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Live Updates | Budget Political Reactions: Rahul Fires 'Band-Aid For Bullet Wounds', 'Bankrupt Of Ideas' Jibe
With Prime Minister Narendra Modi and President Droupadi Murmu hailing the middle-class in their speeches, the taxpayers must be looking at the budget keenly.
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Budget 2025 Reactions Live: Finance Minister Nirmala Sitharaman presented her 8th consecutive budget on Saturday. The budget, as expected, was in lines with the economic survey and the hint dropped by Prime Minister Narendra Modi. Finance Minister Nirmala Sitharaman announced no tax up to Rs 12 lakh income. She also announced new tax slabs. The FM also announced several measures for farmers.
India's economy is projected to grow between 6.3 per cent and 6.8 per cent in the next financial year 2025-26, said Economic Survey 2024-25, tabled in Parliament on Friday.
Watch Budget Live With Zee News
The survey, tabled a day before the union budget, highlights that the country's economic fundamentals remain strong, supported by a stable external account, fiscal consolidation, and private consumption. It noted that the government plans to strengthen long-term industrial growth by focusing on research and development (R&D), micro, small, and medium enterprises (MSMEs), and capital goods. These measures aim to enhance productivity, innovation, and global competitiveness.
With Prime Minister Narendra Modi and President Droupadi Murmu hailing the middle-class in their speeches, the taxpayers were looking at the budget keenly and their expectations have been fulfilled. Stay tuned for LIVE updates:
Budget Reactions Live Updates: TMC Opposes FDI In Insurance
The Trinamool Congress has accused the Union Finance Minister Nirmala Sitharaman of depriving West Bengal in her budget proposals for the Financial Year 2025-26 that were presented on the floor of the Parliament on Saturday. "When West Bengal had sent 18 BJP Lok Sabha members to the Parliament, even then the state was deprived. West Bengal has been totally deprived this time as well. There is nothing in the Budget proposals for the state government," said Trinamool Congress's General Secretary and the party Lok Sabha member Abhishek Banerjee.
Budget Live Updates: Chidambaram Slams Government
Congress on Saturday slammed the Union Budget 2025-26, stating that Finance Minister Nirmala Sitharaman is walking on a worn-out path and she and Prime Minister Narendra Modi have not followed the advice of Chief Economic Advisor on the need to deregulate and that the government's "stranglehold" on the activities of the people is getting tighter. Addressing a press conference, former Finance Minister P Chidambaram said the economy will trudge along on the old path and deliver no more than the usual 6 or 6.5 per cent growth in 2025-26.
Budget Reaction Live Updates: Congress MP Gaddam Says No Specific Announcement For Telangana
Congress MP Vamsi Gaddam said, "From a country point of view, there was no discussion on how the Finance Minister wants to reduce the fiscal deficit of our country and increase revenues and jobs... I demand that the Finance Minister announce some sort of PLI (Production Linked Incentive) scheme tying up with the number of jobs they are creating in the manufacturing industry... No specific announcements were made for Telangana in terms of infrastructure development and debt restructuring... I would demand that the Dalits of the country also get some special tax exemption..."
Budget 2025 Reaction Live Updates: Congress Questions Budget Over Job Creation
Congress MP Randeep Singh Surjewala said, "...I would like to ask some questions on behalf of the countrymen. Does the budget mention anything about reducing the price of petrol, diesel and cooking gas?.. Does the budget mention anything about generating new jobs and about 20 lakh vacant government posts?...Has any measure or special provision been made in this budget to reduce inflation?..."
Budget 2025 Reaction Live: Budget Spells Out Needs For 'Industry 4.0', Paves Way For AI Research, Says Expert
"When India is preparinga to develop its own foundational AI model, the Budget announcement of setting up of a Centre of Excellence in AI for education with an outlay of Rs 500 crore will deepen the scope of AI - enabled education and research right from the University level and produce the much - required AI skilled talent within the country. As the Budget clearly spells out the needs for 'Industry 4.0' and 'Make in India, Make for the World' ambition, industry-oriented curriculum design training, skill - setting, certification and assessment will gain prominence," said Prof Tarundeep Singh Anand, Founder and Chancellor, Universal AI University.
