Shrimp and seafood exporters' stocks, including Apex Frozen Foods, Zeal Aqua, and Avanti Feeds, rose over 5% after the basic customs duty on seafood exports was reduced. Budget 2025 also announced the establishment of a framework to support the aquaculture sector. India’s seafood exports were valued at ₹60,000 crore last year.

Finance Minister Nirmala Sitharaman announced that the limit for tax deduction for senior citizens to be doubled to ₹1 lakh.

"Over the past 10 years, our govt has implemented several reforms for convenience of taxpayers, such as faceless assessment, taxpayer charter, faster returns, almost 90% returns being on self-assessment, and Vivad Se Vishwas Scheme. Continuing these efforts, I reaffirm the commitment of the tax department, to trust first scrutinise later. I also propose to introduce the new Income Tax Bill next week. I will detail the indirect tax reforms and changes in indirect taxes in Part B," said Finance Minister Nirmala Sitharaman.

Finance Minister Nirmala Sitharaman said that the cobalt powder and waste, lead, zinc, scrap of lithium-ion battery, and 12 more critical minerals will be exempted from Basic Customs Duty (BCD).

She also announced that 35 additional goods for EV battery manufacturing, and 28 additional goods for mobile phone battery manufacturing to be added to list of exempted capital goods.

In her Budget speech, Union Finance Minister Nirmala Sitharaman said that the Budget aims to initiate transformative reforms across six domains. They are

• Taxation
• Power sector
• Urban development
• Mining
• Financial Sector
• Regulatory Reforms

"During the next five years, these will augment our growth potential and global competitiveness," she said.

Finance Minister Nirmala Sitharaman announced that 36 lifesaving drugs and medicines will be added to the list of medicines fully exempted from Basic Customs Duty

37 more medicines and 13 new patient assistance programmes will be fully exempted from Basic Customs Duty (where they are supplied free of cost to patients).

• 7 tariff tates to be removed, over and above 7 rates removed in 2023-24 Budget
• Social Welfare Surcharge to be exempted on 82 tariff lines that are subject to a cess

The government is committed to fiscal consolidation, Finance Minister Nirmala Sitharaman said. She said this will ensure that the central government’s debt is reduced every year. The revised fiscal deficit estimate is 4.8%

• FDI limit for insurance sector to be raised from 74% to 100%
• Forum for regulatory coordination and development of pension products to be set up
• Revamped Central KYC Registry to be rolled out in 2025 to simplify the KYC process

In a big announcement, Finance Minister Nirmala Sitharaman raised the foreign direct investment (FDI) limit in the insurance sector to 100% from 74% earlier.

Budget 2025 Live Updates: In her budget speech, Finance Minister Nirmala Sitharaman announced that broadband connectivity will be provided to all government secondary schools and primary healthcare centres.

Shares of footwear manufacturing company, Relaxo Footwears and Mirza International jumped more than 5% after FM Nirmala Sitharaman announced plans for a new policy for leather and other footwear sectors.

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman announced that the government will developing the top 50 tourist sites in partnership with states.

Union Finance Minister Nirmala Sitharaman said, "50,000 Atal Tinkering Labs will be set up in government schools in the next five years to cultivate the spirit of curiosity and innovation and foster a scientific temper among young minds. Broadband connectivity will be provided to all government secondary schools."

For food processing, Finance Minister Nirmala Sitharaman announced that the National Institute of Food Technology, Entrepreneurship and Management will be established in Bihar.

“This will result in enhanced income for farmers through value addition and skilling, entrepreneurship and employment opportunities for the youth," she said.

For Atmanirbharta in urea production, a plant with annual capacity of 12.7 lakh metric tonnes will be set up in Assam, FM Nirmala Sitharaman announced.

"With rising income levels, the consumption in fruits is also increasing and remuneration for farmers will also increase in collaboration with states," Finance Minister Nirmala Sitharaman said, adding, "There is a special opportunity in Bihar, the Makhana board will be established in the state. The board will provide training and support to Makhana farmers."

New Fund of Funds for Startups to be set up to power Entrepreneurship with fresh contribution of another ₹10,000 crore, in addition to existing government contribution of ₹10,000 crore, the finance minister announced.

