Fri Jan 31 07:35:35 IST 2025: ## India Awaits Union Budget 2025: Sitharaman to Present Eighth Budget
**NEW DELHI** – Finance Minister Nirmala Sitharaman is set to present the Union Budget 2025 on February 1st, 2025, at 11 am. This will mark her eighth budget presentation, and the second full budget of the Modi government’s third term. While official confirmation is pending, the budget will be broadcast live on various news channels and available online at indiabudget.gov.in.
The Union Budget, a crucial document outlining the government’s financial plans for the upcoming fiscal year, details estimated revenue and proposed expenditure. Its preparation is a lengthy process involving multiple ministries and top officials, culminating in review and finalization by the Finance Minister and Prime Minister. This year, keen anticipation surrounds potential changes to income tax and other key areas.
The article also highlights the differences between the Union Budget and State Budgets. While the Union Budget covers the central government’s finances, State Budgets are prepared individually by each state government, reflecting variations in revenue sources and expenditure patterns. Both are part of India’s three-tier government system, which also includes local government budgets. The Union Budget plays a pivotal role in shaping national economic policy and resource allocation.
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