Budget Political Rections Live| 'People's Budget': Jitendra Singh
On union budget 2025, Union Minister Jitendra Singh said, "The Prime Minister called it a 'people's budget' that benefits every section of society and reflects PM Modi's futuristic vision... The budget is bold and courageous, especially in its nuclear energy initiatives, which break past taboos, similar to PM Modi's previous reforms in the space sector... The nuclear energy plan will boost the economy, enhance clean energy usage and strengthen India's global standing by setting a 2047 target of 100 GW nuclear power generation - showing that Indian is now a leader, not a follower..."
Budget Live: Rahul Gandhi Slams Modi Govt Over Budget
"A band-aid for bullet wounds! Amid global uncertainty, solving our economic crisis demanded a paradigm shift. But this government is bankrupt of ideas," said Leader of Opposition Rahul Gandhi.
Budget Reactions Live Update| Akhilesh Yadav Criticises BJP
On Union Budget 2025, Samajwadi Party chief Akhilesh Yadav said "For whom has this budget come? Your (Govt) cities and roads do not have the capacity to handle so many people (Mahakumbh devotees)... How is your infrastructure in cities? You were building Smart India and smart cities... What arrangements are you (BJP) providing?..."
#WATCH | Delhi: On Union Budget 2025, Samajwadi Party chief Akhilesh Yadav says "For whom has this budget come? Your (Govt) cities and roads do not have the capacity to handle so many people (Mahakumbh devotees)... How is your infrastructure in cities? You were building Smart… pic.twitter.com/WZ5ZNXMuEq
— ANI (@ANI) February 1, 2025
Budget Reactions Live Update| 'All-Inclusive And Development-Promoting': JP Nadda
On the Union Budget 2025, Union Minister and BJP National President JP Nadda said, "Today, the budget presented by Finance Minister Nirmala Sitharaman is a very balanced, all-inclusive and development-promoting budget that accelerates the resolution of a developed India...I heartily congratulate PM Narendra Modi and Nirmala Sitaraman ji for such an all-inclusive budget dedicated to accelerating the development of every sector. While providing great relief to the middle-class families of the country, the tax exemption has been increased to Rs 12 lakh. In this budget, special attention has been given to the skills of the youth, investment in agriculture and creation of employment options in rural areas..."
Budget Reactions Live Update| 'GST Has Become Complex', MP Jairam Ramesh
On the Union Budget 2025, Congress MP Jairam Ramesh said, " Vocals have got relief but what do the locals have got? That is the question. Last 10 years, real wage rates have stagnated. Mass consumption has not increased, rate of private investment has not increased, GST has become complex, complicated and become a burden...the real issues of the economy have been ignored...real issues of inequality, price rice...lack of private investment, 'tax-terrorism' ...those are the real issues of the economy..."
Budget Reactions Live Update| 'Its Useless': TMC MP
On Union Budget 2025, TMC MP Kirti Azad said, "(Its) useless. There's nothing (in the budget)... There are so many taxes that it seems that these taxes eat up 5 months of your yearly income... If any common man has benefited (from the budget) then please tell."
#WATCH | Delhi | On #UnionBudget2025, TMC MP Kirti Azad says, "(Its) useless. There's nothing (in the budget)... There are so many taxes that it seems that these taxes eat up 5 months of your yearly income... If any common man has benefited (from the budget) then please tell." pic.twitter.com/m8hiWw161c
— ANI (@ANI) February 1, 2025
Budget Reactions Live: Everybody Is Happy About Budget, Says BJP MP
BJP MP Aparajita Sarangi said, "This is a holistic and forward-looking budget... Everybody is happy about the budget... The budget has been designed keeping in view- the target of making India a 'Viksit Bharat' by 2047... I don't think the critics will find any problem with this budget... Lots of things have been done for the middle class, like the ease of doing business..."
Budget 2025 Live: Shivraj Singh Chouhan Says Budget To Helf Cotton Farmers
Union Minister Shivraj Singh Chouhan said, "Our farmers produce many things, one of them is cotton. The Finance Minister has announced to start of a Cotton Productivity Mission, intending to increase not only the productivity of our cotton but also its quality. We should produce high-quality cotton and for this, efforts will be made to improve fibre processing and infrastructure and to promote sustainable natural fibre. Right now our demand is for 326 lakh bales of cotton and the production of only 300 lakh bales of cotton is being done. But this will increase the productivity of cotton, quality will also increase, and farmers will get more benefits...."
