Nirmala Sitharaman to present 8th consecutive Budget today

Budget 2025: Finance minister Nirmala Sitharaman on Saturday will present her record eighth consecutive Union Budget. The salaried class will be expecting a major relief in income tax rates/slabs to ease the burden of inflation. Follow LIVE updates here.

The minister gave the final touches to the Budget document on Friday ahead of the presentation.

“Union Minister for Finance and Corporate Affairs Smt. @nsitharaman interacts with the Secretaries and the senior officials involved in the Budget making process @FinMinIndia while giving final touches to the Union Budget 2025-26 at her office in North Block, in New Delhi, today,” the finance ministry said in a post on X.

Here are 10 points to know before Nirmala Sitharaman’s budget speech:

1. The Economic Survey presented by Sitharaman in the Parliament projected India’s gross domestic product (GDP) in the range of 6.3% to 6.8% for the financial year (FY) 2025-26. It indicated that India’s world-beating growth is moderating and more needs to be done to achieve the near 8 per cent annual rate required to achieve the Viksit Bharat target by 2047.

ALSO READ: 10 highlights from Economic Survey 2025 tabled by Nirmala Sitharaman

2. Expectations of the middle class are high after Prime Minister Narendra Modi invoked Goddess Lakshmi, the goddess of wealth, for elevating poor and middle class.

“I pray to Goddess Lakshmi that the poor and the middle-class sections in the country are blessed by her,” the prime minister said on Friday.

ALSO READ: Budget 2025: How to read the documents that FM Sitharaman will present in parliament

3. The Modi government’s second full budget in the third term will be presented against the backdrop of geopolitical uncertainties and an economic growth rate slowing to four year low, with new US President Donald Trump threatening tariffs against countries like India.

4. Analysts and experts expect some tax rationalisation, export push, better implementation of capital spending plans and clear roadmap on structural reforms.

5. DK Srivastava, Chief Policy Advisor, EY India, told PTI, “As we navigate a challenging economic landscape, the upcoming budget must balance fiscal prudence with growth-oriented measures. Increasing capital expenditure and putting more disposable income in the hands of consumers, particularly urban consumers, will be pivotal to uplifting growth in domestic demand”.

6. Karnataka chief minister Siddaramaiah urged the Centre to recognise the state’s contribution and ensure ‘just and proportional’ resource distribution. He also slammed the Union government over its ‘discriminatory approach’ towards Karnataka.

“Instead of treating states merely as revenue-generating units, the Centre must respond to their financial challenges with fairness and empathy. When it comes to resource allocation, including tax devolution, the Centre must follow scientific and equitable standards,” he said in a statement.

7. Congress general secretary K C Venugopal on Friday wrote to Finance Minister Nirmala Sitharaman flagging the concern among NRIs over the recent changes in the taxation of capital gains on real estate, PTI reported. He urged the minister to extend the same tax benefits to NRIs in the upcoming Budget as have been given to other citizens.

8. Leader of the Opposition in Lok Sabha Rahul Gandhi highlighted the “absence of Dalits, tribals, backward classes, and minorities” in the budget-making process.

“Tomorrow you will see that the finance minister will go with a briefcase. A photo will come. You will not see a single Dalit, a tribal, a backward class person or a minority in the photo. 90 officers will prepare the budget tomorrow. Out of 90, 3 officers are from OBC. Your population is 50 per cent and tomorrow if 100 rupees are distributed in the budget, then your officers will decide only 5 rupees,” Gandhi said.

9. The Congress on Friday held a meeting at Congress Parliamentary Party chief Sonia Gandhi’s 10 Janpath residence, PTI reported. The grand old party said it will raise issues such as inflation, unemployment, the Maha Kumbh stampede and the alleged insult to B R Ambedkar.

10. The Himachal government and various sections of society in the state have high expectations from the Union Budget for 2025-26. Chief Minister Sukhvinder Singh Sukhu said that the state does not have an international-standard airport, and the Union government should bear the entire cost of such an airport, PTI reported.

(With PTI inputs)