Key Highlights:
- Union Budget 2025 to be presented by Nirmala Sitharaman on February 1.
- Focus areas include tax reforms, infrastructure investment, MSME support, and economic stability.
- The Halwa Ceremony was held on January 24 but without official visuals.
- The Economic Survey 2024-25 will be released on January 31, offering insights into India's economic trajectory.
- Budget Session will run from January 31 to April 4, 2025.
Finance Minister Nirmala Sitharaman is set to present the Union Budget 2025 on February 1, her eighth consecutive Budget. Amid a challenging economic landscape marked by subdued growth, currency fluctuations, and geopolitical uncertainties, the government is expected to introduce measures aimed at boosting infrastructure, supporting MSMEs, reforming taxation, and ensuring economic stability.
Key Market & Industry Expectations
- Infrastructure & Capex Boost: Increased government spending on infrastructure projects to drive economic growth and job creation.
- MSME & Agriculture Support: Policy measures to strengthen small businesses, enhance rural credit access, and promote agricultural sustainability.
- Income Tax Reforms: Possible tax slab revisions or deductions to increase disposable income and encourage spending.
- GST Rationalisation: Simplification of tax structures to ease compliance and improve the business environment.
- Economic Stability Measures: Strategies to counter external risks, stabilize inflation, and strengthen the rupee against global market fluctuations.
The Halwa Ceremony: A Tradition with a Change
On January 24, 2025, Finance Minister Nirmala Sitharaman led the traditional Halwa Ceremony at North Block, Delhi, marking the commencement of the Budget printing process. However, unlike previous years, the Finance Ministry refrained from releasing any official photos, videos, or statements about the event.
This ceremony is a symbolic tradition that signifies teamwork and confidentiality. Following the event, officials directly involved in Budget preparation enter a lock-in phase, where they remain isolated until the Budget is presented to prevent leaks.
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Parliament’s Budget Session & Economic Survey
- Budget Session Duration: January 31 – April 4, 2025
- Economic Survey Release: January 31, 2025
The Economic Survey 2024-25 will provide an in-depth analysis of India’s economic performance over the past fiscal year. It will highlight trends in key sectors, such as manufacturing, services, and trade, while offering policy recommendations for sustained growth.
With a mix of fiscal reforms and economic stimulus measures, Budget 2025 is expected to shape India’s economic trajectory in the coming year.