Budget Reactions Live Update: Outstanding Budget, Hardeep Singh Puri
On the Union Budget 2025, Union Minister Hardeep Singh Puri said, "In every respect, it's an outstanding budget. I want to compliment the Finance Minister. It's her eighth budget, and this is a budget which caters to all sections of the economy. But more than that, it provides a kind of relief to the salaried middle class, which is very welcome and was anticipated partly..."
#WATCH | On the Union Budget 2025, Union Minister Hardeep Singh Puri says "In every respect, it's an outstanding budget. I want to compliment the Finance Minister. It's her eighth budget, and this is a budget which caters to all sections of the economy. But more than that, it… pic.twitter.com/RCvsZzfstM
— ANI (@ANI) February 1, 2025
Union Budget 2025 Live: Budget For All Sections For Society, Says Rajasthan CM
Rajasthan CM Bhajanlal Sharma said, "... In the budget of 2025-2026, proper provisions have been made for all sections and all sectors of the economy. The budget has presented a roadmap for balanced development by laying a special focus on increasing the growth rate and inclusive development… This budget is historic in all respects. It will prove to be a milestone in the direction of making India a developed economy by the year 2047. Under PM Narendra Modi, special attention has been given to women, farmers, youth, and the poor in this budget… The announcement made to promote startups and industries will provide new employment opportunities to the youth…"
Live Updates: Tejashwi Yadav Criticizes Budget, Says Unfair To Bihar
RJD leader Tejashwi Yadav said, "... They did not talk about (giving Bihar) a special package. I am not sure if they will even give Bihar the status of a special state... Today's budget was unfair to Bihar. Whatever was given in the last budget has just been repeated this time... Train fares are getting expensive. No relief has been given in that..."
#WATCH | Vaishali, Bihar | On #UnionBudget2025, RJD leader Tejashwi Yadav says, "... They did not talk about (giving Bihar) a special package. I am not sure if they will even give Bihar the status of a special state... Today's budget was unfair to Bihar. Whatever was given in the… pic.twitter.com/yAZi3pQY01
— ANI (@ANI) February 1, 2025
Budget Live Updates: Middle Class, Salaried Earners Living In Delhi To Benefit, Says Piyush Goyal
Union Minister Piyush Goyal says, "Government employees live in large numbers in Delhi. There are many units of business, small and medium businesses, high-end businesses and the MSME sector in Delhi, so the people of Delhi will especially benefit from this. The middle class and salaried earners live in such large numbers in Delhi. There are people from the army, central government employees, and state government employees. Everyone including small traders will benefit. People from the MSME sector will benefit. I think every citizen of Delhi will celebrate today and I feel that today every person of Delhi has got a very big gift from respected Prime Minister Modi...."
#WATCH | On Union Budget 2025, Union Minister Piyush Goyal says, "Government employees live in large numbers in Delhi. There are many units of business, small and medium businesses, high-end businesses and the MSME sector in Delhi, so the people of Delhi will especially benefit… pic.twitter.com/FX6fF5hsf9
— ANI (@ANI) February 1, 2025
Budget Live Updates: Tax Reforms An Opportunity For People Who Joined Workforce Recently, Says PM Modi
On Union Budget 2025, Prime Minister Narendra Modi says "In this budget, income up to Rs 12 lakh per annum has been made tax-free. For all income groups, taxes have been reduced. It will hugely benefit our middle class. It will be an opportunity for the people who have recently joined the workforce..."
Budget Reactions Live Update: Social Workers Hail Positive Annoucement
The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman, is a significant step toward empowering the middle class and driving inclusive growth. Some standout announcements is the exemption of income tax for individuals earning up to ₹12 lakh annually and the increase in the TDS exemption limit on rental income from ₹2.4 lakh to ₹6 lakh. The budget also prioritizes healthcare and education, key areas for societal development. The establishment of daycare cancer centers in all district hospitals will improve access to quality cancer care. Infrastructure and urban development are also in focus, with the ₹1 lakh crore Urban Challenge Fund aimed at transforming cities into growth hubs. This initiative will drive creative redevelopment and enhance water and sanitation infrastructure, improving the quality of life in urban areas. Overall, Budget 2025 addresses the needs of the middle class, simplifies tax compliance, and invests in critical sectors. It is a budget that not only tackles immediate economic challenges but also lays the groundwork for India’s long-term prosperity," said Arhan Bagati, a social worker and Kashmiri Pandit.
