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Subscribe to enjoy similar stories. Budget 2025 lays out a transformative roadmap for India’s economic progress, striking a fine balance between fiscal prudence and growth-driven reforms. With a strong focus on empowering the middle class, accelerating retail consumption, and bridging the urban-rural divide, this budget reaffirms the government’s commitment to inclusive and sustainable development.

Subscribe to enjoy similar stories. The BOE looks set to do something it hasn’t often done in the past: diverging from the Federal Reserve. The Bank of England is set to join a growing number of central banks that are pressing ahead with cuts to their key interest rates, even as the most important central bank goes on a pause of uncertain duration.

Subscribe to enjoy similar stories. NEW DELHI : Finance and revenue secretary Tuhin Kanta Pandey emphasized on Monday that the Indian rupee remains a free-floating currency and the government is not alarmed by exchange rate fluctuations, which are driven by cross-border capital flows. This comes as the rupee tumbled to a record low of 87.29 against the US dollar, dropping 67 paise in early trade, following fresh tariffs imposed by US president Donald Trump, sparking fears of a broader trade war.

Subscribe to enjoy similar stories. The budget this year came in the background of an economic slowdown led by weak urban consumption and lower government capex. Hence, finance minister (FM) Nirmala Sitharaman was expected to stimulate growth while continuing on the path of fiscal consolidation.

Asia shares are mostly declining as worries grow about President Donald Trump imposing tariffs on key U.S. trading partners

U.S. President Donald Trump’s unprecedented move to pull America’s closest neighbours into a trade war has left some Republican lawmakers precariously navigating how to support the leader’s tariff agenda while their local economies brace for impact.

data centres may increase demand for electricity, however, it is difficult yet to predict how demand may change with the appearance of one technology such as DeepSeek, it said by email.

KV Subramanian, Executive Director, IMF, says the finance minister stated that tax cuts will put around Rs 1 lakh crore in the hands of the middle class. Middle class savings are roughly 18%, and if we round it to 20%, it suggests that 80% of this amount will be spent. The consumption multiplier, which is the inverse of the savings rate, is about five. Therefore, we can anticipate a total increase in consumption of around Rs 5 lakh crore, which represents about 2.7% of GDP. The GDP growth estimate is at 6.3% on the lower end. Adding that 2.7% could bring the total to 9%, and even with some overestimation, a growth rate near 8%, definitely above 7%. What a Budget it turned out to be! What were the key bullet points that stuck with you from the Budget this time? KV Subramanian: I have had an all-nighter here watching the Budget in Washington DC. And I think there are a few aspects that are really worth mentioning. As I tweeted just after the Budget, I did a quick analysis of the impact of the personal income tax rate cut on overall consumption and thereby on GDP. I think this is an aspect that is quite important. Unlike, for instance, infrastructure where the impact of that persists over many years, the impact of a personal income tax rate cut, which actually affects consumption, will be there for this year. But I think that impact is going to be large.

sustainable growth and global competitiveness. It is about empowering people, boosting businesses, and building a resilient economy that can thrive in the long run.

expenditure secretary Manoj Govil tells ET in an interview. Edited excerpts:

Subscribe to enjoy similar stories. Finance minister Nirmala Sitharaman has presented a strong Union budget for 2025-26. It comes at a time of high uncertainty linked to global events, slowing domestic demand and a challenging fiscal outlook.

Subscribe to enjoy similar stories. The Union Budget for 2025-26 will be known for several path breaking measures, and in a true sense, it's a people's budget. The budget has announced significant measures for manufacturing, MSMEs, employment, regulatory reforms, strategic areas like ship-building, nuclear and many more, thereby accelerating our journey towards Viksit Bharat.

NITI Aayog's former CEO Amitabh Kant has hailed the Union Budget 2025 as one of the most progressive and forward-looking financial plans, asserting that it lays the foundation for India's sustained economic growth at 8-9 per cent over the next three decades.

Budget 2025 has moved in a path that at once caters to the immediate requirements of the economy, while continuing on the path to investing for future growth, even while ensuring a tight leash on the fiscal deficit.

Nirmala Sitharaman's Budget 2025 has been widely praised for its tax bonanza for the middle class as well as its fiscal prudence. The tax relief to the middle class is important for its expected immediate impact on the economy.

discounted fares across domestic and international routes, in a bid to boost demand in the forthcoming holiday season.

Economist Steve Moore and former member of White House Council of Economic advisors Tomas Philipson discuss President Donald Trump’s tariffs on foreign countries on ‘The Bottom Line.’