Union Budget 2025 Explained Speech Live Updates: Finance Minister Nirmala Sitharaman presented the Union Budget 2025-26 on Saturday, February 1. This is Sitharaman’s eighth consecutive Budget speech. All eyes were on whether the Finance Minister will announce any tax relief for the salaried and Sitharaman delivered. The FM announced a major overhail of income tax slabs, increasing the tax exemption limit to Rs 12 lakh per annum. Watch this space for Live updates on Budget 2025 announcements and what they mean for the common man.
Budget 2025 comes at a time when India is witnessing a slowing economy. While presenting Budget 2024, Sitharaman said that the subsequent budgets will focus on nine priorities. These are – ‘productivity and resilience in agriculture’, ’employment & skilling’, ‘inclusive human resource development and social justice’, ‘manufacturing & services’, ‘urban development’, ‘energy security’, ‘infrastructure’, ‘innovation, research & development’, and ‘next generation reforms’.
Last Budget, the Finance Minister had also said that the government will undertake a comprehensive review of the custom duties rate structure over the next six months. It is, therefore, expected, that there could be major announcements on custom duties this Budget.
The Union Budget, called the Annual Financial Statement of the Government of India, is presented every year with an aim to boost yet balance the economic growth of the country. The Budget document carries big decisions on policies, taxes, income and expenditure.
Watch India Budget 2025 Nirmala Sitharaman Budget Speech Live Here:
Ahead of the Union Budget, the Finance Minister presented the Economic Survey 2024-25 on Friday. The latest Economic Survey 2024-25, tabled on Friday by FM Nirmala Sitharaman, projects India’s GDP growth for FY26 between 6.3 per cent and 6.8 per cent. The economic survey is often seen as the government’s report card vis-a-vis the previous budget.
