Prime Minister Narendra Modi called on the citizens of India on Friday to aid in fulfilling the dream of Viksit Bharat by the year 2047, which will mark a century of the nation’s Independence. He further said that the country is on a “mission mode” to achieve innovation, inclusivity, and investment.
“I pray that Maa Lakshmi continues to bless the poor and middle class of our country. It is a matter of great pride that India completed 75 years as a democratic nation. India has established itself well on the global pedestal…This is the first complete budget of my third term,” he said addressing the media prior to the tabling of the Economic Survey.
“I can confidently say that in 2047, when India will complete 100 years of Independence, India will fulfil its aim of Viksit Bharat and this budget will give new energy and hope to the nation,” he added. “Innovation, inclusion, investment basis of our roadmap for economic activities. First time since 2014 that no foreign attempt has been made to stoke trouble before a Session.”
The prime minister also noted in his address that the budget to be presented on February 1 will create a new energy and spirit in the citizens of India.
Finance Minister Nirmala Sitharaman will table the Economic survey in Parliament on Friday at 12pm.
It will provide an official assessment of the nation’s economic performance in the current financial year and highlight the challenges the country faces. It is prepared by a team led by Chief Economic Adviser V Anantha Nageswaran and outlines the economic developments and sectors, along with a forecast for the next fiscal year.
The Economic Survey will be followed by the Union Budget in the Budget Session 2025, addressing key legislative matters.
The Saturday budget will be the first full budget of the Modi 3.0 government. Expectations are high for potential changes in income tax slabs, a significant boost to infrastructure, and larger allocations for rural development and education.
The budget may also include measures to address India’s projected slowest growth in four years, driven by weak urban demand and inflation risks linked to a depreciating currency.
Among the bills to be considered are the Banking Laws (Amendment) Bill, the Railways (Amendment) Bill, and the Disaster Management (Amendment) Bill. Other notable proposals include updates to oil exploration regulations and safety standards for industrial boilers. Bills related to the representation of Scheduled Tribes in Goa, as well as religious endowment reforms, will also be introduced, along with maritime law updates to modernise shipping regulations.
