Anticipating Relief: Nirmala Sitharaman's Eighth Budget Presentation
Finance Minister Nirmala Sitharaman is set to present her eighth Union Budget, focusing on potential tax relief for the middle class. Key areas include fiscal deficit targets, capital expenditure, and the government's borrowing strategy. The Budget will also feature continued efforts in fiscal consolidation and asset monetisation initiatives.
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- Country:
- India
Finance Minister Nirmala Sitharaman is poised to deliver her eighth consecutive Union Budget, drawing keen attention for possible tax relief aimed at the middle class.
In 2019, Sitharaman transformed the traditional presentation approach by replacing the leather briefcase with a 'bahi-khata'. Continuing the digital trend, this year's Budget will be paperless, as it has been for the past three years.
Key expectations are centered around fiscal deficit management, set at 4.9% of GDP for FY25 and a target of 4.5% for FY26. Capital expenditure is another focal point, budgeted at Rs 11.1 lakh crore, though initial delays hint at lower realization. Observers are particularly focused on the government’s borrowing plans and the GST revenue growth trajectory as crucial indicators of economic health.
(With inputs from agencies.)