Chaos broke out in Parliament as Opposition protested when Nirmala Sitharaman began budget presentation.As Union Finance Minister readied to present the Union Budget, she was met with sloganeering from the Opposition MPs.The Union Budget 2025 is expected to focus on boosting India’s manufacturing sector under the ‘Viksit Bharat’ goal.
The Budget is also expected to focus on easing the middle-class tax burden, boosting consumption, and maintaining fiscal prudence. There is a strong push for investment in manufacturing, infrastructure, and job creation. Custom duty reforms, skill development, and agricultural value chain enhancements are also likely.
According to sources cited across news reports, the government is considering hiking income tax slabs and enhancing the standard deduction to address the concerns of middle-class taxpayers amid rising inflation. The speculation of tax reliefs grew with PM Modi and President Droupadi Murmu referring to middle class multiple times in their addresses in Parliament on Friday. Hours before the presentation of Union Budget 2025, stock market opened flat on Saturday. Stock market is open on Saturday in a special session for the Union Budget.