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Nirmala Sitharaman To Present Record 8th Straight Union Budget Today

The 2025 Union Budget may prioritize agriculture and introduce tax reforms, including phasing out the old regime and possibly offering zero income tax for earnings under Rs 10 lakh annually, though these proposals are unconfirmed.

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Nirmala Sitharaman To Present Record 8th Straight Union Budget Today

Finance Minister Nirmala Sitharaman is set to present her eighth consecutive Union Budget on Saturday, marking a record for any minister in India. This brings her closer to Morarji Desai’s record of presenting 10 budgets. She continues to serve as India’s first full-time female finance minister, maintaining her position under Prime Minister Narendra Modi’s third term.

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The Union Budget for 2025 is expected to focus heavily on the agriculture sector, with potentially significant tax reforms, including the phasing out of the old tax regime and the possibility of introducing zero income tax for individuals earning less than Rs 10 lakh annually, although these proposals are yet to be confirmed.

A major focus of the budget will be striking a balance between fiscal consolidation and promoting economic growth amidst rising inflation. There are also expectations for the real estate sector to be granted ‘industry’ status, along with government support for the development and implementation of artificial intelligence (AI).

Economic Survey

Earlier on Friday, the Economic Survey for 2024-25 was presented, revealing a slight 1.5 per cent increase in India’s employment growth, while corporate profitability reached its highest level in 15 years, driven by strong performances in the financial, energy, and automobile sectors.

Corporate profitability in FY24 reached its highest level since FY08, with the profit-to-GDP ratio for Nifty 500 companies climbing to 4.8 per cent, compared to just 2.1 per cent in FY03. Larger corporations particularly outperformed smaller firms in terms of profitability, especially in non-financial sectors.

Nirmala Sitharaman Budget Session Union Budget 2025