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The 2025 Union budget of India was presented by Finance Minister Nirmala Sitharaman on 1 February 2025 for the financial year 2025-2026. [1] This was the first full financial year budget of Prime Minister Narendra Modi's third term in office.
The Union Budget is the annual financial report of India; an estimate of income and expenditure of the government on a periodical basis. As per Article 112 of the Indian Constitution, it is a compulsory task of the government. [3] The first budget of India was presented on 18 February 1860 by Scotsman James Wilson. [4]
The Union Budget of India, also referred to as the Annual Financial Statement in Article 112 of the Constitution of India is the annual budget of the Republic of India set by Ministry of Finance for the following financial year, with the revenues to be gathered by Department of Revenue to identify planned government spending and expected government revenue and the expenditures gathered by ...
The 2024 Interim-Union Budget of India [1] provides comprehensive information regarding the projected revenue and government spending for the fiscal year 2024–25, commencing on 1 April 2024 and concluding on 31st March 2025. [2] [3] [4]
2–3 July – 2024 India-Bangladesh floods: At least sixteen people are killed by floods and landslides in Assam and Arunachal Pradesh, while over 300,000 more are displaced. [102] [103] 5 July – A victory parade is held in Mumbai by the Indian cricket team following their victory in the 2024 ICC Men's T20 World Cup. [104] [105]
The defence budget of India was increased to ₹ 621,940 crore (US$71 billion) in the 2024-2025 union budget from ₹ 593,538 crore (US$68 billion) during last year. This year’s defence budget accounts for 1.89% of the country’s projected gross domestic product (GDP) for 2024-25. [15]
The government has announced the campaign to take place in phases [10] and has set 2 October 2025 as the target, [11] aiming to bring the annual income of the families to a minimum of ₹ 1.25 lakh (US$1,400), both from Direct Benefit Transfers and custom livelihood support for the identified poor households.
India’s ‘Aid to Countries’ under Budget 2024 [7] Aid to Countries Budget 2023-2024 (in ₹ crore) Revised 2023-2024 (in ₹ crore) Budget 2024-2025 (in ₹ crore) Bhutan 2,400.58 2,398.97 2,068.56 Afghanistan 200 220 200 Bangladesh 200 130 120 Nepal 550 650 700 Sri Lanka 150 60 245 Maldives 400 770.90 400 Mongolia 7 5 5 African Countries 250