NEXT FIVE YEARS PRESENT A UNIQUE OPPORTUNITY TO REALIZE ‘SABKA VIKAS’; UNION BUDGET 2025-26
Focus on Garib, Youth, Annadata, and Nari in Union Budget 2025-26
Development measures spanning ten broad areas.
Details: https://t.co/aER6AJ5Ncm #UnionBudget2025… pic.twitter.com/aZDouaRAq6
— PIB India (@PIB_India) February 1, 2025
Budget Live Updates: Budget Not Meant To Fill Govt Treasury, Says Modi
On Union Budget 2025, Prime Minister Narendra Modi said, "Usually the focus of the budget is on how the government treasury will be filled, but this budget is exactly the opposite of that. How will this budget fill the pockets of the citizens of the country, how will the savings of the citizens of the country increase and how will the citizens of the country become partners in development... this budget lays a very strong foundation for this. In terms of reforms, many important steps have been taken in this budget. Encouraging the private sector in Nuclear Energy is historic. It will ensure a big contribution of Civil Nuclear Energy in the development of the country."
Live Updates: PM Modi Says Budget To Fulfil Dreams Of Every Indian
This Budget fulfils dreams of every Indian, reflects aspirations of 140 cr Indians. It is a people's Budget...Budgets often focus on filling treasury, this Budget aims to fill people's pockets and increase savings: PM Modi.
Live Updates: PM Modi Calls Budget A Force Multiplier
On Union Budget 2025, Prime Minister Narendra Modi says "This budget is a force multiplier. This budget will increase savings, investment, consumption and growth rapidly. I congratulate Finance Minister Nirmala Sitharaman and her entire team for this Janta Janardan's, People's budget."
Budget Live Updates: Lot Of Jobs To Be Created, Says Piyush Goyal
On Union Budget 2025, Union Minister Piyush Goyal said, "A lot of job opportunities will be created...In every sector, there will be job opportunities...Estimation will come, and each sector will adopt. In the leather and footwear sector, 22 lakh more jobs can be created directly and indirectly with the impactful ideas that she has proposed for the leather and footwear sector. In the cotton textiles and garments industry, jobs will be created. The skill development thrust and the 5 PM schemes that were announced last year will also make our young men and women more employable, and fit for employment, give them skill development and vocational training, and help them to increase their incomes. And on these increased incomes, there will be no income tax, up to 12 lakhs. So it's a very holistic budget that will impact the common man, that will impact the middle class, and that will mean more disposable income, giving impetus to demand in the market...This is a budget for preparing the foundation for Viksit Bharat 2047..."
Budget Reaction Live Updates: Check What AAP MP Said
AAP MP Sanjay Singh said, "What benefit are small traders getting from this, you have not given any tax relief on their income of Rs 12 lakh. Aam Aadmi Party's national convenor Arvind Kejriwal had demanded that if you decide that you will not waive the loans of industrialists, you will not waive the loans of your capitalist friends and you recover the loan of Rs 16 lakh crore that has been waived so far, then the GST rates and income tax rates in the country can be halved. The middle class of this country, the common man of this country can get a huge relief. But this was not done..."
Budget Live Updates: Nitin Gadkari Hails Allocations To Infra Sector
Union Minister Nitin Gadkari said, "Finance Minister Nirmala Sitharaman has presented a historic budget of the country. This budget has a speciality to accelerate our budget. Just like always, this time also, she has given the infrastructure sector priority - the budget for the sector has increased and it will help infra and roads. The agriculture sector has also been given the priority. Income tax reform will be a massive benefit to the people of the middle class... This budget has encouraged the public-private partnership..."
Budget Reaction Live Updates: Kejriwal Rues No Relief For Middle-Class
Arvind Kejriwal: A large part of the country's treasury is spent on waiving off the loans of a few rich billionaires. I had demanded that it be announced in the budget that from now on, the loans of any billionaire will not be waived off. With the money saved from this, 1. Middle class home loans and vehicle loans should be waived off; farmers' loans should be waived off. 2. Income tax and GST tax rates should be halved. I am sad this was not done.
