Live Budget 2025 highlights: Assam CM Himanta Biswa Sarma hails tax relief, fertilizer factory announcement

Assam Chief Minister Himanta Biswa Sarma has expressed strong support for the Union Budget 2025, presented by Finance Minister Nirmala Sitharaman, highlighting key measures that benefit the middle class and the state’s development.

Uttarakhand Chief Minister Pushkar Singh Dhami lauded the Union Budget 2025, describing it as a reflection of Prime Minister Narendra Modi’s farsighted vision and commitment to building a Viksit Bharat.

Highlighting key provisions, Dhami emphasized that the budget caters to farmers, the poor, women, and the middle class, ensuring inclusive growth. "This is a budget that provides for every section of society and brings everyone forward," he stated.

The Chief Minister particularly welcomed the government’s decision to exempt income tax up to ₹12 lakh, calling it a major boost for the middle class. "This move will significantly uplift middle-income groups and strengthen their financial stability," he said.

Congratulating Finance Minister Nirmala Sitharaman and Prime Minister Narendra Modi, Dhami reiterated that the budget paves the way for economic growth and development across all sectors.

In response to the Union Budget 2025, Congress leader P. Chidambaram expressed concerns about the lack of relief for the general public, highlighting key areas where he felt the budget fell short. Speaking to the media, Chidambaram pointed out that the budget failed to address essential needs such as reducing GST, cutting petrol and diesel prices, increasing MGNREGA wages, and raising statutory minimum wages.

External Affairs Minister S. Jaishankar on Saturday praised the Union Budget 2025, calling it “forward-looking, employment-centric, and growth-oriented.” Taking to social media platform X, Jaishankar congratulated Finance Minister Nirmala Sitharaman for presenting a budget that aligns with the vision of Prime Minister Narendra Modi.

Union Coal Minister G. Kishan Reddy hailed the Union Budget 2025-26 as a visionary and transformative financial roadmap that empowers farmers, the middle class, women, and entrepreneurs. He emphasized that the budget lays a strong foundation for ‘Viksit Bharat’ (Developed India) by driving economic reforms and promoting self-reliance.

Highlighting key reforms, Reddy stated that the budget enhances ‘Ease of Doing Business’, expands financial access for MSMEs and startups, and fosters a robust investment environment. These measures aim to stimulate economic growth and innovation across industries.

Union Finance Minister Nirmala Sitharaman emphasized that the government, under Prime Minister Narendra Modi’s leadership, remains highly responsive to public concerns. She stated that reforms are driven by the needs and expectations of the people.

Sitharaman highlighted that the income tax simplification measures announced in July have been fully implemented, and the bill will be presented next week. She reaffirmed the government’s commitment to making taxation simpler and more efficient.

Union Finance Minister Nirmala Sitharaman has assured that there is no reduction in public spending on capital expenditure, emphasizing the government’s continued focus on infrastructure and economic growth.

Sitharaman highlighted that capital expenditure by the government has had a strong multiplier effect on the economy, driving sustained growth. She reiterated that this approach will continue to be a key priority in economic planning.

Union Finance Minister Nirmala Sitharaman emphasized that the Union Budget 2025 reflects the responsive governance of Prime Minister Narendra Modi. She stated that the government listens to the concerns of the people and acts swiftly to address them.

Sitharaman pointed out that the income tax simplification announced in July has already been completed, and the new bill will be introduced in Parliament next week. She reaffirmed the government’s commitment to tax reforms aimed at easing compliance for taxpayers.

Finance Minister Nirmala Sitharaman is addressing post-Budget press conference 

Former Karnataka Chief Minister Basavaraj Bommai has hailed the Union Budget 2025 as a growth-oriented budget, emphasizing its provisions for the agriculture and MSME sectors. He stated that the budget prioritizes rural development through an enhanced rural credit system, which will benefit farmers, rural women, and youth.

