Income Tax: Big win for the middle class! The Finance Minister announced that there will be no tax on income up to Rs 12 lakh under the new regime and up to Rs 12.75 lakh exempt with standard deduction.
Fiscal Deficit: Government targets 4.4% of GDP for fiscal 2026 after beating this year’s target. Fiscal consolidation remains a priority.
Capex: Capital expenditure spending is set at Rs 11.21 lakh crore for fiscal 2026. But the fiscal 2025 target was missed by 8% due to elections, with Rs 10.18 lakh crore spent.
PM Modi’s Take: He called this a "People’s Budget," and says it will boost savings, investment, and help drive India toward ‘Viksit Bharat.’
Gold Bonds: Sovereign Gold Bonds may be discontinued, said Economic Affairs Secy.
EV Boost: Tariff cuts on key EV materials like lithium-ion battery scrap, cobalt, and lead to support local manufacturing. EV stocks rallied on the announcement
Stock Market on Budget Day: Nifty 50 and Sensex ended flat after early gains were erased during Sitharaman’s speech. Nifty closed down 0.11%, Sensex up 0.01%.
Expert Views and Consensus: Tax relief will drive consumption, is what we heard veterans say over and over. The Budget is being seen as a shift in direction, balancing fiscal prudence with urban growth.
Cheaper & Costlier: Prices drop for life-saving drugs, EVs, mobiles, and shipbuilding materials. TVs and knitted fabrics might get costlier.
Bihar Boost: National Food Tech Institute and Makhana Board announced to strengthen food processing and farmer incomes.
Former Finance Minister P Chidambaram expressed doubt about the budget’s impact on private investments, referencing the Finance Minister’s repeated attempts to plead with and warn private investors over the past two years.
"If pleading, cajoling, or warning hasn’t worked, what effect could the budget have?" he said.
He highlighted the lack of a conducive environment for private investments, citing excessive regulations across multiple agencies. "There are too many layers of regulations, and agencies are so empowered they’ve become weaponised," Chidambaram said, pointing out that wealthy Indians are increasingly settling abroad.
He called for deregulation, emphasising, "Get out of the way. Don't regulate." He argued that the government must cut down on regulations imposed by RBI, SEBI, the Ministry of Coal, Steel, Mining, and other sectors. "The Finance Minister should take a sledgehammer and chop these off," he said, reflecting on the shift from the deregulation era that began in 1991. "Now we have gone halfway back."
Former Finance Minister P Chidambaram questioned the government's decision to announce 15 new programs in Budget 2025, citing the failure to achieve objectives in both past and current schemes.
"If they have failed to deliver on past programs, what is the confidence that these new programs will be delivered?" he asked. He also pointed out that bureaucracy might benefit from the increase in discretionary schemes, adding, "The bureaucracy will be happy as they have more discretionary schemes."
The Former Finance Minister expressed skepticism over the government’s ability to spend allocated funds, raising concerns about the projected deficit and tax collection numbers.
"Expenditure numbers do not give me optimism," he said. Referring to the current year's figures, he pointed out that revenue receipts are lower by Rs 41,240 crore and revised tax receipts are lower by Rs 26,439 crore.
"In key sectors, they have underspent the money. I am doubtful of their capacity to spend," he added. He further questioned the credibility of spending for programs like Poshan, Jan Jeevan Mission, and Pradhan Mantri Gram Sadak Yojana, noting the significant differences between last year's budget estimates and revised estimates for these schemes. "How can I be confident that the government will spend the money allocated this year?" he said.
When asked about the budget's potential to boost consumption and private capex, former Finance Minister P Chidambaram agreed partially, estimating an impact of around 20%.
However, he pointed out that the Finance Minister had herself acknowledged growth will be 6.4%, raising concerns.
"If growth in 2025-26 will be no different from 2024-25, what has the budget done?" Chidambaram said. "This budget should have aimed for growth of 8%. Neither the Finance Minister nor the Chief Economic Adviser is willing to state that, because of this budget, growth will rise to 8% in 2025-26. They haven’t said it."
Former Finance Minister P Chidambaram pointed out that despite no reduction in regulations, 15 new schemes and four funds have been introduced in Budget 2025.
He questioned the need for additional schemes when several existing ones remain underfunded or underutilised. "In health, Rs 1,255 crore was underspent; education, Rs 11,584 crore; social welfare, Rs 10,019 crore; agriculture, Rs 10,992 crore; rural development a whopping Rs 75,133 crore; and urban development, Rs 18,907 crore," he said.
"Why add more programs when funds from last year's initiatives that was announced with so much fanfare remain unspent?" he asked.
The former Finance Minister questioned the focus of the income tax relief announced in Budget 2025. "Only 3.2 crore actually pay tax. So what about the remaining 140 crore?" he asked.
