rebate is being provided in addition to the benefit due to slab rate reduction in such a manner that there is no tax payable by them..."
12:18| "The middle class provide strengths to the economy. In recognition of their contribution, we have periodically reduced the tax burdens. I am now happy to announce that there will be no income tax up to an income of Rs 12 lakhs."says Finance Minister Nirmala Sitharaman
12:15| "There will be no Income Tax payable up to an income of Rs 12 Lakh," announces FM Nirmala Sitharaman.
12:08| Finance Minister Nirmala Sitharaman says, "In the budget of July 2024, the delay of the payments of the TDS up to the due date of filing statements was decriminalised; I propose the same from the TCS provisions as well..."
12:05 | Finance Minister Nirmala Sitharaman says, "Those suffering from Cancer, chronic or other severe diseases; I propose to add 36 life-saving drugs and medicines to the list of medicines fully exempted from basic customs duty."
12:02| FM says, "Inspired by the success, a modified UDAN scheme will be launched to enhance regional connectivity to 120 new destinations and carry 4 crore additional passengers in the next 10 years. The scheme will also support helipads and smaller airports in hilly, aspirational and northeast regional districts. Greenfield airports will be facilitated in Bihar to meet the future needs of the state. These will be in addition to the expansion of the capacity of Patna airport and Brownfield airport in Bihta. Financial support will be provided for Western Kosi Canal ERM project in Mithilanchal, benefitting a large number of farmers in the Mithilanchal region of Bihar..."
12:00| Finance Minister Nirmala Sitharaman says, "As a part of a comprehensive review of customs rates structure announced in the July 2024 budget, I propose to remove 7 tariff rates - this is over and above the tariffs removed in the 2023-24 budget..."
11:54| Finance Minister Nirmala Sitharaman says, "The fiscal deficit is estimated to be 4.4% of the GDP..."
11:53| Union Finance Minister Nirmala Sitharaman says, "The FDI limit for the Insurance Sector will be raised from 74 to 100 percent. This enhanced limit will be available for those companies which invest the entire premium in India. The current guardrails and conditionalities associated with foreign investment will be reviewed and simplified."
11:52| Finance Minister Nirmala Sitharaman says, "The revised estimate of the total receipts other than borrowings is Rs 31.47 lakh crore of which the net tax receipts are Rs 25.57 lakh crore..."
11:46| "I propose to introduce the New Income Tax Bill next week," says FM Nirmala Sitharaman in Parliament
11:46| Finance Minister Nirmala Sitharaman says, "A digital public infrastructure - 'Bharat Trade Net' (BTN) for international trade will be setup as a unified platform for trade documentation and financing solutions. The BTN will be aligned with international practices..."
11:44| Finance Minister Nirmala Sitharaman says, "As a part of Nuclear Energy Mision for Research and Development, at least five indigenously developed small modular (nuclear) reactors will be operationalised by 2033..."
11:43| "I am pleased to announce the extension of Jal Jeevan Mission until 2028 with an enhanced total outlay," says Union FM Nirmala Sitharaman.
11:43 | Finance Minister Nirmala Sitharaman says, "Nuclear Energy Mission for Viksit Bharat. Development of at least 100 gW of Nuclear energy by 2047 is essential for our energy transition. For active partnerships with the private sectors towards this goal, amendments to the Atomic Energy Act and Civil Liability for the Nuclear Damage Act will be taken out.."
11:36| Finance Minister Nirmala Sitharaman says, "The govt will setup an Urban Challenge Fund of Rs 1 lakh crore to implement the proposals to make cities as growth hubs.."
11:33| Union Finance Minister Nirmala Sitharaman says, "To improve access to credit, the credit guarantee cover will be enhanced. For micro and small enterprises from Rs 5 to Rs 10 crores leading to additional credit of Rs 1.5 Lakh Crores in the next 5 years. For
11:30| It was a symbolic walk out, all the MPs who walked out have joined the ongoing Lok Sabha session
11:26| Opposition parties demanded a discussion on the Mahakumbh stampede. Walked out to mark their protest.
11:22| Union Finance Minister Nirmala Sitharaman says, "The investment and turnover limits for classification of all MSMEs will be enhanced to 2.5 and 2 times respectively. This will give them the confidence to grow and generate employment for our youth."
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11:19| Union Finance Minister Nirmala Sitharaman says, "PM Dhan Dhaanya Krishi Yojana - developing agri districts program...Our government will undertake a PM Dhan Dhaanya Krishi Yojana in partnership with states. Through the convergence of existing schemes and specialised measures, the program will cover 100 districts with low productivity, moderate crop intensity and below-average credit parameters. It aims to enhance cultural productivity..."
11:18| MPs from the opposition parties walk out of Lok Sabha as Finance Minister Nirmala Sitharaman reads her budgetary speech She began her budgetary speech amid protests by Samajwadi Party MPs including party chief Akhilesh Yadav
11:10| Union Finance Minister Nirmala Sitharaman says, "In this Budget, the proposed development measures span 10 broad areas, focussing on the poor, youth, farmers and women."