Uttar Pradesh Chief Minister Yogi Adityanath has praised the Union Budget 2025, calling it a crucial step toward achieving the vision of Viksit Bharat (Developed India). He highlighted that Finance Minister Nirmala Sitharaman, under Prime Minister Narendra Modi’s leadership, has structured the budget into four key parts to ensure balanced economic growth.

Speaking on the Union Budget 2025, Puri highlighted that it is an inclusive budget catering to all sections of society. Acknowledging past concerns about the middle class not receiving adequate relief, he noted that this budget provides significant benefits to them.

Puri also pointed out the budget’s emphasis on startups, artificial intelligence (AI), and advancements in healthcare, including cancer drug research. He called it a “budget for development,” aimed at fostering innovation and economic growth.

Union Minister and BJP National President JP Nadda lauded the Union Budget 2025 presented by Finance Minister Nirmala Sitharaman, calling it a “balanced, all-inclusive, and development-promoting” financial roadmap that aligns with the vision of a developed India.

"In the budget, priority has been given to all the sectors of employment in every way. I would like to discuss those reforms which are going to bring a big change in the coming times. Due to giving an infrastructure status, the construction of big ships in India will be encouraged, the Atmanirbhar Bharat Abhiyan will get momentum. We all know that SHIP building construction is the sector that gives maximum employment. Similarly, there is a lot of potential for tourism in the country. Hotels will be built at 50 important tourist stations, for the first time, by bringing hotels under the ambit of infrastructure, tourism will get a big boost. This will give energy to the hospitality sector, which is a very big sector of employment..."

"This budget is a force multiplier. This budget will increase savings, investment, consumption and growth rapidly. I congratulate Finance Minister Nirmala Sitharaman and her entire team for this Janta Janardan's, People's budget."

Prime Minister Narendra Modi said, "Today is an important milestone in India's development journey. This is the budget of aspirations of 140 crore Indians. This is a budget that fulfils the dreams of every Indian. We have opened many sectors for the youth. The common citizen is going to drive the mission of Viksit Bharat."

PM Narendra Modi's reacts to Nirmala Sitharaman's Budget 

Piyush Goyal said, "A lot of solutions have been given. Firstly when you give more disposable income to the middle class and money in their pockets, give a big relief in income tax, then from that convenience, growth gets a big fillip, a big encouragement. Along with that, many changes have been made in the sectors, especially the job-oriented sectors, leather, toile, textile, and tourism, the provisions in this budget will provide new means of employment to the people, and new facilities will be provided. Income levels will increase... In a way, whether it is the field of technology, manufacturing, agriculture, or tourism, by giving some benefit and facility to everyone, an inclusive balanced budget has been prepared with very strategic thinking, under a well-thought-out strategy, this budget is the budget of 140 crore countrymen..."

Defence Minister Rajnath Singh said, "The budget presented by Finance Minister Nirmala Sitharaman is a great budget to realize the dream of developed India. All sections of the society have been taken care of in this budget. This budget is going to promote the development of youth, poor, farmers, women and all sections and sectors of society...In the budget for the financial year 2025-26, more than Rs 6.81 lakh crore has been allocated to the Defence Ministry, which is about 9.5 per cent more than last year's budget allocation and modernisation of defence forces has been the priority of our government and for this also, a capital allocation of Rs 1.80 lakh crore has been made in 2025-26, which will increase the capacity of our forces more than ever before..."

Union Minister Chirag Paswan said, "...I would like to thank PM Modi and FM Nirmala Sitharaman as this Budget strengthens the idea of building a developed country with which we are going forward. This Budget has provisions to bridge the gap between rich and poor as well as villages and cities. Handholding of youth, women and middle class is being done and the same has been mentioned...I think this is a budget that touches every sector...I would like to especially thank the Finance Minister for the infrastructure development announced for Bihar, greenfield airport was mentioned, expansion of airport was announced, expansion of IIT Patna was announced...New tax slabs were announced with the idea that people are left with more money in their hands. Overall, this is a beautiful and strong budget."