He added that cutting GST or reducing tax on petrol and diesel would have benefited many more people. "If MNREGA wages were increased, it would have helped many families," he said, while reiterating that he had no complaints about the relief given to taxpayers.
Speaking exclusively to NDTV, former Finance Minister P Chidambaram called the Union Budget 2025 "a clever move rather than a bold one," aimed at drawing voter attention beyond Delhi and Bihar. "I have no complaints about the relief given to 3.2 crore income tax filers," he said.
Finance Minister Nirmala Sitharaman said, "Disinvestment and asset monetisation are different ideas. Many states have identified assets that can be used to their benefits. Fulfilling the demands of the States is the real challenge. Working with states is not a challenge on the road to Viksit Bharat."
Nirmala Sitharaman said India Post will be expanded with an ambitious logistics business to taper into growing market in the segment. She highlighted the postal service's deep reach across India and said global enterprises will use the network.
Nirmala Sitharaman said the government will establish Small Industries Development Bank of India (SIDBI) branch in every MSME cluster in three years. The rate of interest on loans to MSMEs will be lower, she said, helping industries grow.
CBITC, said there are 51 tariff lines where review exercise has been done. Import duty cut on motorbikes have been brought down to 40%.
CBDT, further said for AY24-25, about 8.75 crore returns have been filed. All 8.75 crore will benefit from relief.
Ravi Agrawal, Chairman of the Central Board of Direct Taxes shared that for the assessment year 2024-25, around 8.75 crore returns have been filed, with all of these taxpayers set to benefit from the recent relief measures. Even those earning Rs 24 lakh will gain a benefit of Rs 1.1 lakh, and one crore taxpayers will see the most advantage, as they will no longer have to pay any tax. The choice to move to the new tax regime remains with the taxpayer, and there is no deadline for making the switch.
Additionally, TDS rates and thresholds have been rationalized, addressing a long-standing request from taxpayers for simplification. This will allow individuals to have more money in their hands. A safe harbour has also been introduced for foreign investments in sectors that promote domestic manufacturing.
Regarding transfer pricing, which previously created disputes due to its annual nature, it will now occur once every three years, providing more clarity for taxpayers. These changes will be incorporated in the upcoming new tax bill.
Don't see any reason for taxpayers to stay with old tax regime and would like taxpayers to come to the new tax regime said Ravi Agrawal, Chairman of the Central Board of Direct Taxes.
Sanjay Kumar Agarwal, Chairman of the Central Board of Indirect Taxes & Customs, outlined four key objectives behind reducing tariff slabs: ensuring competitiveness, simplifying the structure, focusing on specific sectors, and increasing the ease of doing business. He highlighted that seven rates have been removed, including those above 100%, leaving only eight rates, including the 0% rate. As a result, the average rate has decreased from 11.65% to 10.66%, while finished goods have been maintained at a rate of 10%.
Ravi Agrawal, Chairman of the Central Board of Direct Taxes, stated that in July 2024, the finance minister had called for a revamp of the Income Tax Bill due to certain sections becoming redundant. As a result, efforts have been made to simplify the bill, making it easier for common taxpayers to understand, while also addressing any existing gaps. The content of the new bill, which will be presented next week, will be approximately half of the current bill, as it will be a completely new version rather than an amended one. However, some overlap with the existing provisions will still remain.
The government will likely announce discontinuation of sovereign gold bond scheme, said Economic Affairs Secretary Ajay Seth.
The last time gold bond was issued was in February last year. The scheme was introduced in 2015 in an effort by the government to reduce gold import burden on the country by giving Indians a proxy and tax-efficient way to invest in gold.
State Bank of India Chairman CS Setty told NDTV Profit the Union Budget is was comprehensive and good and covers the whole gamut of stakeholders.
On market reaction, he said market will analyse and digest the budget proposals. "The capex number of Rs 11.2 lakh crore was not something the market liked but if you add up the capex amount allocated for states and that of public sector enterprises, the amount works out to Rs 19.8 lakh crore," he said.
"This shows that government’s commitment toward public spending is intact."
"Asset monetisation 1.0 saw about 90% success, which is a good number. New asset classes like transmission assets will feature in Asset monetisation plan 2.0," said Economic Affairs Secretary Ajay Seth.
"Debt-to-GDP ratio will be on the declining path depending on the stage of the economy. Will keep in mind physical response to the growth of the economy. Target of debt to GDP ratio remains +/- 50%," said Economic Affairs Secretary Ajay Seth.
Confederation of Indian Industry President Sanjiv Puri said, "The budget focussed on many labour-intensive sectors. ... Pillars like agriculture, MSMEs, exports, and future-facing technologies like deep tech or AI were focused on... The relief that the middle class got for consumption is quite significant... The social security measures for gig workers will also bring relief. "
"There's no disinvestment target per se. Dividends also part of the target. We are looking at benefit of minority shareholders in CPSEs as well. Their performance, consistent dividend policy and a calibrated disinvestment strategy being seen," said Nirmala Sitharaman.