11:09| Union Finance Minister Nirmala Sitharaman begins her budget speech amid protest by Samajwadi Party MPs including party chief Akhilesh Yadav
11:06| Union Finance Minister Nirmala Sitharaman says, "Our economy is the fastest growing among all major economies. Our development track record for the past 10 years and structural reforms have drawn global attention. Confidence in India's capability and potential has only grown in this period. We see the next 5 years as a unique opportunity to realise sabka vikas, stimulating balanced growth of all regions."
11:00| Union Finance Minister Nirmala Sitharaman presents Union Budget 2025
10:59| Raipur: On UnionBudget2025, Chhattisgarh Deputy Chief Minister Arun Sao says, "This budget is definitely going to be historic, it will be the budget for building the India of 2047, for building a developed India. This will be a budget that will bring changes in the lives of common people."
10:56| On Congress MP Manish Tewari's tweet on Budget, BJP MP Deepak Prakash says, "Congress and Congress leaders are mentally bankrupt. Budget is the symbol of the aspirations of 140 crore Indians. Every citizen is connected to it...But Congress mindset clearly shows that it has nothing to do with common people."
10:53| President of PHD Chamber of Commerce and Industry (PHDCCI), Hemant Jain says, "In the last couple of years, the growth has come down. We need to ensure that the growth rate is increased. This will happen by giving more money in the hands of the people and also improving the ease of doing business. We expect that income tax will be improved in favour of the middle class and investments will be increased in infrastructure and manufacturing sector..."
10:50| BJP MP Sanjay Jaiswal says, "Under the leadership of the Prime Minister, all the Budgets that have been presented so far have given new heights of development. I am confident that today too there will be a lot for poor, youth, women and industries." On Congress MP Manish Tewari's tweet on Budget, he says, "...PM Modi is meeting the expectation that the people of the country have with him. That is why, he is the PM for the third time."
10:46 | Samajwadi Party chief and the party's MP Akhilesh Yadav says, "...There is a more important thing than budget at the moment - people in Maha Kumbha are still looking and searching for their relatives. The CM has been there many times, the Union Home Minister has gone there, the Vice President is going today and the Prime Minister will also go there - in a Maha Kumbh where people die and the govt has failed to provide the numbers of deceased and those who are missing... Hindus have lost their lives - the govt must wake up - I said earlier as well to call the Army there. This has been the first time that saints have denied having Shahi (Amrit) Snan..."
10:43 | Congress MP Hibi Eden says, "We hope that the tax policies and the issues faced by common man and the small-time traders, including the GST, something on that would be expected. More allocation would be there on MNREGA. We expect that education and health will be given more focus and our all-time demand is that the honorarium of members of the anganwadi - teachers and workers are revised and given a better space. These are our demands and I hope the Govt will consider that...The southern states are neglected. I hope Kerala will get a better share this time."
10:40 | Congress MP Jairam Ramesh says, "Budget has an intent, content - it both make the extent of the budget. We don't have much expectations from the budget that some big announcements will be made and that will encourage private investment... Let's see if there will be some tax relaxation for the middle class or not. Also, we need to see if the investors get some relaxation from the 'tax terrorism'. We have demanded some reforms in GST. Modi 3.0 is being discussed all over the world, let's see when GST 2.0 comes."
10:35 | On Union Budget 2025 , JD(U) MP Sanjay Kumar Jha says, "The manner in which the economy has enhanced, the country has become the 5th largest economy under the leadership of PM Modi - a lot of work for the welfare of poor is being done, work on infrastructure is being done...People will get relief. In the last Budget too, the PM had a special focus on Bihar...We expect the same in this Budget too." On Sonia Gandhi's and Rahul Gandhi's remarks on President Droupadi Murmu and her speech, he says, "It is very unfortunate...President comes from the tribal community. Speaking with such contempt shows the mindset of Congress family..."
10:33 | Union Home Minister Amit Shah arrives at parliament as Union Budget 2025 will be tabled in Lok Sabha, today, by Union Finance Minister Nirmala Sitharaman
10:19 AM | Union Minister Gajendra Singh Shekhawat says, "The Budget will be in continuity and will be for the welfare of the country, of the poor and will be a novel and strong step towards the resolve of making 'Viksit Bharat'..."
10:16 AM | President Droupadi Murmu feeds Union Finance Minister Nirmala Sitharaman the customary 'dahi-cheeni' (curd and sugar) ahead of her Budget presentation.
#WATCH | President #DroupadiMurmu feeds Union Finance Minister @nsitharaman the customary 'dahi-cheeni' (curd and sugar) ahead of her #Budget presentation. #UnionBudget2025 #Budget2025 #BudgetSession #BudgetSession2025 pic.twitter.com/vMYIz8RcpZ
— Rozana Spokesman (@RozanaSpokesman) February 1, 2025
10:10 AM | Union Finance Minister Nirmala Sitharaman arrives at the Parliament, after meeting President Droupadi Murmu at Rashtrapati Bhavan. She will present the Union Budget at the House, shortly.
10:05 AM | Union Finance Minister Nirmala Sitharaman leaves from Rashtrapati Bhavan after meeting President Droupadi Murmu.
10:00 AM | Union Finance Minister Nirmala Sitharaman and MoS Finance Pankaj Chaudhary meet President Droupadi Murmu at the Rashtrapati Bhavan