Kejriwal said, "A large part of the country's treasury is spent on waiving off the loans of a few rich billionaires. I had demanded that it be announced in the budget that from now on, the loans of any billionaire will not be waived off. With the money saved from this,

1. Middle class home loans and vehicle loans should be waived off; farmers' loans should be waived off.

2. Income tax and GST tax rates should be halved.

I am sad this was not done."

On announcement of Makhana Board in Bihar, Bihar Minister Mangal Pandey said, "I want to thank Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman and Minister of Agriculture Shivraj Singh Chouhan on behalf of lakhs of farmers of Bihar who cultivate foxnuts... These farmers have been demanding the formation of a Makhana Board for a very long time, just like there is Tea Board and Rubber Board... We requested for the formation of this board when Shivraj Singh Chouhan came to Patna recently and today that dream of foxnut cultivating farmers has been fulfilled through the announcement by the Finance Minister during Union Budget 2025..."

JD(U) MP Sanjay Kumar Jha said, "The biggest announcement for Bihar is that it will have a greenfield airport. It is a huge announcement. A Makhana Board will be formed, 85-90% of Makhana is cultivated in Mithila area, Kosi area...There is global demand for Makhana now. Western Kosi irrigation system had been a long pending demand of the Mithila region. FM has made an announcement for this. Announcment for a food-processing institute has also been made. So, overall these announcements are very positive for Bihar...Taxation relief up to Rs 12 Lakhs is a major relief."

Devegowda said, "...She (Union Finance Minister) has taken several good points to give benefit to various sectors including the middle class, medical sector. I welcome this budget."

Sitharaman concludes her Budget speech in 1 hour 15 minutes.

Zero Income Tax till ₹12 Lakh Income under New Tax Regime

• Slabs and rates being changed across the board to benefit all tax-payers
• New structure to substantially reduce taxes of middle class and leave more money in their hands, boosting household consumption, savings and investment
• 'Nil tax’ slab up to ₹12 lakh (₹12.75 lakh for salaried tax payers with standard deduction of ₹75,000)

As per new slabs

• Revised Tax Slabs (FY 2025-26)
• 0-4 lakh rupees Nil
• 4-8 lakh rupees 5 per cent
• 8-12 lakh rupees 10 per cent
• 12-16 lakh rupees 15 per cent
• 16-20 lakh rupees 20 per cent
• 20- 24 lakh rupees 25 per cent
• Above 24 lakh rupees 30 per cent

Sitharaman said, "In the budget of July 2024, the delay of the payments of the TDS up to the due date of filing statements was decriminalised; I propose the same from the TCS provisions as well..."

Compliance burden for small charitable trusts & institutions to be reduced, by increasing their registration period from 5 years to 10 years. Taxpayers to be allowed to claim annual value of two self-occupied properties as nil without any condition.

'Limit for tax deduction for senior citizens to be doubled to Rs 1 lakh', says Nirmala Sitharaman in Budget speech

FM said, "....Inspired by the success, a modified UDAN scheme will be launched to enhance regional connectivity to 120 new destinations and carry 4 crore additional passengers in the next 10 years. The scheme will also support helipads and smaller airports in hilly, aspirational and northeast regional districts. Greenfield airports will be facilitated in Bihar to meet the future needs of the state. These will be in addition to the expansion of the capacity of Patna airport and Brownfield airport in Bihta. Financial support will be provided for Western Kosi Canal ERM project in Mithilanchal, benefitting a large number of farmers in the Mithilanchal region of Bihar..."

Revamped central KYC registry will be rolled out in 2025. Requirements and procedures for speedy approval for company mergers will be widened and process to be made simple: FM

"I propose to introduce the New Income Tax Bill next week," says FM Nirmala Sitharaman in Parliament

Finance Minister Nirmala Sitharaman says, "The fiscal deficit is estimated to be 4.4% of the GDP..." Net market borrowings estimated at Rs 11.54 lakh crore for next fiscal.