Finance and Revenue Secretary Tuhin Kanta Pandey explained that income tax exemption limit was extended as the government's thought is that on average Rs 1 lakh a month income, one needn't pay tax.
"We're reducing slabs, broadening tax slabs. This benefits every taxpayer. Extra rebate for some people has been granted. Money will come back to the economy via consumption, savings or investments," he said.
The new income tax bill, after introduction in parliament, will go to the standing committe for consultations, and any amendments will be deliberated by the government, said Nirmala Sitharaman.
On implementation, she said,"Let it get passed (in Parliament)."
"There is no cut in capital expenditure," said Nirmala Sitharaman. "With all this, fiscal prudence has been aligned to the glide path given in 2020."
"We continue to place emphasis on the multiplier effect that capital expenditure done by government has shown has sustained us. We continue on that, and with all this, our fiscal prudence has been maintained..."
FM Nirmala Sitharaman said the work on income tax simplification law that was announced in July last year has been completed within the deadline and will be introduced in Parliament next week.
In the market close on Saturday, Sensex and Nifty both ended flat with 0.01% and 0.11% up respectively.
Defense stocks crash as budget disappoints.
Consumption stocks rally post budget boosts confidence, lowers personal income tax
Nifty Realty, FMCG top sectoral gainers after consumption-focused budget
Trent, Maruti Suzuki top gainers in Nifty 50
Power Grid, BEL top Nifty losers as index snaps four-day gaining streak
Finance Minister Nirmala Sitharaman in the Union Budget 2025 today, announced tax exemption for those earning up to Rs 12 lakh. With the new changes in the tax regime calculate your tax for financial year 2025-26 with the help of the link below
Link here.
The government has a lot of things in the direction of ease of doing business said Prashant Khemka of White Oak Capital Management. He further added that, It is a positive budget and the best one in last many years.
Ace investor, Vijay Kedia said income tax is a positive surprise and this move will boost consumption. But, he added that, in a 4 trillion economy this is a very small thing.
Kedia also remarked that the government should focus more on reducing unemployment, further adding that he doesn't expect the budget to take the market to new highs.
6 Key Decision Expected From Budget 2025: From New Income Tax Bill To Custom Duty Rationalisation
Income Tax Slabs Budget 2025 Live: New Slabs Decoded — Nil Tax Up To Rs 12 Lakh, Savings On Higher Income
“The proposed hike in tax collected at source threshold on remittances under the Reserve Bank of India's Liberalised Remittance Scheme from Rs 7 lakh to Rs 10 lakh should benefit the travel and foreign exchange sectors. It will provide tailwinds for the outbound tourism and airline sector. Students and individuals seeking medical treatment will also benefit.”
"Usually the focus of the budget is on how the government treasury will be filled, but this budget is exactly the opposite of that. How will this budget fill the pockets of the citizens of the country, how will the savings of the citizens of the country increase and how will the citizens of the country become partners in development... this budget lays a very strong foundation for this. In terms of reforms, many important steps have been taken in this budget. Encouraging the private sector in Nuclear Energy is historic. It will ensure a big contribution of Civil Nuclear Energy in the development of the country."
"This budget is a force multiplier. This budget will increase savings, investment, consumption and growth rapidly. I congratulate Finance Minister Nirmala Sitharaman and her entire team for this Janta Janardan's, People's budget."
UBS said rise in disposable income to boost urban demand across staples and discretionary categories.
UBS said five key sectors capex up 4% year-on-year which is disappointing overall. Low single digit growth in key segments like railways, defence, highways. Growth in power suggest power equipment will continue to outperform industrials.
"India’s import of pulses doubled on-year in fiscal 2024, peaking to 6.63 million tonne – equal to 25% of the consumption for the year -- amid the fight to curb retail inflation. In the context, the government’s announcement of a 6-year mission for pulses, focusing on tur, urad and masoor is salutary. Through NAFED and NCCF, over the next 4 years, these pulses will be procured from farmers who are registered and have made agreements with these institutes."
Budget 2025: Here's What Experts Think About The New Tax Slabs And Benefits
Ministry of Defence total allocation up 6.2% versus revised budget 2024-25 estimate.
Budget 25-26 Estimate- Rs 6.81 lakh crore
Revised 24-25 estimate- Rs 6.41 lakh crore
Budget 24-25 Estimate- Rs 6.21 lakh crore
Capex on Defence Services
Budget 2025-26 Estimate: Rs 1.8 lakh crore
Revised 24-25 estimate down 7% at Rs 1.59 lakh crore versus budget 24-25 Estimate of Rs 1.72 lakh crore.
