The Lok Sabha was adjourned today after the Union Budget was presented by Finance Minister Nirmala Sitharaman. The House will meet again on 3rd February at 11 am.
Before the adjournment FM Sitharaman introduced The Finance Bill, 2025 in the Lok Sabha. While presenting the Budget 2025-26 she laid out the roadmap for India’s growth, focusing on agriculture, micro, small and medium enterprises (MSMEs), investment and exports.
She said that strategic reforms in these sectors will be the catalyst for jobs, self reliance and global competitiveness. She said the budget is to fuel growth and take India to Viksit Bharat (Developed India).
The Finance Minister said the middle class is the strength of the economy and announced no income tax up to Rs 12 lakhs.
"Since they (Middle class) are the strength of the economy, we have reduced the tax burden on them periodically. I am happy to announce that there will be no income tax up to Rs 12 lakhs," she said.
She also proposed to set up a Makhana Board in Bihar. Makhana or foxnuts is a nutritious food and is widely produced and consumed in Bihar.
Under One District One Product scheme Makhana producers have benefitted a lot. Makhana Research Centre has been declared as national institution and Makhana has got GI tag.
Sitharaman emphasized on unlocking the potential of India’s marine sector and said the government will bring a framework for sustainable fishing with special focus on Andaman and Lakshadweep zones.
The Finance Minister said her government will give ID cards to gig workers. Gig workers will also get access to healthcare through a social security scheme.
She said her government will invest in street vendors and online and urban workers. Gig workers of online platforms will be given ID cards and registration on e-Shram portal.
She said the government sees the next five years as a once in a lifetime opportunity to take development to all (Sabka Vikas) to fuel growth of all regions.
The Finance Minister said India’s development story over the last 10 years and the structural reforms have got global attention.
Major announcements for Bihar, FM Sitharaman said Greenfield airports will be set up in Bihar besides expansion of Patna Airport and a brownfield airport in Bihta.
While presenting the Budget FM Sitharaman said, "Greenfield airports will be set up in Bihar to cater to the future needs of the state. These will be in addition to the expansion of Patna Airport and a brownfield airport in Bihta."
She also mentioned Western Kosi Canal ERM project in Mithilanchal region of Bihar.
Financial assistance will be given to Western Kosi Canal ERM project benefiting 50,000 plus farmers of Mithilanchal region of Bihar," she said.
Finance Minister also announced the setting up of the National Institute of Food Technology, Entrepreneurship and Management in Bihar, to provide a strong fillip to food processing activities in the entire Eastern region.
Finance Minister Nirmala Sitharaman also made a significant step towards the transition of clean energy when she announced a Nuclear Energy Mission in the presentation of the Union Budget 2025.
The mission aims to develop at least 100 GW of nuclear energy by 2047, in line with India's vision of becoming a developed nation under the "Viksit Bharat" initiative.