Mobile phones, Electric Car and TVs to cost less 

"Those suffering from Cancer, chronic or other severe diseases; I propose to add 36 life-saving drugs and medicines to the list of medicines fully exempted from basic customs duty."

Nirmala Sitharaman said, "The FDI limit for the Insurance Sector will be raised from 74 to 100 percent. This enhanced limit will be available for those companies which invest the entire premium in India. The current guardrails and conditionalities associated with foreign investment will be reviewed and simplified."

Thrust on investment in infrastructure continues with focus on PPP projects and asset monetization among others: FM

Finance Minister Nirmala Sitharaman said, "A digital public infrastructure - 'Bharat Trade Net' (BTN) for international trade will be setup as a unified platform for trade documentation and financing solutions. The BTN will be aligned with international practices..."

Fund of funds for startups to be set up with Rs 10,000 crore contribution from government, says Sitharaman

Maritime Development fund with corpus of Rs 25,000 crore to be set up for distributing support and promoting competition, announces FM

Finance Minister Nirmala Sitharaman said, "As a part of Nuclear Energy Mision for Research and Development, at least five indigenously developed small modular (nuclear) reactors will be operationalised by 2033..."

Ten thousand additional seats will be added to medical colleges next year, and 75,000 seats will be added in the next five years, FM Nirmala Sitharaman announced while presenting the Union Budget 2025.

Through the convergence of existing schemes, the program will cover 100 districts with low productivity, moderate crop intensity & below-average credit parameters to:

1. Enhance agricultural productivity
2. Adopt crop diversification & sustainable agri-practices
3. Augment post-harvest storage
4. Improve irrigation facilities
5. Facilitate long term & short-term credit
6. The program will likely help 1.7 crore farmers

Finance Minister Nirmala Sitharaman said, "The govt will setup an Urban Challenge Fund of Rs 1 lakh crore to implement the proposals to make cities as growth hubs.."

Focus Product Scheme for Footwear & Leather Sectors is expected to facilitate employment for 22 lakh persons, turnover of ₹4 lakh crore and exports of over ₹ 1.1 lakh crore.

Additional infrastructure in IITs to increase number of students; IIT Patna to be expanded, announces FM

Plant with annual capacity of 12.7 lakh metric tons to be set up at Namrup, Assam

Comprehensive programme for raising vegetables, fruits' production, and providing remunerative prices will be launched, Finance Minister Nirmala Sitharaman said while presenting the Union Budget 2025-26.

Govt to enhance limit for interest subvention scheme for Kisan Credit Card from Rs 3 lakh to Rs 5 lakh, says FM

Term loan of Rs 2 crore for women, first-time entrepreneurs from SC/ST, backward classes, says Nirmala Sitharam

India Post to be transformed into large public logistic organisation with 1.5 lakh rural post offices to become catalyst for rural economy: FM.

Government to bring enabling framework for sustaining harvest of fisheries sector in exclusive economic zones and high seas

Nirmala Sitharaman announces 5-year mission to promote cotton production.

MSMEs can now to get loan upto 10 Lakh, announces Nirmala Sithraman. 'With quality products, MSMEs are responsible for 45 per cent of our exports'

Samajwadi Party MPs did a walkout and then came back in the house in Loksabha

'Government to launch rural prosperity, resilience programme focussing on youth, women and farmers'

Nafed and NCCF will procure pulses in next four years, says Sitharaman

Makhana Board will be established in Bihar to improve production and processing of fox nut: FM Sitharaman.

Budget to initiate reforms in 6 domains -- taxation, urban development, mining, financial sector, power and regulatory reforms: FM

We see the next five years as unique opportunity to stimulate growth. Together we embark on journey to unlock our potential for greater prosperity: Finance Minister Nirmala Sitharaman.