Budget Live: Congress Rues No MSP Announcement
Congress MP Kumari Selja said, "Farmers didn't get MSP. They talked about nuclear but our nuclear power plant in Haryana's Gorakhpur (Gorakhpur Haryana Anu Vidyut Pariyojana) has been there for a long and both are happening there. Many such issues are there - like MGNREGA - but nothing was announced in this regard. All that was announced was mainly because of elections in Bihar and Delhi."
Budget Reactions Live: Congress MP Terms Budget As Weakest In 10 Years
Congress MP Gaurav Gogoi said, "This is the weakest budget in the last 10 years..." He further says, "We want a discussion on the Kumbh stampede in Parliament. INDIA Alliance walked out and we have not yet received any information on whether the discussion will take place or not. We want a discussion so that the truth can come out."
Budget 2025 Live Reaction: Assam CM Hails Urea Plant Announcement
Assam CM Himanta Biswa Sarma hailed the announcement by FM Nirmala Sitharaman calling it a historic day for Assam. "What a historic day for Assam ! Union Budget 2025 has announced a 12.7 lakh MT urea plant in Namrup, a long standing demand of the people of Assam. After the semiconductor plant in Jagiroad , this urea facility will be a game changer for the entire North East. It will not only help us achieve self sufficiency in fertilizer availability but also better channelise our natural gas resources. On behalf of the people of Assam my heartfelt gratitude to Hon’ble Prime Minister Narendra Modi Ji and Hon’ble Finance Minister Nirmala Sitharaman.
What a historic day for Assam ! #UnionBudget2025 has announced a 12.7 lakh MT urea plant in Namrup, a long standing demand of the people of Assam.
After the semiconductor plant in Jagiroad , this urea facility will be a game changer for the entire North East.
It will not…
— Himanta Biswa Sarma (@himantabiswa) February 1, 2025
Budget Reaction Live Updates: JDU Hails Announcements For BIHAR
JD (U) working president Sanjay Jha hailed the announcement of setting up of a Makhana Board in Bihar, saying it will unlock new opportunities for the farmers and entrepreneurs.Stating that it will turn out to be a gamechanger for the region's agricultural economy, Jha said in a post on X, "The initiative will enhance production, processing, value addition, and marketing, driving economic growth in Mithila and Bihar."
Budget Reaction Live: Congress Says Economy Derailed
Taking a swipe at the Centre over the Union Budget, the Congress on Saturday said while Finance Minister Nirmala Sitharaman spoke of four engines of development, the Budget was "completely derailed".In her Saturday budget speech, Sitharaman said agriculture, MSME, investments and exports are the four power engines of development.Congress general secretary in-charge communications Jairam Ramesh said, "The FM spoke of 4 engines: Agriculture, MSMEs, Investment, and Exports. So many engines that the Budget has been completely derailed." In another post, he said, "The BJP led by Arun Jaitley successfully sabotaged the Civil Liability for Nuclear Damage Act, 2010 that international companies wanted when Dr. Manmohan Singh was PM. Now to appease Mr. Trump, the FM announces that the Act will be amended."
Budget Live Updates: Major Tax Reforms Announced By FM
FM Sitharaman: "No Income Tax payable up to an income of Rs 12 Lakh. Slabs and rates being changed across the board to benefit all tax-payers," announces FM Nirmala Sitharaman. She further says, "...I propose to revise tax rate structures as follows: 0 to Rs 4 Lakhs - nil, Rs 4 Lakhs to Rs 8 Lakhs - 5%, Rs 8 Lakhs to Rs 12 Lakhs - 10%, Rs 12 Lakhs to Rs 16 Lakhs - 15%, Rs 16 Lakhs to Rs 20 Lakhs - 20%, Rs 20 Lakhs to Rs 24 Lakhs - 25% and above Rs 24 Lakhs - 30%. To taxpayers up to Rs 12 Lakhs of normal income other than special rate income such as capital gains, tax rebate is being provided in addition to the benefit due to slab rate reduction in such a manner that there is no tax payable by them..."
Budget Live: Healthcare Measures
Finance Minister Nirmala Sitharaman said, "Those suffering from Cancer, chronic or other severe diseases; I propose to add 36 life-saving drugs and medicines to the list of medicines fully exempted from basic customs duty."
