01 Feb (GulistanNewsTv): In today’s Union Budget 2025-26 speech, Finance Minister Nirmala Sitharaman outlined a series of measures aimed at reviving economic growth, easing the burden on the middle class, and ensuring long-term fiscal discipline. Here are the main takeaways:
• Boosting Economic Growth and Easing Living Costs
The speech emphasized targeted measures to stimulate growth amid a projected slowdown—the economy is expected to post its slowest growth in four years. The government plans to ease the cost of living by implementing tax cuts on income and energy products, which is seen as a move to increase disposable incomes and drive consumption.
• Tax Reforms and Middle-Class Relief
Key reforms include a revision of income tax slabs and an increase in the standard deduction for salaried individuals. These changes aim to relieve middle-class taxpayers and bolster consumer spending, reinforcing the government’s commitment to inclusive growth.
• Job Creation and Infrastructure Investment
Building on previous job creation schemes, the budget reinforces the government’s pledge to invest in infrastructure, with an eye on long-term economic reforms. The focus is on enhancing employment opportunities through both rural and urban development initiatives.
• Fiscal Consolidation and Debt Management
The minister reiterated the government’s focus on maintaining fiscal prudence. The speech highlighted plans to tighten fiscal discipline, with the aim of reducing the fiscal deficit to below 4.5% in the coming fiscal year—a move designed to boost investor confidence and ensure macroeconomic stability.
• Global Trade and Deregulation Initiatives
In light of ongoing global trade uncertainties, the speech touched upon measures to navigate international challenges. The government is expected to offer incentives to attract foreign investments and to pre empty potential tariffs from major trade partners, all while pursuing broader deregulation in land and labor markets to foster a more business-friendly environment.