This Bugdet continues efforts to accelerate growth and provide inclusive development, says Finance Minister Nirmala Sitharaman presenting Budget for FY26.

"Our economy is the fastest growing among all major economies. Our development track record for the past 10 years and structural reforms have drawn global attention. Confidence in India's capability and potential has only grown in this period. We see the next 5 years as a unique opportunity to realise sabka vikas, stimulating balanced growth of all regions."

Nirmala Sitharaman presents her 8th consecutive Budget amid ruckus

Nirmala Sitharaman to present Budget shortly

BJP MP Sanjay Jaiswal said, "Under the leadership of the Prime Minister, all the Budgets that have been presented so far have given new heights of development. I am confident that today too there will be a lot for poor, youth, women and industries." 

Samajwadi Party chief and the party's MP Akhilesh Yadav said, "...There is a more important thing than budget at the moment - people in Maha Kumbha are still looking and searching for their relatives. The CM has been there many times, the Union Home Minister has gone there, the Vice President is going today and the Prime Minister will also go there - in a Maha Kumbh where people die and the govt has failed to provide the numbers of deceased and those who are missing... Hindus have lost their lives - the govt must wake up - I said earlier as well to call the Army there. This has been the first time that saints have denied having Shahi (Amrit) Snan..."

Congress MP Manish Tewari said, "The budget is very simply an accounting statement - it states as to how much did the govt spend, how much did the government earn. Whether there is a surplus or there is a deficit. But unfortunately, over the years this has become a once-in-a-year podium for the finance minister to grandstand and to talk about - from motherhood to apple pie. Coupled with that, television channels have turned it into a spectacle, primarily because it has become an event to collect revenue and boost TRP. But, at the end of it, at every advanced economy, the budget is non-event because it is merely a statement of account and expenditure..."

Congress MP Hibi Eden said, "We hope that the tax policies and the issues faced by common man and the small-time traders, including the GST, something on that would be expected. More allocation would be there on MNREGA. We expect that education and health will be given more focus and our all-time demand is that the honorarium of members of the anganwadi - teachers and workers are revised and given a better space. These are our demands and I hope the Govt will consider that...The southern states are neglected. I hope Kerala will get a better share this time."

A combination of file images shows Union Finance Minister Nirmala Sitharaman with the ‘Union Budget’ in the years (L-R, top row) 2019, 2020, 2021, and 2022, and (L-R, bottom row) 2023, 2024 (Interim Budget), 2025, and Union Budget 2025-26.

Amit Shah reaches Parliament 

Modi Cabinet approves Nirmala Sitharaman's Budget for 2025-2026

Prime Minister Narendra Modi arrives at Parliament ahead of Nirmala Sitahraman's Budget presentation

Defence Minister Rajnath Singh arrives at the Parliament. Union Finance Minister Nirmala Sitharaman will present the Union Budget 2025 at the Parliament today. He says, "Budget will be presented. It will be for every section of society."

Union Finance Minister Nirmala Sitharaman arrives at the Parliament. She will present the Union Budget shortly.

Modi Cabinet to meet shortly to give its approval to Nirmala Sitharaman's Budget 2025

Finance Minister Nirmala Sitharaman leaves Rashtrapati Bhavan to reach Parliament.

President Murmu fed the Finance Minister 'Curd and Sugar' which is a symbol of wishes for good luck.

An artist from Amroha, Zuhaib Khan made an 8-foot-long portrait on the wall with coal themed on Union Budget 2025 to be tabled in the parliament today, by Union Finance Minister Nirmala Sitharaman.

Union Finance Minister Nirmala Sitharaman is wearing a saree as a tribute to Madhubani Art and the skill of Padma awardee Dulari Devi. Dulari Devi is a 2021 Padma Shri awardee. When FM visited Madhubani for a credit outreach activity at Mithila Art Institute, she met Dulari Devi and had a cordial exchange of thoughts on Madhubani art in Bihar. Dulari Devi had presented the saree and asked FM to wear it for the budget day.

