Finance Minister Nirmala Sitharaman on Saturday presented the Budget 2025-26 in Parliament which aims to give a big push to employment-led growth with its focus on the agricultural and rural sector, MSMEs, and exports, while sticking to the fiscal consolidation path to ensure stability in the economy.
She has kept the budget deficit target on a declining path to 4.4 per cent of GDP in 2025-26 from 4.8 per cent of GDP in 2024-25.
The net market borrowing for the budget has been fixed at Rs 11.54 crore while the rest of the funds will come from small savings schemes, the Finance Minister said.
The government’s gross borrowing target for FY26 was revised upwards by 5.7 per cent to Rs 14.82 lakh crore. Earlier, it was set at Rs 14.01 lakh crore for FY25.
"In the July Budget, I committed to staying the course for fiscal consolidation... Our endeavour will be to keep the fiscal deficit each year such that the Central government debt remains on a declining path as a percentage of the GDP," FM Sitharaman said.
"Coming to 2025-26, the total receipts other than borrowings and the total expenditure are estimated at Rs 34.96 lakh crore and Rs 50.65 lakh crore, respectively. The net tax receipts are estimated at Rs 28.37 lakh crore. The fiscal deficit is estimated to be 4.4 per cent of GDP," the Finance Minister added.
In the FY'25 Budget, the government projected gross tax revenue at Rs 38.40 lakh crore, marking an 11.72 per cent increase from FY'24. This includes Rs 22.07 lakh crore from direct taxes (personal income and corporate tax) and Rs 16.33 lakh crore from indirect taxes (customs, excise, GST).
UK PM announces new 1.6-billion-pound deal for Ukraine to buy missiles
British Prime Minister Keir Starmer announced that Britain will allow Ukraine to use 1.6 billion pounds ($2 billion) of British export finance to purchase more than 5,000 air defence missiles.
'PM Modi working for welfare of all communities without discrimination', says Hazrat Nizamuddin Dargah Committee chief
Hazrat Nizamuddin Aulia Dargah Committee Chairman Syed Afsar Ali Nizami on Sunday praised Prime Minister Narendra Modi for attending the Sufi music festival 'Jahan-e-Khusro' and said that he gave the message of brotherhood and works for the welfare of all communities and religion without any discrimination.
Mizoram: Security forces seize drugs valued at Rs 66.31 crore
The Assam Rifles in association with Mizoram Police in two separate joint operations have seized huge quantities of drugs worth Rs 66.31 crore from bordering Champhai district, which shares unfenced border with Myanmar and a hotspot of drugs smuggling, officials said on Sunday.
International Wheelchair Day: India emphasises inclusion of persons with disabilities
This day not only highlights the significance of wheelchairs in the lives of users but also serves as an important opportunity to enhance awareness and inclusivity in society, said the ministry on the occasion of the ‘International Wheelchair Day 2025’.
BJP committed to holistic development of Tripura – CM Dr Manik Saha celebrates 2 years of BJP’s second tenure in Tripura
Chief Minister Dr Manik Saha on Sunday joined the party’s celebration of 2 years of its second tenure in Tripura and said that the BJP is committed to holistic development of the state.
Communism is a system designed to ruin future of youth: Biplab
Former Tripura Chief Minister and Lok Sabha MP Biplab Kumar Deb launched a scathing attack on the CPI(M), asserting that Communism is a system designed to ruin the future of youth and women.
5 including four Govt officials arrested for embezzlement of Rs 29 Lakh in Sepahijala SP Office
Five individuals, including four government officials, have been arrested for their involvement in the embezzlement of Rs 29.04 lakh from the office of the Sepahijala District Superintendent of Police. A case was filed in February 2024 by the Drawing and Disbursing Officer (DDO) of the SP's office, leading to an investigation.
Another member of robbery gang held, Weapons, TSR uniforms seized
Tripura Police of Churaibari police station has arrested another active member of the dacoity gang involved in the recent armed heist in Gobindapur, North Tripura district.