Nirmala Sitharaman is proving to be a better finance minister than her initial rookie status might have led people to expect, observes T N Ninan.
Budget 2025-26 delivers a carefully calibrated strategy-stimulating demand and investment while keeping fiscal discipline intact. In an environment marked by global trade disruptions, and a softening in urban consumption, Finance Minister Nirmala Sitharaman has taken a measured approach.
Here is a list of items set to become cheaper and costlier.
Replying to a question about women empowerment, Sitharaman insisted that patriarchy is a concept invented by the Left.
The Union Budget 2025-26 on Saturday allocated Rs 2,33,210.68 crore to the Ministry of Home Affairs with the majority of the fund -- Rs 1,60,391.06 crore -- being given to central police forces like Central Reserve Police Force (CRPF), Border Security Force (BSF) and Central Industrial Security Force (CISF) which are responsible for internal security, border guarding and security of vital installations.
From the 30-share blue-chip pack, Zomato surged over 7 per cent. Maruti, ITC Hotels, ITC, Mahindra & Mahindra, Asian Paints, Titan and IndusInd Bank were among the biggest gainers. Power Grid, Larsen & Toubro, NTPC, UltraTech Cement, HCL Tech, Tech Mahindra, Infosys and Adani Ports were among the laggards.
These are the highlights of the Union Budget 2025-26 presented by Finance Minister Nirmala Sitharaman in Parliament on Saturday.
'Growth, liquidity and deposit mobilisation are likely to be discussed during the interaction.'
'We are not incentivising the old tax scheme. These taxpayers will also shift to the new regime after comparison.'
Finance Minister Nirmala Sitharaman on February 1 will present a record eighth consecutive budget that 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.
Here's a look at just some of the bigwigs who took the anti-Covid jab.
While the Indian women again showcased their tactical prowess, outplaying South Africa 66-16 in the semi-finals, the men's team secured their spot in the final with a 62-42 victory over the team from the Rainbow Nation.
Finance Minister Nirmala Sitharaman on Monday asked enforcement agencies to go after 'big fish' involved in drug trafficking, saying they need to find who is sending 'mountains' of illegal drugs into the country.
India's economic growth rate is estimated to slip to a four-year low of 6.4 per cent in 2024-25, mainly on account of poor showing by the manufacturing and services sector, according to government data released on Tuesday. The gross domestic product (GDP) rate of 6.4 per cent will be the lowest since the Covid year (2020-21) when the country witnessed a negative growth of 5.8 per cent.
Job creation, improving farm productivity, and mobilising public funds for infrastructure development were some of the issues that figured during the interaction between Prime Minister Narendra Modi and economists ahead of the 2025-26 Union Budget. The prime minister on Tuesday met eminent economists and sectoral experts at NITI Aayog to hear their views and suggestions for the upcoming Budget. Union Finance Minister Nirmala Sitharaman is scheduled to present the Budget for 2025-26 in the Lok Sabha on February 1, 2025.
'Nearly 10 million people will benefit from the increase in the rebate limit for those earning up to Rs 12 lakh.' 'We expect all that money will come back into the economy in either savings, consumption, or investments.'
"The new structure will substantially reduce taxes on the middle class and leave more money in their hands, boosting household consumption, savings and investment," Sitharaman said presenting what was dubbed as 'reformist' budget for the next fiscal in Lok Sabha.
Implications for capital gains, wealth taxes, and investment strategies require careful consideration, notes Anil Rego, founder and CEO, RightHorizons.
'Once filed, it cannot be revised or rectified.'
The government is likely to provide a subsidy of Rs 35,000 crore to state-owned Indian Oil Corporation Ltd (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) to make up for losses they incurred on selling the fuel this fiscal, sources said.
The Union Budget 2025-26, while promising a new framework for smoother mergers and acquisitions (M&As), has plugged a major loophole on carry-forward losses for a total of eight assessment years between amalgamating company and amalgamated company from the date of loss instead of date of the merger. For all mergers effected on or after April 1, 2025, the losses can be carried forward only for the residuary period (counting from the date of loss).
The government may save over Rs 70,000 crore (Rs 700 billion) on capital and revenue expenditure allocated towards new schemes in the FY25 Budget that are yet to be implemented.
