Finance Minister Nirmala Sitharaman will present the budget today (Photo- PTI)
Digital Desk, New Delhi. Finance Minister Nirmala Sitharaman will present her ninth consecutive budget in the Lok Sabha at 11 am today. In this budget, the main focus of the government is expected to be on increasing 'manufacturing' and 'domestic demand' to accelerate the economic growth rate. Experts believe that this strategy will prove to be most effective in reducing dependence on imports and exploring new export opportunities.
Key features of the budget
Industrial development and exports: The government's emphasis is on increasing local production. Although increasing exports is a challenge due to the global recession, the new reliefs to the manufacturing sector are expected to benefit in the long run. Urban and health infrastructure: Larger allocations are likely in the coming financial year for modernizing cities and making health services more accessible. Rejuvenation of municipal bodies: To make local bodies financially self-reliant, the Center may suggest states to adopt new revenue models, which will help in improving infrastructure. Agriculture and farmers Welfare: Special schemes may be announced with the aim of doubling the income of farmers, increasing their productivity and encouraging them towards 'commercial crops' instead of traditional farming.
No relief in income tax
Due to relief in income tax and GST, the growth rate of tax revenue in the current financial year 2025-26 is less as compared to the previous financial year, hence the chances of the government giving any kind of relief in income tax this year are very less.
The government will also continue the subsidy of about Rs 4.5 lakh crore given under food, fertilizer and MNREGA. Therefore, to raise revenue, the government can also make announcements in the budget on the front of asset monetization and disinvestment.
Roadmaps can be brought for reforms in the states and their reforms can be linked to incentives. Announcements are also possible in the budget to make construction of affordable housing and their purchase easier.
Like the last four-five budgets, an increase in allocation for capital expenditure can be seen in the budget of the upcoming financial year. Capital expenditure is allocated for the development of infrastructure. There are many benefits from this.
Blessings will shower on election states
Employment is created and production costs reduce. Demand increases when employment is created. The latest sector industries like semiconductor, Artificial Intelligence (AI) cannot be ignored in the budget.
Once again, there is a need for research and development. Apart from all this, there are elections this year in states like West Bengal, Assam, Tamil Nadu and like Bihar last year, there may be some gift in the budget for these states too. In the coming financial year, as per its old promise, the government would like to further reduce the fiscal deficit from the target of 4.4 percent of GDP in the current financial year.
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