Budget Live: FM's BIG Announcement For Green Energy
Finance Minister Nirmala Sitharaman said, "Nuclear Energy Mission for Viksit Bharat. Development of at least 100 gW of Nuclear energy by 2047 is essential for our energy transition. For active partnerships with the private sectors towards this goal, amendments to the Atomic Energy Act and Civil Liability for the Nuclear Damage Act will be taken out.."
Budget Live: Opposition Walks Out Demanding Debate Over MahaKumbh Stampede
MPs from the opposition parties walked out of Lok Sabha as Finance Minister Nirmala Sitharaman reads her budgetary speech. She began her budgetary speech amid protests by Samajwadi Party MPs including party chief Akhilesh Yadav. The Opposition MPs were demanding a discussion on the Maha Kumbh stampede.
Budget Live 2025: What Is PM Dhan Dhaanya Krishi Yojana?
Union Finance Minister Nirmala Sitharaman announced launch of Dhan Dhaanya Krishi Yojana. "PM Dhan Dhaanya Krishi Yojana - developing agri districts program...Our government will undertake a PM Dhan Dhaanya Krishi Yojana in partnership with states. Through the convergence of existing schemes and specialised measures, the program will cover 100 districts with low productivity, moderate crop intensity and below-average credit parameters. It aims to enhance cultural productivity..." said FM Sitharaman.
Budget Live: Watch FM Sitharaman Presenting Budget 2025
Finance Minister @nsitharaman Ji is presenting the Union Budget in Parliament. https://t.co/3CYGZzC7iO
— Narendra Modi (@narendramodi) February 1, 2025
Budget Reactions Live Updates: More Important Things Than Budget Need Attention, Says Akhilesh
Samajwadi Party chief and the party's MP Akhilesh Yadav said, "...There is a more important thing than budget at the moment - people in Maha Kumbh are still looking and searching for their relatives. The CM has been there many times, the Union Home Minister has gone there, the Vice President is going today and the Prime Minister will also go there - in a Maha Kumbh where many people died and the govt has failed to provide the numbers of deceased and those who are missing... Hindus have lost their lives - the govt must wake up - I said earlier as well to call the Army there. This has been the first time that saints have denied having Shahi (Amrit) Snan..."
Budget Reactions Live: JDU MP Praises FM For Wearing Madhubani Painting Saree
JD(U) MP Sanjay Kumar Jha says, "On behalf of the entire Mithila and Bihar, I extend my gratitude that the Finance Minister Nirmala Sitharaman is wearing a saree with Madhubani painting on it as she presents the #UnionBudget2025 today. We were there with her when the 2021 Padma Shri Dulari Devi gifted her the saree. She had requested FM to wear it when she presents the Budget. I thank her that she wore the saree today and gave a message...She has honoured Mithila area and Bihar with this."
#UnionBudget2025 | Union Finance Minister Nirmala Sitharaman is wearing a saree as a tribute to Madhubani Art and the skill of Padma awardee Dulari Devi.
Dulari Devi is a 2021 Padma Shri awardee. When FM visited Madhubani for a credit outreach activity at Mithila Art Institute,… pic.twitter.com/Q9ur6abaNt
— ANI (@ANI) February 1, 2025
Budget Reactions Live Updates: Robert Vadra Says No Expectation From Government
Robert Vadra said that he has no hopes from the government. "We have very little expectations from the government. I would like Nirmala Sitharaman to be among the people, listen to people and the biggest issue has been inflation for a long time and people are in so much trouble, there is unemployment... Kumbh is going on but the fares of trains, flights have also increased. The Union Budget should be in the interest of the people. I think it is not about BJP or Congress or any other party, everyone should be united and the budget should be in the interest of the country and the people," he said.
Budget Expectation Live Updates: Congress’ K C Venugopal Flags NRI Concerns
Congress general secretary K C Venugopal on Friday wrote to Finance Minister Nirmala Sitharaman, raising concerns over the recent changes in the taxation of capital gains on real estate and their impact on Non-Resident Indians (NRIs).
Venugopal urged the minister to extend the same tax benefits to NRIs in the upcoming Budget as those provided to resident taxpayers.
“There is a pressing concern among the Non-Resident Indian (NRI) community regarding the recent changes in the taxation of capital gains on real estate as introduced in the Finance Act, 2024,” Venugopal stated in his letter.
