India is the world's fastest-growing economy, and the government will ensure tremendous growth in coming years across the spectrum on the way to becoming "Viksit Bharat", Union Finance Minister Nirmala Sitharaman said on Saturday.
Presenting her eighth consecutive budget and the NDA government's second full Union Budget of its third term, the Finance Minister said the Budget focuses on spurring agricultural growth, empowering farmers, supporting MSMEs and ensuring innovation while promoting exports.
"MSMEs, agriculture and exports are some of our growth engines and we will continue to strengthen these sectors," she said.
"This Budget continues the government's efforts to accelerate growth, secure inclusive development. It aims to invigorate private sector investments, uplift household sentiments and bolster the power of India's rising middle class," FM Sitharaman said in her initial comments.
The Budget Session of Parliament, which commenced on Friday, will be conducted in two phases - the first started on January 31 and will conclude on February 13, while the second phase will begin on March 10 and end on April 4.
FM Sitharaman surpassed the record of former Prime Minister and Finance Minister Morarji Desai last year when it comes to presenting the Union Budget.
According to the Economic Survey 2024-25, financial inclusion is a key focus, with rural households and small businesses getting easier access to credit through microfinance institutions, self-help groups and other intermediaries. It outlines key initiatives in infrastructure, rural housing, sanitation, clean fuel, social protection, and connectivity, along with efforts to boost rural livelihoods.
The survey has also highlighted that rising private consumption is playing a key role in helping India's domestic economy remain steady amid global uncertainties.
Rs 25,000 crore corpus for maritime fund to boost shipbuilding in Budget 2025-26
Finance Minister Nirmala Sitharaman, presenting the Budget for 2025-26, on Saturday proposed setting up a Maritime Development Fund with a corpus of Rs 25,000 crore for the long-term financing of the maritime industry.
Preparations for PM Modi's US visit after Paris AI Summit enters final stages
India and the United States continue to work on an "early visit" of Prime Minister Narendra Modi to Washington this month, that could possibly take place immediately after his participation in the Artificial Intelligence (AI) Action Summit hosted by France at the Grand Palais in Paris on February 10 and 11.
Old vs New Tax regime: What has changed for middle class in Budget 2025-26
In a major move to ease the tax burden on middle-class taxpayers, Finance Minister Nirmala Sitharaman on Saturday announced fresh tax slabs under the New Tax regime in the Union Budget 2025-26.
Big leap in tax exemption limit: Modi govt breaks away from UPA’s style of offering small reliefs
The Narendra Modi government 3.0 has continued the focus on income tax relief for the salaried class initiated by the NDA government in 2014, breaking away from the UPA’s practice of offering small doses of tax savings to the middle class.
FM Sitharaman goes for big push to job-led inclusive growth in Budget 2025-26
Finance Minister Nirmala Sitharaman on Saturday presented the Budget 2025-26 in the Parliament with an aim at accelerating employment-led inclusive growth, propelled by investments in the agricultural and rural sector, MSMEs and exports while sticking to the fiscal consolidation path.
Rs 1 lakh crore Urban Challenge Fund to implement ‘Cities as Growth Hubs’
Union Finance Minister Nirmala Sitharaman, while presenting the Budget 2025-2026 in the Parliament on Saturday, said that the Government will set up an Urban Challenge Fund of Rs 1 lakh crore to implement the proposals for ‘Cities as Growth Hubs’, ‘Creative Redevelopment of Cities’ and ‘Water and Sanitation’ announced in the July Budget.
Union Budget: FM exempts basic customs duty on 36 life-saving drugs; boosts medical tourism
Union Finance Minister Nirmala Sitharaman on Saturday announced exemptions on basic customs duty on 36 life-saving drugs and also gave a big boost to medical tourism.
Two Israeli hostages released after 484 days by Hamas
Israel on Saturday announced the release of two hostages -- Ofer Calderon and Yardan Bibas -- by Hamas in the Gaza Strip after 484 days of abduction.