She also announced a new Scheme for 5 lakh women, scheduled castes & scheduled tribes first-time entrepreneurs.

Budget 2025 Live Updates: "India Post to be transformed into large public logistic organisation with 1.5 lakh rural post offices to become catalyst for rural economy," Finance Minister Nirmala Sitharaman said.

Finance Minister Nirmala Sitharaman announced that the government will enhance limit for interest subvention scheme for Kisan Credit Card from ₹3 lakh to ₹5 lakh.

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman announced new classification criteria for micro, small and medium enterprises (MSMEs).

• Investment limit for MSME classification to be made 2.5 times -Turnover limits for MSME classification to be doubled
• Credit guarantee cover for MSMEs to be significantly enhanced
• Customised credit cards for Micro Enterprises to be introduced

Finance Minister Nirmala Sitharaman said that a comprehensive programme for raising vegetables, fruits production, and providing remunerative prices will be launched.

"Our economy is the fastest-growing among all major economies. Our development track record for the past ten years and structural reforms have drawn global attention. Confidence in India's capability and potential has only grown in this period. We see the next five years as a unique opportunity to realise Sabka Vikas, stimulating balanced growth in all regions," Finance Minister Nirmala Sitharaman said.

Finance Minister Nirmala Sitharaman announced the PM Dhan Dhanya Krishi Yojana in partnership with states. The scheme will cover 100 districts with low productivity, moderate crop intensity and below-average credit parameters.

It will provide help to 1.7 crore farmers

In her Budget speech, Finance Minister Nirmala Sitharaman said, "Viksit Bharat encompasses zero poverty, 100% quality education and comprehensive healthcare."

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman said that the Budget will focus on accelerating growth and enhance spending.

Finance Minister Nirmala Sitharaman is delivering her highly anticipated and historic Budget speech. The budget will outline key economic policies and initiatives that will shape the country’s financial landscape for the coming year.

As the union budget 2025 is just moments away, the NIFTY DEFENCE index is up 2%, highlighting expectations of a boost to defence spending.

Stocks like HAL (up ~7%), Bharat Electronics (up ~7%), and Mazgaon Dock (up ~8%) are all at near-day highs.

Finance Minister Nirmala Sitharaman is set to deliver her highly anticipated and historic Budget speech shortly. The budget will outline key economic policies and initiatives that will shape the country’s financial landscape for the coming year.

Oil companies in India sell LPG at a subsidised rate, leading to big losses. In Budget 2024, no relief was given for these losses due to subsidies. It is expected that Budget 2025 might offer compensation, which would help companies like Indian Oil, HPCL, and BPCL if subsidies increase.

The Cabinet has approved the Union Budget 2025-26. Finance Minister Nirmala Sitharaman will deliver her historic Budget speech shortly.

A combination of file images shows Union Finance Minister Nirmala Sitharaman with the ‘Union Budget’ in the years.

Image: PTI

Finance Minister Nirmala Sitharaman has reached Parliament. She will deliver the much-awaited Budget speech at 11 am on Saturday in Lok Sabha.

The Union Budget will be broadcast live on state-run Doordarshan and Sansad TV channels. Finance Minister Nirmala Sitharaman's speech will also be available on Upstox's YouTube channel.

Union Finance Minister Nirmala Sitharaman will present Budget 2025 on Saturday, with markets keenly watching for fiscal prudence while addressing concerns over slowing economic growth, high inflation, and stagnant wages.

Here are key numbers to watch in Budget 2025

• Fiscal deficit
• Capital expenditure
• Debt roadmap
• Borrowing
• Tax revenue
• GST collections
• GDP growth
• Dividends
• Disinvestment and asset monetisation
• Sectoral spending

On Budget expectations, Rustom Kerawalla, Founder Chairman of Ampersand Group, said, "This year’s budget is eagerly anticipated as a pivotal moment for India’s advancement. With a focus on National Education Policy 2020, this budget should focus on better utilisation of allocated spends on education, increased funding for skill development and technology integration in schools. Incentivizing Public-Private Partnerships can bridge gaps in resources and infrastructure, enhancing access and quality across all levels of education. As an advocate for holistic learning, I strongly believe that a forward-thinking approach in education policies can empower millions of students, nurture skilled professionals and unlock the untapped potential of our youth."