He acknowledged that the provision allowing resident taxpayers to opt for either a 20 per cent tax with indexation or a 12.5 per cent tax without indexation for properties acquired before July 23, 2024, was a positive move. However, he pointed out that NRIs had been excluded from this option.
"However, it has been observed that this option has not been extended to NRIs, thereby denying them the benefit of indexation, which is crucial in accounting for inflationary effects on long-term real estate investments," Venugopal wrote.
The Congress leader called on Sitharaman to address the issue in the upcoming Budget, ensuring parity for NRIs in taxation policies related to real estate capital gains.
Budget Expectation Live Updates: FM Sitharaman Leaves North Block
Union Finance Minister Nirmala Sitharaman left from North Block on Saturday morning for Rashtrapati Bhavan, carrying her signature ‘bahi-khata’—a tablet wrapped in red cloth with a golden national emblem. She is set to present her record eighth consecutive Union Budget at 11 AM in the Lok Sabha.
The budget speech will outline key fiscal policies, revenue and expenditure plans, taxation reforms, and other major announcements shaping India's economic roadmap. Sitharaman was accompanied by Minister of State for Finance Pankaj Chaudhary, Chief Economic Advisor Dr. V. Anantha Nageswaran, and other senior officials.
Meanwhile, the Economic Survey, tabled in Parliament on Friday, projected India's GDP growth between 6.3% and 6.8% for the financial year 2025-26, signaling a moderating but steady economic trajectory.
Budget Expectation Live Updates: CM Siddaramaiah Calls For 'Just And Proportional' Resource Distribution
Karnataka Chief Minister Siddaramaiah urged the Centre to recognise the state's contribution and ensure 'just and proportional' resource distribution. "Instead of treating states merely as revenue-generating units, the Centre must respond to their financial challenges with fairness and empathy. When it comes to resource allocation, including tax devolution, the Centre must follow scientific and equitable standards," he said in a statement.
Budget Expectation Live Updates: Rahul Gandhi Says 'Dalits, Tribals' Ignored
Leader of the Opposition in Lok Sabha, Rahul Gandhi, criticized the budget-making process, alleging a lack of representation for Dalits, tribals, backward classes, and minorities. He pointed out that when the finance minister presents the Budget, no one from these communities will be in the official photo. "Tomorrow, 90 officers will prepare the Budget. Out of them, only three are from the OBC category," he said. Gandhi claimed that despite OBCs making up 50% of the population, they will have little say in budget decisions. "If ₹100 is allocated, these officers will decide only ₹5," he added, as quoted by ANI.
Budget 2025 Live: Inflations Remains A Concern
A Mumbai resident said, "...Inflation should be brought under control. So that a common man is also able to sustain himself and the lower class further develops...As far as tax slabs are concerned, it would be good if those in the Rs 10-15 Lakhs category are given some relaxation."
Budget Expectation Live Updates: BJD Demands People Friendly Budget
BJD leader Dr Amar Patnaik said, "The Budget this time is getting prepared under different circumstances, compared to the previous year. I think the economy is slowing down... The global geopolitical situation has resulted in several economic stresses for countries like India and they will probably persist for some time. Protectionist policies may also keep on increasing which means exports will go down, imports will increase and therefore there will be impact on GDP. Under these circumstances, the FM would be having a tough time in giving a Budget which is growth-oriented and at the same time, the 3 critical issues which are really plaguing our citizens - price rise, unemployment, consumption expenditure are coming down. So these needs will be addressed in the Budget by appropriate policy measures and allocations...So, the way forward to attract pvt investment..." (31.01.2025)
Budget 2025 Expectation Live: People Demand Relief From Inflation
A school teacher, Sangeeta Singh said that the government should control inflation. "As a homemaker, I think the inflation rate should be curbed. Also, the govt should focus on areas such as travel expenses as it's getting higher..." she said.
#WATCH | Delhi | #UnionBudget2025 to be tabled in Lok Sabha, today, a school teacher, Sangeeta Singh says, "As a homemaker, I think the inflation rate should be curbed. Also, the govt should focus on areas such as travel expenses as it's getting higher..." pic.twitter.com/fFiKpMwbg9
— ANI (@ANI) February 1, 2025
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