Since the gross market borrowing seems to be slightly higher than market expectation, Shrisha Acharya of Anand Rathi Global Finance expect yields to inch higher, making next week's RBI policy meeting more crucial.
"Market estimates for gross borrowing range between INR 13.5-14.2 tn and actual Gross borrowing estimate is INR 14.8 trillion. Net market borrowings to be INR 11.54 trillion as against expectation of INR 11trillion. Fiscal deficit for FY25 at 4.8% vs budgeted 4.9%, FY26 estimated at 4.4%. States can borrow additional 0.5% for sectoral reforms," he said.
The Union Budget 2025 proposed to cut custom duty on LPG to 5% from 15% earlier. It also proposes to cut duty on propane and butane to 2.5% from 15% earlier.
This will be negative for Gujarat Gas as propane is a competing fuel in Morbi region.
Sriharsha Majety, MD and Group CEO, Swiggy on Budget 2025:
“Democracy, Demography and Demand- Honourable Finance Minister, very articulately described this alliteration as three engines of growth. It is to her immense credit, that the budget address all these aspects- it has sufficient provisions to unshackle India’s demographic dividend, through new and strengthening of existing welfare policies it promotes social justice, and through tax and FDI reforms and simplification, the demand will get a fillip, which will propel India in the league of Viksit nations. "
On announcement of Makhana Board in Bihar, Bihar Minister Mangal Pandey says, "I want to thank PM Modi, Finance Minister Nirmala Sitharaman and Minister of Agriculture Shivraj Singh Chouhan on behalf of lakhs of farmers of Bihar who cultivate foxnuts... These farmers have been demanding the formation of a Makhana Board for a very long time, just like there is Tea Board and Rubber Board... We requested for the formation of this board when Shivraj Singh Chouhan came to Patna recently and today that dream of foxnut cultivating farmers has been fulfilled through the announcement by the Finance Minister during Union Budget 2025."
Source: ANI
The budget manages to deliver on consumption, investment and social welfare without compromising on fiscal prudence, said Ashish Chauhan, MD and CEO, National Stock Exchange.
"A comprehensive framework of reforms across six major domains including taxation, power sector, urban development, mining, and financial sector has been laid out, to promote sustainable and inclusive growth, with Agriculture, MSMEs, investment and exports identified as major engines of this growth. The growth-supportive measures were accompanied with continued support on social-welfare, with a slew of measures announced to provide quality education, affordable healthcare, employment skilling opportunities, and enhance women participation in labour force," he said.
Allocation increased by 11.8%.
Budget 2025-26 estimate at Rs 35,460 crore versus revised 2024-25 estimate of Rs 31,701.46 crore
Budget 2025-26 estimate at Rs 35,460 crore versus revised 2024-25 estimate of Rs 30,715 crore.
Budget 2025-26 estimate at Rs 20,000 crore versus revised 2024-25 estimate of Rs 11,100 crore
Budget 2025-26 estimate at Rs 20,000 crore versus revised 2024-25 Estimate of Rs 6,250 crore
Stocks In Focus: Tata Power, Adani Green Energy, Waaree Renewables Tech
PM Surya Ghar Muft Bijli Yojana
Budget 2024: What Gets Cheaper And What Gets Costlier
Finance Minister Nirmala Sitharaman presented the full Union Budget for fiscal 2025 on Saturday. She made key announcements on various sectors of interest — from MSMEs to artificial intelligence in education — and more, and offered a glimpse of the government's road map for the upcoming fiscal.
In a highly-welcomed turn of events, the Finance Minister announced that no income tax will be applicable on income up to Rs 12 lakh. The New Income Tax Bill is also set to reduce litigation by making tax provisions easier to understand.
Revision Of Income Tax Slabs
MSMEs — Focus On Manufacturing
Personal Tax
Fiscal Deficit
Impetus For Education And AI
Read full story here.
Budget 2025: Mazagon Dock, Cochin Shipyard, Garden Reach Shares Decline
The middle class is always in PM Modi’s heart.
— Amit Shah (@AmitShah) February 1, 2025
Zero Income Tax till ₹12 Lakh Income.
The proposed tax exemption will go a long way in enhancing the financial well-being of the middle class. Congratulations to all the beneficiaries on this occasion.#ViksitBharatBudget2025
"This progressive roadmap strengthens key sectors, ensuring inclusive growth through strategic investments and transformative policies," said Union Road and Highway Minister Nitin Gadkari.
"Anchored in the pillars of Innovation, Inclusion, and Investment, it emphasizes reforms, youth leadership, community participation, women empowerment, and Centre-State collaborations to drive holistic development."
"By fostering entrepreneurship, digital expansion, and robust infrastructure, it paves the way for sustained prosperity. With resilience and sustainable growth at its core, this budget reaffirms Bharat’s commitment to self-reliance, progress📈, and global excellence."
