Budget 2025: Something for the poor, women and middle class, PM Modi hints

FM Nirmala Sitharaman speaks during Parl Budget session. PIC/PTI

India is expected to record GDP growth of 6.3-6.8 per cent in the financial year 2025-26 on the back of strong fundamentals, calibrated fiscal consolidation and stable private consumption, said the Economic Survey tabled in Parliament on Friday. The economic growth rate is estimated to slip to a four-year low of 6.4 per cent in the current financial year.

"...the fundamentals of the domestic economy remain robust, with a strong external account, calibrated fiscal consolidation and stable private consumption. On balance of these considerations, we expect that the growth in FY26 would be between 6.3 and 6.8 per cent,"the survey said.

The Economic Survey 2024-25, tabled by Finance Minister Nirmala Sitharaman in both houses of Parliament, said navigating global headwinds will require strategic and prudent policy management and reinforcing the domestic fundamentals. The Budget 2024-25 laid out a multi-sectoral policy agenda for sustained growth push. It further said that investment activity expected to pick up, supported by higher public capex and improving business expectations.

As regards to inflation, it said risk from higher commodity prices seems limited in FY26. However, geopolitical tensions are still an issue, it added. Food inflation is likely to soften in Q4 FY25 with seasonal easing of vegetable prices and kharif harvest arrivals. The FM will present the Budget on February 1 in the Lok Sabha at 11 am.

Measures for middle class

Prime Minister Narendra Modi hinted at new initiatives for the poor and middle class as well as women as he laid out his government's vision. Modi began his customary pre-session remarks by invoking Lakshmi, the goddess associated with wealth and prosperity, and said he prayed for special blessings for the poor and the middle class.

Stressing the importance of ensuring equal rights for women free from religious and sectarian differences, he asserted that significant decisions towards the goal will be taken during the ongoing Budget Session.

Modi said several historic bills and proposals will be discussed in this session, leading to laws that will strengthen the nation.

Third biggest economy: Prez

President Droupadi Murmu stated that with the efforts of the government, India is going to become the third biggest economy in the world. Murmu in her address to the joint sitting of Parliament also underscored the Central government's focus on the poor and middle class. "Today, the nation is witnessing major decisions and policies being implemented at an extraordinary speed, with the highest priority given to the poor, middle class , youth, women and farmers," she said.

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