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Budget 2025 Live: Nirmala Sitharaman will present the Union Budget today for the eighth consecutive time in Parliament, becoming the only finance minister to register this feat. This is also the first full budget for the third term of Prime Minister Narendra Modi’s central government.
Budget 2025 Live: Union Finance Minister Nirmala Sitharaman gives final touches to the Union Budget 2025-26 at her office in North Block, in New Delhi. She will be the only finance minister to present eight consecutive budgets.
Budget 2025 Live: The Union Budget for financial year (FY) 2025-26 will be presented today by Nirmala Sitharaman, who will be creating a record for being the only finance minister to do so for the eighth consecutive time. The Union Budget 2025 has generated significant anticipation and expectations, as it will be the second budget under the leadership of Prime Minister Narendra Modi’s third term.…Read More
The Budget Session of Parliament commenced on Friday, January 31, with President Droupadi Murmu’s address to both Houses. According to the Parliamentary Bulletin, the Budget Session will be in two phases: The first that began January 31 includes the Union Budget on February 1 and will conclude on February 13; the second part of the session will commence on March 10 and will conclude on April 4.
Union Budget 2025 | Key points
-Finance Minister Nirmala Sitharaman will present the Union Budget for the financial year 2025-26 today, February 1.
-Nirmala Sitharaman will become the first finance minister to present the budget for eight consecutive times, however, she does not hold the record for presenting the most budgets.
-Former Prime Minister Morarji Desai holds the record of presenting the most budgets over different time periods. Morarji Desai has presented a total of 10 budgets – six during his tenure as finance minister in 1959-1964, and four budgets between 1967-1969.
-According to sources cited in a news agency ANI report, the government is considering hiking income tax slabs and enhancing the standard deduction to address the concerns of middle-class taxpayers amid rising inflation.
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Union Budget 2025 Live: Comparing the new and old tax regimes
Union Budget 2025 Live: The Union Budget 2025 has sparked speculation whether there will be any revision of tax regime. According to sources cited in a news agency ANI report, the government is considering hiking income tax slabs and enhancing the standard deduction to address the concerns of middle-class taxpayers amid rising inflation.
New tax regime
In the revised new tax regime announced in the Union Budget 2024, tax rates were simplified, with a structure that starts with tax-free income up to ₹3 lakh.
Income between ₹3 lakh and ₹7 lakh: Taxed at 5%.
Income between ₹7 lakh and ₹15 lakh: Taxed at 10%.
Income above ₹15 lakh: Taxed at 30%.
This regime is designed to be simpler, with no need for taxpayers to claim deductions or exemptions, making it easier to file taxes for individuals with straightforward incomes.
Old tax regime
The old tax regime allows individuals to claim various deductions and exemptions, which can reduce taxable income significantly:
Up to Rs. 3 lakhs – Nil
₹3 – 6 lakh – 5%
Rs.6 – 9 lakh – 20%
Rs. 9-12 lakh – 30%
The old tax regime allows deductions and exemptions like:
₹1,50,000 under Section 80C for investments (e.g., PPF, ELSS).
₹50,000 as a standard deduction for salaried individuals.
Up to ₹2,00,000 for home loan interest under Section 24(b).
These deductions provide a significant advantage for those who make the most of them, particularly individuals with higher expenses or investments that qualify for tax breaks.
Union Budget 2025 Live: Budget Session to take place in two phases
Union Budget 2025 Live: The Budget Session of Parliament commenced on Friday, January 31, with President Droupadi Murmu’s address to both Houses. According to the Parliamentary Bulletin, the Budget Session will be in two phases: The first that began January 31 includes the Union Budget on February 1 and will conclude on February 13; the second part of the session will commence on March 10 and will conclude on April 4.
Union Budget 2025 Live: Record 8th budget presentation for Nirmala Sitharaman
Union Budget 2025 Live: Nirmala Sitharaman will present the Union Budget for a record eighth consecutive time today, the only finance minister to do so. This will take Nirmala Sitharaman closer to the record of 10 budgets that were presented by former Prime Minister Morarji Desai over different time periods. Desai has presented a total of six budgets during his tenure as finance minister in 1959-1964, and four budgets between 1967-1969.
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Union Budget 2025 Live: Budget presentation time
Union Budget 2025 Live: The Union Budget 2025 will be presented at 11 am by Finance Minister Nirmala Sitharaman today.
The Budget used to be presented on the last day of February at 5 pm till 1999, based on a colonial era practice when the announcements could be made in London and India at the same time. India is four hours and thirty minutes ahead of the British Summer Time, and so presenting the budget at 5 pm in India ensured that it was happening in the daytime in the United Kingdom.
The timing was changed in 1999 when the then finance minister Yashwant Sinha in the Atal Bihari Vajpayee government presented the budget at 11 am.
Union Budget 2025 Live: Modi govt 3.0’s second budget presentation today
Union Budget 2025 ive: Finance Minister Nirmala Sitharaman will be presenting Narendra Modi 3.0 government’s second budget today, February 1.
This also marks the first time a finance minister will be presenting the budget for the eighth straight time.
News business Budget 2025 Live: Modi govt 3.0’s first full budget to be presented today