Defence: Rs 4.91 lakh crore
Rural Development: Rs 2.66 lakh crore
Home Affairs: Rs 2.33 lakh crore
Agriculture & Allied Activities: Rs 1.71 lakh crore
Education: Rs 1.28 lakh crore
Health: Rs 98,311 crore
Urban Development: Rs 96,777 crore
IT & Telecom: Rs 95,298 crore
Energy: Rs 81,174 crore
Commerce & Industry: Rs 65,553 crore
Social Welfare: Rs 60,052 crore
Scientific Departments: Rs 55,679 crore
The capital expenditure for the financial year 2025-2026 has been raised to Rs 11.2 lakh crore. In FY25, the target was Rs 11.11 lakh crore.
Read full story here.
Income Tax Slabs Budget 2025 Live: No Income Tax Up To Rs 12 Lakh; New Slabs Announced
Income Tax Calculator 2025: Calculate Your Income Tax Today
Income Tax Slabs Budget 2025 Live: No Income Tax Up To Rs 12 Lakh; New Slabs Announced
The Budget proposes to exempt withdrawals from National Savings Scheme accounts on or after August 2024 from tax, announced Nirmala Sitharaman.
Nirmala Sitharaman proposes to extend time limit to file updated return from two years to four years. The new income tax code to have half the Chapters and half the words of the current regulation.
Tax deduction at source (TDS) rates will be rationalised, said Nirmala Sitharaman
Limit for tax deduction for senior citizens to be doubled to Rs 1 lakh.
Threshold to collect TDS on remittances under LRS to be increased to Rs 10 lakh from Rs 7 lakh.
Annual limit of Rs 2.4 lakh for TDS on rent raised to Rs 6 lakh.
Delay for payment of TCS up to due date to be decriminalised.
TCS on remittances if loan taken for education waived.
Read full story here.
"New Income Tax Bill to be clear, direct in text, with close to half of the present law. New Income Tax Bill to be simple to understand, lower litigation," said Nirmala Sitharaman, amid cheer in the Lok Sabha.
Budget 2025: Ola Electric, Amara Raja Shares Gain On Announcement For EV Battery Boost
The revised capex for FY25 is Rs 10.18 crore, against the target pf Rs 11.1 lakh crore.
Read story here.
Endeavour to keep fiscal deficit under control, said Nirmala Sitharaman.
FY25 total receipts at Rs 31.47 lakh crore.
Net tax receipts at Rs 25.5 lakh cr in FY25.
FY25 fiscal deficit at 4.8% of GDP.
Total receipts in FY26 at Rs 34.96 lakh crore.
Total expenditure in FY26 at Rs 50.65 lakh crore.
Net tax receipts in FY26 at Rs 28.37 lakh crore.
Fiscal deficit in FY26 estimated at 4.4%.
Net market borrowing in FY26 at Rs 11.54 lakh crore.
Gross market borrowing in FY26 at Rs 14.82 lakh crore.
Read full story here.
Budget 2025: Finance Minister Announces Measures To Boost Merchandise Exports
The FDI limit for insurance sector to be raised to 100%. Enhanced FDI limit for insurance sector to be applicable to those that invest entire premium in India, announced Nirmala Sitharaman.
Read story here.
In a major announcement, Nirmala Sitharaman said the government will introduce a new income tax bill next week.
Budget 2025: Finance Minister Announces New Classification Criteria For Small Industries
The government will allocate Rs 20,000 crore to implement private sector R&D and innovation. Deep tech fund of fund to be launched, announced FM Nirmala Sitharaman.
"Top 50 tourist destinations to be developed across the country. SWAMIH fund 2 will be established as a blended finance facility of Rs 15,000 crore. To provide PLI-linked incentives to states to aid development of tourism areas. Medical tourism and heal in India will be promoted in PPP mode," said Nirmala Sitharaman.
Read story here.
Mining sector reforms including for minor minerals will be encouraged, announced Nirmala Sitharaman.
Greenfield airports to be facilitated in Bihar, announced Nirmala Sitharaman.
Modified Udaan scheme to be launched to enhance regional connectivity. Udaan scheme to add 120 new destinations, carry four crore additional passengers in next 10 years.
Read story here.
"Development of at least 100 GW nuclear capacity by 2047 is essential. Nuclear Energy Mission for R&D of small modular reactors with Rs 20,000 crore outlay to be set up. Five small modular reactors to be operationalised by 2033. For active partnership with private sector, amendments to Atomic Energy Act and Civil Liability to Nuclear Energy Act will be taken up," said Nirmala Sitharaman.
Urban sector reforms to be incentivised. Urban Challenge Fund of Rs 1 lakh crore to be set up to finance up to 25% of bankable projects. Second plan for 2025-30 will be launched to plow back capital of Rs 10 lakh crore in new infra projects, announced Nirmala Sitharaman.
