New Delhi [India], February 1 (ANI): The Lok Sabha was adjourned on Saturday following the presentation of the Union Budget by Finance Minister Nirmala Sitharaman. The House will reconvene on February 3 at 11 a.m.
Before the adjournment, FM Sitharaman introduced The Finance Bill, 2025 in the Lok Sabha. While presenting the Union Budget 2025-26, she outlined a roadmap for India’s continued economic expansion, emphasizing agriculture, micro, small, and medium enterprises (MSMEs), investment, and exports.
She stated that strategic reforms in these sectors would act as catalysts for job creation, self-reliance, and enhanced global competitiveness. She emphasised that the budget is dedicated to accelerating growth and driving India’s aspirations toward becoming a Viksit Bharat (Developed India).
Asserting that the the middle class provide strengths to the economy, the Finance Minister announced no income tax up to an income of Rs 12 lakhs.
“In recognition of their (Middle class) contribution, we have periodically reduced the tax burdens. I am now happy to announce that there will be no income tax up to an income of Rs 12 lakhs,” she said.
She also proposed to form a Makhana Board in the state of Bihar. Makhana or foxnuts, a nutritious food, is widely produced and consumed in Bihar.
Under One District One Product scheme, Makhana producers have benefited hugely. The Makhana Research Center has been given the status of a national institution, with Makhanas having also received a GI tag.
Sitharaman stressed on unlocking the potential of India’s marine sector and said that the government will bring a framework for sustainable harnessing of fisheries with a special focus on Andaman and Lakshadweep zones.
The Finance Minister announced that her government will provide ID cards to gig workers. Gig worker will also be provided access to healthcare via a social security scheme.
She said her government will invest in street vendors and online and urban workers. Gig workers of online platforms to be provided with identity cards and registration on e-Shram portal.
She stated that the government sees the next five years as a unique opportunity to realise development for all (Sabka Vikas) to stimulate balanced growth of all regions.
The Finance Minister remarked that India’s development track record for the past 10 years and structural reforms have drawn global attention.
Highlighting major announcements for Bihar, FM Sitharaman announced that Greenfield airports will be felicitated in Bihar in addition to the expansion of the capacity of the Patna Airport and a brownfield airport in Bihta.
Presenting the Union Budget, FM Sitharaman said, “Greenfield airports will be felicitated in Bihar to meet the future needs of the state. These will be in addition to the expansion of the capacity of Patna airport and a brownfield airport in Bihta.”
She also highlighted the Western Kosi Canal ERM project in the Mithilanchal region of Bihar.”
Financial support will be provided for the Western Kosi Canal ERM project benefitting a large number of farmers cultivating over 50,000 hectares of land in the Mithilanchal region of Bihar,” she said.
The Finance Minister also announced the establishment 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.
In a major step towards clean energy transition, Finance Minister Nirmala Sitharaman announced a Nuclear Energy Mission during the presentation of the Union Budget 2025.
The mission aims to develop at least 100 gigawatts (GW) of nuclear energy by 2047, aligning with India’s vision of becoming a developed nation under the “Viksit Bharat” initiative. (ANI)
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