Using the debt-to-GDP ratio as a fiscal anchor aligns with efforts to promote fiscal transparency through proper disclosure of off-budget borrowings.
While this will incur a revenue loss amounting to 0.2 per cent of GDP, it will provide a strong boost to consumer sentiment and spending, points out Rajani Sinha.
BJP leader Devendra Fadnavis was sworn in as the new Chief Minister of Maharashtra in a grand ceremony at Azad Maidan in Mumbai.
Former Karnataka Chief Minister S M Krishna passed away at his residence in Bengaluru early Tuesday morning, his family said.
Bharatiya Janata Party MPs Sunny Deol and Sanjay Dhotre were among those who missed casting their votes in the presidential poll on Monday.
Fugitive businessman Vijay Mallya has said that he will pursue relief for the Enforcement Directorate and banks taking more than two times the debt he owed. His remarks came following a statement by Finance Minister Nirmala Sitharaman in Parliament about recovery of over Rs 14,130 crore from his attached assets.
So tell us, does Sitharaman's 7th consecutive Budget deserve cheers or boos?
'The finance minister has done as much as she can when you look into the fiscal constraints she had.'
Farmer representatives and agricultural stakeholders urged the government to provide cheaper long-term credit, implement lower taxes, and double the PM-KISAN income support during a comprehensive pre-budget consultation with Finance Minister Nirmala Sitharaman on Saturday. The two-hour meeting saw a detailed discussion of proposals, aimed at addressing multiple challenges in the agricultural sector, with key demands focusing on financial relief, market reforms, and strategic investments.
She added that the government has extended the PM Garib Kalyan Anna Yojana for five years which is benefiting 80 crore people of the country.
A heated political battle erupted Tuesday over Arvind Kejriwal's claim of the Haryana government 'poisoning' the Yamuna water, with the Bharatiya Janata Party saying he cannot be forgiven for his 'dangerous statement', while the Aam Aadmi Party chief asserted he won't let the people of Delhi die due to the dirty, poisonous water.
'We face the risk of remaining a low-income country for a very long time unless something changes in the next few years.' 'Instead of constantly talking about becoming a developed economy, we need to start fixing the problems of the economy one by one.' 'There is so much potential, and we are squandering away the opportunity.'
Devendra Fadnavis will lead the new Mahayuti coalition government in Maharashtra, with Eknath Shinde and Ajit Pawar serving as deputy chief ministers. The swearing-in ceremony is scheduled for Thursday evening at Azad Maidan ground in south Mumbai and will be attended by Prime Minister Narendra Modi and several Union ministers. The Mahayuti coalition won the recent assembly elections by a landslide, securing 230 out of 288 seats.
Prime Minister Narendra Modi is expected to attend the swearing-in ceremony of the new Mahayuti government in Maharashtra on December 5. BJP leader Devendra Fadnavis is considered the frontrunner for the chief minister's post, with the BJP having recorded its best-ever electoral performance in the state. The Mahayuti coalition includes Eknath Shinde-led Shiv Sena and Ajit Pawar-led Nationalist Congress Party.
Following the lacklustre growth numbers in the second quarter (Q2FY25), economists believe the upcoming Union Budget for 2025-26 should focus on reforms that will stimulate consumption, manufacturing and spur employment. India's growth unexpectedly slowed to 5.4 per cent in the second quarter, due to low capital formation, weak consumption, besides adverse weather impact.
Paraphrasing Abraham Lincoln, Finance Minister Nirmala Sitharaman on Sunday described the Union Budget as "by the people, for the people, of the people", and said Prime Minister Narendra Modi was fully behind the idea to cut taxes for the middle class but it took time to convince the bureaucrats. "We have heard the voice of the middle class" who had been complaining about their aspirations not being met despite being honest taxpayers, she told PTI in an interview.
Reserve Bank Governor Shaktikanta Das on Tuesday said the fiscal-monetary coordination was at its best during the last six years even as he thanked Prime Minister Narendra Modi for giving the opportunity to head the monetary authority of the country. Das, in a series of posts on X, on his last day of his six-year term as RBI Governor, also thanked the Finance Minister, various stakeholders and his colleagues at the central bank.
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