Budget 2025: ION Exchange, Thermax, Other Stocks Gain On Jal Jeevan Mission Extension
Crisil View: The additional budgetary allocation of Rs 10,000 crore will offer a fillip to the fast-growing AIF industry and encourage more domestic institutional fund flows into the category.
"Scheme for socio economic upliftment of urban workers to be set up. Social Security Scheme for welfare of online platform workers to be set up. ID cards of online delivery workers will be registered on government portal," announced Nirmala Sitharaman.
Centres of Excellence in AI for education to be set up with total outlay of Rs 500 crore, announced Nirmala Sitharaman.
On education, she listed these measures:
Additional infra to be created in five IITs started after 2014 to aid addition of 6,500 more students.
Government added 1.1 lakh undergraduate and PG medical seats in 10 years
10,000 additional seats to be added in medical colleges next year.
Aim to add 75,000 seats in medical colleges over 5 years.
Read story here.
The government will establish national institute of food technology, management in Bihar to bolster food processing activity.
Government to set up National Manufacturing mission covering small, medium, large industries to further 'Make In India', announced Nirmala Sitharaman. Manufacturing mission to also support clean-tech, build ecosystem for solar cells, EV batteries, high voltage transmission equipment.
Focused product scheme to be launched for footwear, leather sector.
Focused product scheme to create employment of 22 lakh, generate significant exports.
To launch scheme to make India global hub for toys.
Read story here.
New scheme to be launched for five lakh women, SC, ST first time entrepreneurs. Scheme to provide loans of Rs 2 crore for women, SC, ST first-time entrepreneurs.
Credit guarantee cover to be enhanced for MSMEs to Rs 10 crore from Rs 5 crore. Investment and turnover limit for classification of all MSMEs will be enhanced to 2.5 and 2 times respectively. Government will introduce customised credit cards with Rs 5 lakh limit for registered micro enterprises, announced FM Nirmala Sitharaman.
Budget 2025: Rallis India, UPL, Other Agriculture Shares Gain On Dhan Dhanya Krishi Yojana, Urea Supply
Budget 2025: Waterbase, Apex Frozen Foods, Godrej Agrovet Shares Surge
A Makhana board will be set up in Bihar, announced Nirmala Sitharaman. The snack has gained global popularity.
Bihar will hold assembly elections later this year.
Budget 2025: Waterbase, Apex Frozen Foods, Godrej Agrovet Shares Surge
"PM Dhan Dhanya Krishi Yojana to enhance agri productivity, adopt crop diversification, augment post harvest storage at panchayat, block level, bolster irrigation, improve availability of short and long-term credit," said Nirmala Sitharaman.
PM Dhan Dhanya Krishi Yojana will benefit 1.5 crore farmers. "Aim to create ample opportunity for rural areas so migration is an option, not necessity," FM said.
Read story here.
"A country is not just its soil, it is its people. Budget 2025 spans 10 broad areas focusing on garib, youth, annadata and nari. For journey of development agriculture, MSME, investments and exports are engines," said Nirmala Sitharaman.
Apart from an increase in the basic exemption limit to Rs 5 lakh, the middle class anticipates relief through a raise in the standard deduction from Rs 75,000 to Rs 1.25 lakh in the new tax regime and simplification of the new tax regime, according to Asit C. Mehta of Investment Intermediates Ltd.
Catch all the live updates on income tax here.
Finance Minister Nirmala Sitharaman will make her budget speech in Lok Sabha shortly. The house convenes at 11 am. Speaker Om Birla will call out the FM to begin her address.
The union cabinet chaired by PM Narendra Modi has approved the Union Budget 2025.
"PM's wishes are for the middle class and women. There is commitment for 8% growth. Credit flows have hurt the economy. If they are able to boost the GDP growth rate even higher, there will be enough resources. The best place where capex will reward the economy is infra," said Raamdeo Agrawal, Chairman & Co-founder, Motilal Oswal Financial Services to NDTV Profit.
Here are the top sectors to watch out for ahead of the #Budget2025. #NDTVProfitMarkets @theMihirV's top picks.
— NDTV Profit (@NDTVProfitIndia) February 1, 2025
Read latest #stockmarket updates on Budget Day, visit: https://t.co/pLt9wuKXQK pic.twitter.com/VHEeMMFn3A
"Govt is expected to focus on policies which will generate lot of employment generation. Deregulation and Govt capex on infra will be important," said Pranav Sayta of EY India.
"Focus have to be on non tax revenues. Dilution in path of fiscal consolidation will be a disappointment. Govt expenditure in FY26 is key to watch out. Capex growth expected at double digit growth. Capex spend in FY25 will be lower than expected," said Ashish Gupta, Chief Investment Officer, Axis AMC.
