Today is 1st February and today our Finance Minister Nirmala Sitharaman will present the budget. As it is our tradition that whenever we going to start any “Subh Kaam”, before that we eat curd-Cheeni. And our President Droupadi Murmu maintain this tradition and called Finance Minister for Dahi-Cheeni.
Finance Minister Nirmala Sitharaman met President Droupadi Murmu at Rashtrapati Bhavan today before presenting the Union Budget 2025 in Parliament. Following tradition, President Murmu offered her ‘dahi-cheeni’ (curd and sugar), a gesture believed to bring good luck.
Ms. Sitharaman was accompanied by Minister of State for Finance Pankaj Chaudhary and other senior officials. She discussed key aspects of the Budget with the President before heading to a Cabinet meeting, where the Union Cabinet gave its formal approval.
After the meeting, Ms. Sitharaman proceeded to Parliament to present her eighth consecutive Budget speech in the Lok Sabha.
She carried the Budget on a digital tablet encased in a red ‘bahi-khata’ pouch, a practice she introduced in 2019 to replace the old British-era Budget briefcase. Since 2021, she has presented the Budget in digital format, continuing this for the fifth year. Before her, finance ministers like Arun Jaitley and Piyush Goyal used briefcases, a tradition dating back to the 1860s when British Chancellor William Gladstone carried Budget papers in a red leather case.
Presenting this budget will bring Ms. Sitharaman closer to the record of 10 budgets presented by former Prime Minister Morarji Desai at different times. The budget is expected to include measures to support slowing economic growth while maintaining fiscal discipline. It will likely focus on boosting consumption while staying on track to reduce the fiscal deficit.
A day before the Budget presentation, the Economic Survey 2024-25 predicted that India’s GDP would grow between 6.3% and 6.8% in the financial year 2025-26.
The Budget session of Parliament started on January 31 with a joint address by President Droupadi Murmu. The first phase of the session will continue until February 13, followed by a break. Both Houses will resume on March 10, and the session will conclude on April 4.
India’s economy is expected to grow between 6.3% and 6.8% in 2025-26, up from an estimated 6.4% this year, according to the Economic Survey 2024-25 presented in Parliament on January 31, 2025.
Mission Manufacturing
In her budget speech, Ms. Sitharaman announced the launch of a National Manufacturing Mission to support small, medium, and large industries as part of the Make in India initiative. This mission will also promote clean tech manufacturing and help develop the ecosystem for solar cells, EV batteries, motors, controllers, wind turbines, and grid-scale batteries.
Ms. Sitharaman: Agriculture as the First Engine
M Dhan Dhanya Krishi Yojana – A new program to develop agricultural districts, covering 100 districts.
High-Yield Seed Mission – A national initiative to promote high-yielding seeds for better crop productivity.
Vegetables & Fruits Program – A comprehensive scheme in partnership with states to boost fruit and vegetable production.
Makhana Board in Bihar – A dedicated board will be set up in Bihar to support makhana (fox nut) farmers.
Fisheries Growth Framework – India, the second-largest producer of fish globally, will introduce policies for sustainable fisheries.
Cotton Productivity Mission – A special mission to improve cotton farming efficiency and output.
Kisan Credit Card Expansion – Loan limits for 7.7 crore farmers, fishermen, and dairy farmers will increase from ₹3 lakh to ₹5 lakh.
Urea Production Boost – A new plant in Assam will be set up with an annual capacity of 12.7 lakh metric tonnes to support self-reliance in urea production.
India Post’s Rural Role – With 1.5 lakh rural post offices and India Post Payment Bank, India Post will be strengthened to support the rural economy and transform into a major public-sector logistics provider.