Finance Minister Nirmala Sitharaman will present the Union Budget in Parliament on February 1, 2025. The budget session will begin on January 31, 2025, with the formal opening of the budget session with the address by President Draupadi Murmu. This time the budget holds special significance as Nirmala Sitharaman will set a new record by presenting the budget for the eighth consecutive time.
Earlier, the record of presenting the most consecutive budgets in India was held by C.D. Deshmukh and Morarji Desai, who had presented the budget six times each. However, Morarji Desai had presented the budget a total of 10 times in his career. Now Nirmala Sitharaman will break this record by presenting eight consecutive budgets.
The first phase of the budget session will run from January 31 to February 13, while the second phase will be from March 10 to April 4, 2025. Despite the budget presentation day being a Saturday, trading on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will continue as usual.
The general public is expecting many important announcements from this budget. There is a possibility of changes in the income tax slab, which may provide relief to taxpayers. There is speculation that the standard deduction will be increased from the current Rs 50,000 to Rs 1,00,000. Apart from this, the government is expected to take concrete steps towards controlling inflation, improving healthcare facilities and creating employment.
Trade, industry, education, agriculture and environment sectors are also expecting important schemes from this budget. These efforts of the government are likely to strengthen the economic situation and give new direction to various sectors. Now it will be interesting to see what kind of corrective measures the Finance Minister announces in this budget.
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