Sun Feb 02 04:49:08 IST 2025: **India Awaits Budget 2025: Tax Cuts Expected, Growth Projections Moderate**
NEW DELHI, February 1, 2025 – Union Finance Minister Nirmala Sitharaman presented her eighth consecutive budget today, the first full budget of the Modi government’s third term. The budget, delivered at 11 am, is available for viewing on Doordarshan, Sansad TV, and Upstox’s YouTube channel.
The budget is anticipated to include reductions in income tax rates or slabs, aiming to stimulate consumption and provide relief to the middle class. This expectation follows Prime Minister Narendra Modi’s Friday invocation of Lakshmi, the goddess of wealth, expressing a wish for blessings upon the poor and middle class.
The budget follows the Economic Survey 2024-25, which projects India’s GDP growth to range between 6.3% and 6.8% in fiscal year 2025-26 (FY26). This projection is lower than the 8% growth rate deemed necessary by the pre-budget document to achieve developed nation status by 2047. The current financial year’s GDP growth is expected to be 6.4%. Upstox is providing live updates, breaking news, and analysis throughout the day.
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