Union Finance Minister Nirmala Sitharaman is set to present her eighth consecutive Union Budget on Saturday, February 1, 2025, at 11 am in the Lok Sabha. This marks the second full financial budget of Prime Minister Narendra Modi’s National Democratic Alliance (NDA) government in its third term. Continuing the trend since 2021, this year’s budget will also be presented in paperless format.
What is the Union Budget 2025?
The Union Budget is India’s annual financial statement, detailing proposed expenditures and revenues for the next fiscal year, from April 1 to March 31. Often referred to as the bahi-khaata, the budget encapsulates the government’s fiscal, spending, income, and economic policies.
Where and How to Watch Union Budget 2025 Live?
The Union Budget 2025 will be telecast live on:
- Doordarshan, Sansad TV, and the official Parliament channels.
- Government YouTube channels for digital streaming.
- NewsX.com, including its live blog for real-time updates.
Accessing Budget Documents
All budget-related documents, including the Annual Financial Statement, Demand for Grants, and Finance Bill, will be made digitally available. These documents can be accessed through:
- The official web portal: www.indiabudget.gov.in
- Union Budget Mobile App, which provides hassle-free access in Hindi and English.
Budget Preparation Timeline
The groundwork for Budget 2025 began in October 2024, with the Finance Ministry collaborating with various departments to finalize financial estimates and priorities.
What is the Halwa Ceremony?
A unique tradition since the 1980s, the halwa ceremony symbolizes the final stage of budget preparation. It involves the Finance Ministry staff working on the budget being served the dessert as a token of appreciation before they are secluded to maintain confidentiality.
Key Changes in Budget Presentation Over the Years
The Modi government has introduced significant reforms to the budget-making process since 2014, including:
- Merging the Rail Budget with the Union Budget in 2017.
- Advancing the Budget presentation to February 1 for timely financial planning.
- Switching to a paperless format in 2021, in line with digital transformation goals.
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