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HomeTop NewsFinance Minister Nirmala Sitharaman Meets President Droupadi Murmu Ahead Of Budget Presentation

Finance Minister Nirmala Sitharaman Meets President Droupadi Murmu Ahead Of Budget Presentation

New Delhi [India]: Union Finance Minister Nirmala Sitharaman and Minister of State for Finance Pankaj Chaudhary met President Droupadi Murmu at Rashtrapati Bhavan on Saturday morning, ahead of the Union Budget presentation.

During the meeting, Sitharaman discussed key aspects of the Budget proposals with the President. Following this, she is set to attend a Cabinet meeting, where the Budget will be ratified before its official presentation in Parliament.

At 11 AM, Sitharaman will present her record 8th consecutive Union Budget in the Lok Sabha, outlining the government’s fiscal policies, revenue and expenditure plans, taxation reforms, and other key announcements.

Economic Survey Forecasts 6.3-6.8% Growth for FY26

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

It highlights the government’s focus on long-term industrial growth, with an emphasis on 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 growth in FY26 would be between 6.3% and 6.8%,” the survey stated.

Inflation, Forex Reserves, and Employment Trends

The survey predicts that food inflation will 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, challenges such as adverse weather conditions and rising international agricultural prices could pose risks.

India’s foreign exchange reserves remain solid, covering 90% of external debt and providing an import cover of over ten months. The reserves grew from $616.7 billion (January 2024) to $704.9 billion (September 2024) before moderating to $634.6 billion (January 3, 2025). The survey emphasizes that stable capital flows have significantly contributed to India’s external strength.

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

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