Budget 2025 Date: When And Where To Watch Live, Key Highlights, Tax Updates, And Major Reforms!

Finance Minister Nirmala Sitharaman is set to present her eighth consecutive Union Budget on Saturday, February 1, 2025. This marks the second full financial budget of Prime Minister Narendra Modi's National Democratic Alliance (NDA) government during its third term. Continuing the trend of modernization, the Budget 2025-26 will be delivered in paperless format, following the practice established in recent years, as reported by The Mint.

What is the Union Budget 2025?

The Union Budget is an annual financial statement that outlines the government's proposed expenditures and revenue for the fiscal year. For the upcoming fiscal period (April 1, 2025, to March 31, 2026), the Budget will encapsulate India's economic priorities, fiscal policies, and spending plans. Popularly referred to as the "bahi-khaata," the Budget document provides a comprehensive view of the government's revenue and expenditure strategies.

Key Details: Union Budget 2025

• Date and Time: February 1, 2025, at 11:00 AM.
• Venue: Lok Sabha, Indian Parliament.

Where to Watch Budget 2025 Live?

Finance Minister Sitharaman's Budget speech will be broadcast live through several platforms, ensuring easy access for everyone:

1. Television:

• Doordarshan (National Broadcaster)
• Sansad TV

2. Online Streaming:

• Official YouTube channels of the government.
• Livemint.com, which will also host a dedicated Budget live blog for real-time updates.

3. Mobile and Web Access:

• Digital access to all Budget documents via the official Union Budget portal www.indiabudget.gov.in.
• Download the Union Budget Mobile App for a hassle-free experience in accessing crucial documents like the Annual Financial Statement, Demand for Grants, and the Finance Bill.

Budget Highlights and Preparations

Halwa Ceremony

A longstanding tradition, the Halwa Ceremony marks the final stage of budget preparation. Initiated in the 1980s, this ritual signifies the printing of budget documents and brings together officials and staff involved in the process, as reported by The Mint.

Preparatory Timeline

1. The budget-making process began in October 2024, with extensive discussions between the Finance Ministry and other departments to finalize the government's financial estimates.
2. The Modi government, since 2014, has introduced several reforms to the budget process, such as:

• Merging the Rail Budget with the Union Budget (2017).
• Shifting the presentation date to February 1 for smoother implementation of fiscal policies.
• Adopting a paperless format starting in 2021 to reduce environmental impact and improve efficiency.

Why is the Union Budget Significant?

The Union Budget is a crucial economic event as it sets the tone for India's economic policy and governance for the upcoming fiscal year. It directly impacts:

Income Tax Reforms: Speculations about updates to the old and new tax regimes.
GST Revisions: Hopes for reduced Goods and Services Tax (GST) rates.
Public Welfare Programs: Allocation of funds to various sectors, including education, health, and infrastructure.

Where to Track Live Updates and Post-Budget Analysis?

For real-time updates and expert insights, follow the Budget Live Blog on Livemint.com.
Access the detailed Budget documents and resources via the Union Budget portal and app.

Budget 2025 And Its Significance

The Union Budget 2025 is not just a financial document-it's a reflection of the government's priorities, vision, and strategy for economic growth, as per media reports. Whether it's tax reforms, welfare schemes, or policies impacting businesses, the announcements will shape India's fiscal landscape for the coming year. Stay tuned for February 1, 2025, to witness this key event live!