Union Budget 2025

Budget 2025: What it means for you
The Union Budget is more than a financial statement - it is a roadmap that charts India's economic trajectory. As we gear up for Budget 2025, here’s a closer look at the numbers, milestones, and history that make this event so significant.

Looking back: How Budgets have shaped India’s economy
India’s Union Budgets reflect the country’s evolving priorities and challenges. Here’s how they’ve paved the way for India’s economic growth:

• Post-Independence Era (1947-1970s):
  In the early years, budgets focused on building a self-reliant economy with investments in industries and public sector enterprises. The first Budget, presented by R.K. Shanmukham Chetty in 1947, allocated ₹92.74 crore for defence - a stark reminder of post-Partition challenges.
• The Liberalisation Revolution (1980s-1990s):
  The 1991 Budget, presented by then Finance Minister Manmohan Singh, is widely regarded as a turning point in India’s economic history. It introduced bold reforms, slashed import duties, and opened the economy to foreign investment, pulling India out of a severe economic crisis.
• Inclusive Growth (2000s):
  Budgets in this period prioritized rural development, education, and healthcare. The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) was a hallmark initiative aimed at providing employment in rural areas.
• Digital and Green Push (2019-2024):
  Under Finance Minister Nirmala Sitharaman, budgets in recent years have focused on digital infrastructure, green energy, and initiatives such as the Digital India program and the Gati Shakti master plan for logistics.

Budget 2025: Numbers to watch
As the Narendra Modi government prepares to unveil its plans, here are the key metrics and allocations to follow:

1. Fiscal Deficit:
   The government aims to reduce the fiscal deficit, which was set at 4.9% of GDP in the last budget. This will indicate how much the government plans to borrow.
2. Capital Expenditure:
   The previous budget allocated a record ₹11.11 trillion for infrastructure projects. A further increase could highlight a continued emphasis on growth-driving initiatives.
3. Healthcare and Education Spending:
   Expect allocations for health infrastructure, medical research, and education technology to address post-pandemic challenges and skill gaps.
4. Green Energy Initiatives:
   Renewable energy, electric vehicles, and sustainable agriculture are expected to be big-ticket items, with increased subsidies and incentives.

Did You Know?

• Longest Budget Speech:
  Nirmala Sitharaman holds the record for the longest Budget speech, delivering it over 2 hours and 42 minutes in 2020.
• Budget Time Shift:
  Until 1999, the Budget was presented at 5 PM, a legacy of British rule. Former Finance Minister Yashwant Sinha changed it to 11 AM, aligning with Indian working hours.
• First Digital Budget:
  In 2021, Nirmala Sitharaman ditched paper documents and presented India’s first fully digital Budget on a tablet.
• Budget Date Shift:
  The Budget presentation was advanced to February 1 in 2017 to allow ministries enough time to implement fiscal measures from April 1, the start of the financial year.

Why Budget 2025 matters
Budget 2025 has the potential to shape India’s economic landscape for years to come. Whether it’s tax relief for households, incentives for businesses, or investments in healthcare and education, the decisions made this year will influence millions of lives.