Union Finance Minister Nirmala Sitharaman calls on President Droupadi Murmu at Rashtrapati Bhavan ahead of Budget 2025 presentation.

Finance Minister Nirmala Sitharaman will present her eighth straight Budget on Saturday. She will deliver the much-awaited budget from a digital tablet kept in a traditional 'bahi-khata' style pouch.

Budget 2025 LIVE: The price of Jet fuel, or aviation turbine fuel (ATF), on Saturday, was hiked by 5.6%, while the rate of commercial liquefied petroleum gas (LPG) that is used in hotels and restaurants was cut by ₹7 per 19-kg cylinder in the monthly revision done in line with the benchmark international prices.

Paring initial losses, NIFTY50 jumped 0.3% to 23,578 in the early trade on Saturday, February 1. SENSEX also jumped 230 points to 77,730.

In the NIFTY50 space, ITC Hotels, BEL, Mahindra and Mahindra were the top gainers.

The benchmark indices were trading marginally lower in the early trade on Saturday, February 1, 2025, the Budget day. NIFTY50 declined 0.04% to 23,497, while SENSEX fell 40 points to 77,461 at 9:21 am.

ONGC, Hero MotoCorp, Dr Reddy's, Nestle India and Titan declined the most in the NIFTY50 space.

Union Finance Minister Nirmala Sitharaman has left the Ministry of Finance. She will present the highly anticipated Budget 2025 at Parliament at 11 am on Saturday using a tab instead of the traditional 'bahi khata'.

"We are very excited for the Union Budget today. The expectation for every common man is tax relief... tax relief on income tax. We are expecting some tax slabs to be increased so that... there can be better exemptions. We are looking at some exemptions on capital gains as well. From J-K prospective, we are looking at new extension of new Central Sector Scheme, a lot of investment came under that scheme. We are looking for some packages for the local existing industries because as big industries are coming in... to support them we will need a lot of ancillary industries," Assocham Jammu and Kashmir Council Chairman Manik Batra said.

Ranjeet Mehta, the CEO and Secretary General of the PHD Chamber of Commerce and Industry, said, "We hope there will be a lot of support for MSMEs and the agri sector. There will be support for digital, social, physical, and health infrastructure. There will be some relief for the middle class in our country. People are really expecting it. The idea is to give more money to people."

Chief Economic Adviser V Anantha Nageswaran said on Friday that the golden era of globalisation is probably disappearing amid geopolitical and policy uncertainties, leading to a slowdown in economic growth.

According to the Economic Survey, the Indian rupee depreciated 2.9% in the first nine months of the financial year 2024-25, performing better than currencies such as the Canadian Dollar, the Brazilian Real, and the South Korean won.

"In the first nine months of FY25 (up to 6 January 2025), the INR depreciated a modest 2.9%, performing better than currencies such as the Canadian Dollar, South Korean Won and the Brazilian Real, which depreciated by 5.4$, 8.2% and 17.4%, respectively, during the same period," it said.

Union Finance Minister Nirmala Sitharaman has reached the Ministry of Finance ahead of the Budget 2025 presentation at Parliament on Saturday, February 1.

Ankit Kumar, CEO of Skye Air, considers that boosting the adoption of drones in the logistics sector, particularly in quick-commerce and e-commerce segments, should be a key focus in the Budget.

"With the rising demand for efficient last-mile delivery solutions, drone technology is poised to play a transformative role in meeting these needs. To realise this potential, we urge the government to foster an enabling ecosystem through targeted policy measures," Kumar said.

According to a EY report, the Budget 2025 may project a 20% growth in capex spending to drive economic activity, income tax concessions to boost domestic demand, and a 4.4% fiscal deficit target for the fiscal ending March 2026.

"The FY26 budget should therefore restore the momentum of growth in GoI's capital expenditure. This may be supplemented by some rate rationalisation and income tax deductions aimed at increasing personal disposable incomes, particularly in the hands of lower income and lower middle-income groups," EY India Chief Policy Advisor DK Srivastava said.