Union Cabinet Gives Nod to 2025-26 Budget Amid Slowing Growth

The Union Cabinet, led by Prime Minister Narendra Modi, approved the 2025-26 Budget. Finance Minister Nirmala Sitharaman is set to present the Budget, amid a slowdown to a four-year low of 6.4% growth and calls for tax relief. This is the BJP-led government's second Budget in its third term.

The Union Cabinet, under the leadership of Prime Minister Narendra Modi, has given its approval to the Union Budget for the fiscal year 2025-26. The decision marks a significant step as Finance Minister Nirmala Sitharaman prepares to present her eighth consecutive Budget in the Lok Sabha.

This year's budget comes against a backdrop of economic challenges, with growth slowing to a four-year low of 6.4%. There is increased demand for tax relief, given the moderation in consumption patterns across the country.

Notably, this is the BJP-led NDA government's second Budget in its third term, continuing Sitharaman's shift from using a leather briefcase to a traditional 'bahi-khata' in a paperless format, maintaining the trend set over the last few years.