On Saturday, Union Finance Minister Nirmala Sitharaman arrived at the North Block, where the Ministry of Finance is located, to present the Union Budget for 2025. This will be her eighth budget presentation at 11 am in the Lok Sabha.
In her speech, Sitharaman will explain the government’s plans for money management, how they will collect and spend money, changes to taxes, and important announcements.
Just the day before, the Economic Survey was presented in Parliament. It predicts that India’s economy will grow between 6.3% and 6.8% in the upcoming year, 2025-26. The survey highlighted that India’s economy is strong, thanks to stable finances, responsible spending, and increased buying by people.
It says the government will work to make industries grow by focusing on research, small businesses, and important tools for production. These efforts aim to improve productivity, new ideas, and competitiveness with other countries.
The survey also forecasts that food prices will go down in the last quarter of the current financial year because vegetables will be cheaper and new crops will be harvested.
India’s foreign exchange reserves, which help with imports and paying debts, are still strong. They went up from $616.7 billion in January 2024 to $704.9 billion by September 2024, before settling at $634.6 billion on January 3, 2025. This stability in money flow has kept India’s economy solid.
Also, the survey noted there is significant growth in secure jobs. Subscriptions to the Employees’ Provident Fund Organisation (EPFO) have more than doubled, going from 6.1 million in FY19 to 13.1 million in FY24.
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