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HomeNationFinance Minister Nirmala Sitharaman Heads To Present Record 8th Budget

Finance Minister Nirmala Sitharaman Heads To Present Record 8th Budget

New Delhi [India]: Union Finance Minister Nirmala Sitharaman departed from North Block for Rashtrapati Bhavan on Saturday, carrying her signature ‘bahi-khata’—a tablet wrapped in a red cloth with a golden national emblem embossed on it.

Sitharaman is set to present her record 8th consecutive Union Budget today at 11 AM in the Lok Sabha. Her budget speech will outline the government’s fiscal policies, taxation reforms, revenue and expenditure plans, and other key announcements.

She was accompanied by Union Minister of State for Finance Pankaj Chaudhary, Chief Economic Advisor Dr. V. Anantha Nageswaran, and other senior officials.

Economic Survey Projects 6.3-6.8% Growth for FY26

The Economic Survey, tabled in Parliament on Friday, projected India’s economy to grow between 6.3% and 6.8% in the next financial year 2025-26. The report highlights strong economic fundamentals backed by a stable external account, fiscal consolidation, and resilient private consumption.

It emphasized the government’s focus on long-term industrial growth by strengthening research and development (R&D), micro, small, and medium enterprises (MSMEs), and capital goods. These measures aim to boost productivity, innovation, and global competitiveness.

“The fundamentals of the domestic economy remain robust, with a strong external account, calibrated fiscal consolidation, and stable private consumption. On balance of these considerations, we expect that the growth in FY26 would be between 6.3% and 6.8%,” the survey stated.

Inflation, Forex Reserves, and Employment Trends

The survey expects food inflation to ease in Q4 FY25, thanks to a seasonal decline in vegetable prices and the arrival of the Kharif harvest. A strong Rabi crop is also expected to help stabilize food prices in the first half of FY26. However, concerns remain over adverse weather conditions and rising international agricultural prices.

India’s foreign exchange reserves remain solid, covering 90% of external debt and providing an import cover of over ten months. The reserves rose from $616.7 billion (January 2024) to $704.9 billion (September 2024) before moderating to $634.6 billion (January 3, 2025). The survey highlighted capital flow stability as a key factor in supporting India’s external strength.

The report also noted significant growth in formal employment, with net Employees’ Provident Fund Organisation (EPFO) subscriptions more than doubling—from 61 lakh in FY19 to 131 lakh in FY24.

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