"Should do bold thinking on tax cut and middle class. Really should rethink over some old limits, have not been revised in many years," said Radhika Gupta of Edelweiss Mutual Fund.
Vikas Khemani, founder of Carnelian Asset Management & Advisors, said "Not as negative on budget expectations as others. Expect orderly capex to happen. Execution is more important than what numbers they put in the budget."
He also said there is a need to bring down the income tax rates for middle class
Finance Minister Nirmala Sitharaman's Budget speech is just an hour away. She has reached Parliament Complex where the Union Cabinet will meet and approve the budget. Then, she will speak in Lok Sabha at 11 am.
Finance Minister Nirmala Sitharaman on Saturday will present her eighth consecutive Budget, which she will deliver from a digital tablet enclosed in a traditional 'bahi-khata' style pouch.
Draped in an off-white handloom silk saree with fish-themed embroidery and golden border, Sitharaman posed for the traditional 'briefcase' photo outside her North Block office, accompanied by her team of officials, before heading to meet the President.
Nirmala Sitharaman Wears Madhubani Saree By Padma Awardee Dulari Devi On Budget Day
Finance Minister @NSitharaman with her team calls on President Droupadi Murmu ahead of #Budget2025. @rashtrapatibhvn
— NDTV Profit (@NDTVProfitIndia) February 1, 2025
Read #Budget2025 live updates: https://t.co/DzWLemwgWW pic.twitter.com/de1aFLu9z9
Rahul Arora, CEO of Nirmal Bang Institutional Equities, does not expect tinkering in taxes this budget. He said there is no reason why the market will not rally if no major negatives emerge. He points out that India is still the fastest-growing economy in the world. Lower valuations in China and impacts related to Trump are seen as short-term phenomena. Additionally, there are hints that a small rate cut cycle might start in India.
The Nifty 50 (-0.05%) and BSE Sensex (-0.04%) has swung to red soon after market open. India VIX down 1.77%.
Click here to track how budget is moving the markets.
Indian stocks will start trading on the NSE and BSE in today's special Budget session.
Income Tax Slabs Budget 2025 Live: Revision In Tax Slabs, Rates Coming? All Eyes On FM Sitharaman
The National Monetisation Pipeline, launched in August 2021, has identified assets worth Rs 6 lakh crore for FY22-25, with asset monetisation for FY22-24 reaching Rs 3.86 lakh crore against the target of Rs 4.30 lakh crore.
For FY25, aggregate monetisation target is set at Rs 1.91 lakh crore.
However, despite these efforts, there remains a significant unmet demand for infrastructure development. The goal of Viksit Bharat necessitates innovative modes of financing and greater private participation. The government's efforts need to be supplemented with increased capex and a willingness to adopt public-private partnerships to deliver infrastructure projects, the survey noted.
The private sector must reciprocate by improving its capacity to conceptualise projects, sharing risks and revenues, and demonstrating confidence in the government's policies.
After the Economic Survey 2025 was tabled in the Lok Sabha on Friday, the house was adjourned till 11 am today.
Speaker Om Birla will convene the house and lawmakers will be present to hear Finance Minister Nirmala Sitharaman's budget speech.
Marico Ltd., IndusInd Bank Ltd., Hero MotoCorp Ltd., Nestle India Ltd., Oil and Natural Gas Corp., and Vedanta Ltd. are among the top companies on brokerages' radar on Saturday, after they reported their third-quarter earnings.
Kotak Securities, Morgan Stanley and Macquarie have done a deep dive into the Indian economy, after the 2024-2025 Economic Survey was released by India's Chief Economic Advisor V. Anantha Nageswaran.
NDTV Profit tracks what analysts are saying about various stocks and sectors. Read all analyst calls to keep an eye out for on Saturday.
#WATCH | Delhi: Union Finance Minister Nirmala Sitharaman leaves from her residence. She will present #UnionBudget2025 at the Parliament today. pic.twitter.com/kcf4aEZz0h
— ANI (@ANI) February 1, 2025
#WATCH | #UnionBudget2025 | Delhi: MoS Finance Pankaj Chaudhary says, "Everything will be before you by 12 pm...Have some patience. You will get to know everything..." pic.twitter.com/hfwr4LhxH0
— ANI (@ANI) February 1, 2025
Financials: The overweight stocks in this sector include Kotak Mahindra Bank, ICICI Bank, State Bank of India, KFin Technologies, HDFC AMC, LIC Housing Finance, Shriram Finance, SBI Life, and Life Insurance Corp.
Industrials: The preferred stocks in this category are Larsen & Toubro and Hindustan Aeronautics.
Healthcare: The overweight allocation includes Sun Pharma, Lupin, Mankind, Max Healthcare, Rainbow Hospitals, and Fortis Healthcare.
