Finance Minister Nirmala Sitharaman will present 8th consecutive budget today

New Delhi (Team Newsbuddy): Finance Minister Nirmala Sitharaman will present the General Budget 2025 for the eighth consecutive time today. In this budget, income tax rates / slabs can be cut or changed to reduce the burden of the middle class. This is the first full budget of the third term of the Narendra Modi government. It is being presented against the backdrop of geopolitical uncertainties and economic growth rate reaching a four-year low.

What are the expectations this year?: The Union Budget 2025 is expected to focus on boosting India’s manufacturing sector under the ‘Developed India’ target. The budget is also expected to focus on reducing the tax burden of the middle class, boosting consumption and maintaining fiscal prudence. There is a strong push for investment in manufacturing, infrastructure and job creation. There is also scope for customs reforms, skill development and agricultural value chain enhancement.

What does the Economic Survey say about growth? The Economic Survey 2024-25 has projected India’s GDP growth rate for FY26 at 6.3-6.8%, with an emphasis on domestic growth over exports. Achieving a developed India by 2047 requires 8% annual growth, 35% investment rate and expansion in manufacturing, AI, robotics and biotechnology.