Nirmala Sitharaman and MoS Finance Pankaj Chaudhary meet President Droupadi Murmu at Rashtrapati Bhavan.

Union Finance Minister Nirmala Sitharaman leaves from the Ministry of Finance for Rashtrapati Bhavan to meet President Droupadi Murmu.

Copies of UnionBudget 2025 are brought to parliament as Union Finance minister Nirmala Sitharaman will today table her 8th Union Budget, for the fiscal year 2025-26, in Lok Sabha

Nirmala Sitharam posses with her team ahead of Budget. She will present and read out the Union Budget 2025 at the Parliament through a tab, instead of the traditional 'bahi khata'.

The survey, tabled a day before the union budget, highlights that the country's economic fundamentals remain strong, supported by a stable external account, fiscal consolidation, and private consumption.

Suryaprakash, a local in Ayodhya said, "The youth are enthusiastic and hopeful regarding Budget. We hope that something positive will be thought for us. Budget plays several roles...Schemes should be introduced so that things are a little better in the time to come. There should be something for farmers too...Something positive should be thought for middle class too..."

Sand artist Sudarsan Pattnaik has created a sand sculpture on Puri beach depicting the Union Budget 2025, ahead of its presentation in the Parliament. Union Finance Minister Nirmala Sitharaman will present the Union Budget 2025 today. Speaking to media, Pattnaik said he created the sand art with four tonnes of sand that has "Welcome Union Budget 2025" written on it. "I have created a sand art welcoming the Union Budget 2025. This art is created by 4 tonnes of sand with the message of Welcome Union Budget 2025 written on it. The eyes of the country and the world are on the Union Budget 2025, which will be presented by Union Finance Minister Nirmala Sitharaman," he told media. 

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MoS Finance Pankaj Chaudhary arrives at the Ministry of Finance

The oil marketing companies have revised the prices of commercial LPG gas cylinders today (February 1). The 19kg commercial LPG gas cylinders rate has been reduced by Rs 7, effective Saturday. Read Story

Union Budget 2025 to be tabled in Lok Sabha, today, at Prayagraj Mahakumbh, Deepak said, "Being a salaried person, I expect that the govt will provide some relaxation in tax limit; I hope that the govt will alter the 5 lakh slab and will exceed that limit upto 7.5 lakhs."

As a school teacher, Sangeeta Singh says, "As a homemaker, I think the inflation rate should be curbed. Also, the govt should focus on areas such as travel expenses as it's getting higher..."

A student at Prayagraj Mahakumbh, Rahul says, "Government should bring something that provide job opportunities to youth and also, to smoothen the process of education loan."

People in Mumbai voice their expectations as Union Budget2025 is all set to be presented in Parliament today. 

This budget is also set against the backdrop of slower domestic consumption and activity, which is likely to be in focus in the announcements. Emphasis will be on employment and skilling with a focus on boosting incomes, support labour intensive sectors, draw in private sector players, and defend against a tougher geopolitical environment.

The Budget for the fiscal year starting April 1 is expected to contain measures to shore up weakening economic growth while being fiscally prudent. It is likely to focus on steps to boost consumption while sticking to the roadmap of narrowing the fiscal deficit.

A cut or tweak in income tax rates/slabs to ease the burden of middle class struggling with high prices and stagnant wage growth is widely expected in Finance Minister Nirmala Sitharaman's record setting eighth consecutive Budget. The Budget for the fiscal year starting April 1 is expected to contain measures to shore up weakening economic growth while being fiscally prudent. It is likely to focus on steps to boost consumption while sticking to the roadmap of narrowing the fiscal deficit.

The Union Budget 2025-26 is set to be presented on Saturday, anticipating to strike a balance between economic growth and fiscal prudence while addressing the expectations of taxpayers, businesses, and key industries.