Real Estate: Stocks in this sector with a favourable allocation are DLF, Godrej Properties, and Oberoi Realty.
Consumer: The brokerage is overweight with favoured stocks including Hindustan Unilever, Colgate, Marico, Mahindra & Mahindra, Jubilant FoodWorks, and MakeMyTrip.
Cement: UltraTech is the overweight stock in this sector.
Underweight Sectors: JPMorgan has an underweight stance on materials and passenger vehicles.
Speculations are rife that some relief could be on the cards for the middle class, as the government might look to raise disposable income to address the lull in urban consumption.
There is anticipation over likely measures to be announced in the Union Budget 2025 that can further simplify the taxation norms. The government is also expected to separately roll out the Direct Tax Code — the new income tax bill which will be aimed at simplifying compliance.
For all the live updates related to changes and tweaks in the tax policies, follow NDTV Profit's live coverage here.
Railways: The Budget will likely sustain the healthy growth in Railway capital expenditure with priority on passenger mobility and safety systems, according to industry executives. Budget allocation for the Indian Railways has seen a steady rise over the years, with Rs 1.59 lakh crore allocated in fiscal 2023, marking a 35.5% growth, followed by Rs 2.4 lakh crore the next year, a significant 50.9% increase. For FY25, the allocation stands at Rs 2.52 lakh crore, reflecting a moderate 5.8% growth.
Housing: Amid a dip in GDP growth, the government could initiate measures to boost construction activity to foster job creation in this labour-intensive segment. Last year, affordable housing budget outlay rose 56% to Rs 84,700 crore. The sector now expects support to homebuyers by tweaking taxation and broadening the definition of affordable housing.
Defence: The budget is expected to focus heavily on the defence sector, with increased capital allocation, emphasis on indigenisation, domestic procurement, and initiatives to boost defence exports. Larger defence programmes are likely to drive higher orders in 2025. India's defence spending has steadily risen, with Rs 6.21 lakh crore allocated in FY25, marking an 18% growth from Rs 5.94 lakh crore in FY24, itself higher by 13%.
Ahead of budget on Friday, the Indian equity benchmark indices closed higher four days in a row but extended its monthly losing streak.
Foreign portfolio investors stayed net sellers of Indian equities for the 21st straight session on Friday as they sold stocks worth approximately Rs 1,189 crore. Domestic institutional investors were net buyers for the 32nd consecutive session.
Major earnings after market close were of IndusInd Bank, ONGC, Bandhan Bank, LIC Housing Finance, Inox Wind, among others.
Nifty February futures end 0.94% higher at a premium of 111 points and open interest rose 2.77%.
The Indian rupee closed flat against the US dollar on Friday at 86.62.
Read in detail here.
Oil marketing companies have revised the prices of commercial LPG gas cylinders ahead of the Union Budget 2025. The rate of 19 kg commercial LPG gas cylinders has been reduced by Rs 7 with effect from today, as per Indian Oil Corp website.
Check revised rates:
Delhi: Rs 1,797
Kolkata: Rs 1,907
Mumbai: Rs 1,749.5
Chennai: Rs 1,959.5
Get insights on #Budget2025 from industry experts on NDTV Profit. Stay tuned on February 1 from 7 AM onwards.
— NDTV Profit (@NDTVProfitIndia) January 31, 2025
For the latest news and updates on #Budget2025, visit: https://t.co/by4FF5o0Ew pic.twitter.com/w3yoPlQfDA
Pre-Budget Report Suggests Making Vertical Gardens Integral To Urban Development
Stock Market Live: Eyes On Nifty, Sensex Ahead Of Budget; IndusInd Bank, ONGC, GAIL In Focus
Here are five reasons why #Budget2025 is crucial for India. @TamannaInamdar
— NDTV Profit (@NDTVProfitIndia) February 1, 2025
Read latest #stockmarket updates on Budget Day, visit: https://t.co/pLt9wuKXQK pic.twitter.com/KKpGdv8TK8
Budget For World's Fastest-Growing Major Economy: Key Numbers To Be Watched
Analysts expect the Union Budget 2025 to address a major issue that has been hurting the profitability of oil marketing companies like Indian Oil, Bharat Petroleum Corp., and Hindustan Petroleum Corp.
The OMCs have been facing losses on their LPG sales all of FY25 due to the ministry regulations. Macquarie and IIFL Securities' analysts expect compensation for these losses to come through in the upcoming Budget.
Currently, LPG prices in India are subsidised to ensure affordability for domestic consumers. Oil companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum not only produce their own LPG, but also import it from international sources and sell it domestically.
Read story here.
Budget 2025 Expectations: Nirmala Sitharaman Presents Economic Report, CEA Nageswaran's Address—As It Happened
Budget 2025: Are NSE, BSE Open Or Closed On Saturday, Feb. 1?
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