Budget 2025 Expectations: Nirmala Sitharaman Presents Economic Report, CEA Nageswaran's Address—As It Happened

Finance Minister Nirmala Sitharaman will table the first full Budget of Modi 3.0 government on Feb. 1 amid expectations of tweaking income tax slabs, major boost for the infrastructure sector, larger allocations for rural development and the education sector. Sitharaman will also create history with her eighth consecutive Union Budget on Saturday.

The Budget Session commenced on Friday with President Droupadi Murmu addressing the joint sitting of Lok Sabha and Rajya Sabha. The first part of the session will conclude on February 13 and the second part will start on March 10. The session will conclude on April 4.

Finance Minister Nirmala Sitharaman will start her Budget speech in the Lok Sabha at 11 a.m. on Saturday.

The Road sector streak of slow awarding continued in 9M fiscal 2024-25 with the NHAI awarding of Rs 135 billion compared to the already muted 9M fiscal 2023-24 of Rs 370 billion (approximately 65% y/y drop), according to a report by Anand Rathi Research Team. 

"With a strong live tender pipeline (approximately Rs 1.1 trillion), the expected turbocharging by the government with greater capex allocation in the coming Budget, new plan being finalised and an agile monetisation plan by the NHAI are purported to revive the laggard Road sector. Intense competition in bidding is also being addressed to bring bidding discipline," the report said.

Chief Economic Adviser V Anantha Nageswaran on Friday discussed the projected gross-domestic-product growth of 6.3–6.8% for the upcoming financial year, influenced by global risks and trade uncertainties.

Global factors, such as potential spillover from global financial markets and increased uncertainty in trade and investment flows, are significant considerations in the growth projection, the CEA said in a conversation with NDTV Profit.

A strong emphasis on green logistics is essential, with incentives to promote the use of electric vehicles, biofuels, and IoT-enabled transport systems, said Subhasish Chakraborty, Founder, Chairman, and Managing Director of  DTDC Express Ltd.

"We encourage the government to prioritise investments in infrastructure modernisation, particularly in the creation of smart logistics parks and multimodal transport networks that embrace sustainable practices," he said.

Chakraborty highlighted that these measures will help lower logistics costs while reducing carbon emissions, paving the way for a sustainable future in the sector.

I don't think current state of technology is there yet to displace labour and employment extensively, the CEA told NDTV Profit.