Prime Minister Narendra Modi is currently presiding over a crucial meeting with prominent economists and sectoral experts. The gathering aims to discuss key economic issues and strategies to address the country’s challenges in various sectors. Union Finance Minister Nirmala Sitharaman is scheduled to present the Budget for 2025-26 in the Lok Sabha on February 1, 2025. Sitharaman, Niti Aayog Vice Chairman Suman Bery, Niti Aayog CEO BVR Subrahmanyam, Chief Economic Advisor Anantha Nageswaran and eminent economists, including Surjit Bhalla, DK Joshi attended the meeting. PM Modi chairs such meetings ahead of Budget. A similar meeting was held in July also before the Union Finance Minister announced the Budget for 2024-25 in the Lok Sabha on July 23.
Budget 2025 date
Union Finance Minister Nirmala Sitharaman is set to present the 2025-26 Budget in the Lok Sabha on February 1, 2025. This would be the second full budget of PM Modi's third tenure, and the eighth straight Budget to be presented by Sitharaman.
Stock market to remain open on Budget day
Stock markets will remain open for trading on February 1, Saturday, when Finance Minister Nirmala Sitharaman presents the Union Budget, bourses BSE and NSE said on Monday. Stock markets are generally closed on Saturdays and Sundays, except for special circumstances. Trading will be conducted during normal hours from 9:15 am to 3:30 pm.
Markets were open on February 1, 2020 and February 28, 2015, which were both on Saturdays, when the Union Budgets were presented.
Government to impose 'sin tax'?
Ministers on GST rate rationalisation had previously suggested raising the tax rate on sin products like aerated beverages, cigarettes, tobacco, and similar items from 28% to 35%.
Traditionally, governments implement a "sin tax" on products known to have detrimental effects on public health, such as alcohol and tobacco. This tax is imposed at higher rates with the dual purpose of discouraging consumption and generating revenue to support welfare programs.
