Parliament Budget Session Day 1 Highlights: Nirmala Sitharaman tables Economic Survey, both houses adjourned

Congress President Mallikarjun Kharge reacted to the row over Sonia Gandhi's remark on Droupadi Murmu and said that it was the Modi government who insulted the President by not inviting her to new Parliament building's inauguration.

"Her Excellency the President was insulted by the Modi government on the very day when she was not invited to the inauguration ceremony of the new Parliament," Kharge said in a post in Hindi on X.

"The Indian National Congress and our leaders can never insult Her Excellency the President or any citizen. This is not our culture. The BJP had deliberately kept our current President and previous President away from both the Temple of Democracy and the Ram Temple," he said.

Trinamool Congress (TMC) MP Kalyan Banerjee on Friday criticised President Droupadi Murmu's address to the joint sitting of Parliament, calling it 'funny' and 'depressing'. 

"It is really funny. If you compare the speech from 2024 and today's speech, all are equal. It has been proved that nothing new has been done by Narendra Modi in last one year. They are talking about the development of the Northeast, but have the PM, the president or the Vice President ever gone there? No one has gone to Manipur to save the state. I am really frustrated with this speech. Nothing has been said on what will be done in the next one year. Depressing," Banerjee said while speaking to news agency ANI.

Chief Economic Advisor (CEA) Dr. V Anantha Nageswaran on Friday highlighted a significant rise in global trade restrictions, stating that the value of trade affected by new import regulations has increased from USD 170 billion in 2014-15 to over USD 1.3 trillion today. 

"The value of trade affected by new import restrictions has surged from USD 170 billion in 2014-2015 to over USD 1.3 trillion today, highlighting a shift towards strategic competition in global trade. Market forces can enhance the quality of education while expanding irrigation and land pooling could unlock 1 per cent growth in agriculture. Public transport must also play a key role in the energy transition," news agency ANI quoted Nageswaran as saying. 

Congress leader Priyanka Gandhi Vadra on Friday took a potshot at Prime Minister Narendra Modi over his "no foreign attempt to stoke fire" remark, saying he never talks about issues of the common man and does not address them.

"He does not talk about people's issues, does not address them. We saw in the last session, he did not (allow) debate. So he will say such things," the Wayanad MP said while speaking to reporters in Parliament premises.

Prime Minister Narendra Modi on Friday hailed President Droupadi Murmu's address to the joint sitting of Parliament as a "resonant outline" of the nation's path towards building a 'Viksit Bharat'.

"Her address encapsulated the vision for an India where youth have the best opportunities to flourish. The address also included inspiring roadmaps for achieving the goals we have set with a spirit of unity and determination," PM Modi said in a post on X. 

"Today's address by Rashtrapati Ji to both Houses of Parliament was a resonant outline of our nation's path toward building a Viksit Bharat. She highlighted initiatives across sectors and underscored the importance of all-around as well as futuristic development," he added.

Rajya Sabha has been adjourned for the day. 

• India’s economy is projected to grow between 6.3% and 6.8% in the 2025-26 financial year.
• Key economic indicators remain strong, with a stable external account and steady private consumption. Investment is expected to rise, driven by higher public spending and improved business sentiment.
• Food inflation is likely to ease in the final quarter of 2024-25 as vegetable prices decline and Kharif crops enter the market.
• While the outlook for 2025-26 is stable, risks remain, including geopolitical tensions and trade uncertainties.

India's GDP growth for the financial year 2025-26 (FY26) is expected to be between 6.3% and 6.8%, as per the Economic Survey 2024-25. The projection indicates that economic growth may remain slow in the coming year.

The Economic Survey said that the manufacturing sector faced pressures due to weak global demand and domestic seasonal conditions. READ MORE HERE

Congress MP Sonia Gandhi, while dissecting the President's opening remarks on the Budget session, said Droupadi Murmu was "getting very tired" by the end, while her son Rahul Gandhi called it "boring". READ MORE HERE

Lok Sabha adjourned till 11 am on February 1, 2025. 
 

Finance Minister Nirmala Sitharaman tabled the Economic Survey 2024-25 in Lok Sabha on the first day of the Budget session of Parliament. 

India has long taken pride in safeguarding one of its most sensitive documents: the Union Budget. Unlike in other nations, where budget details occasionally leak, India has maintained a near-flawless track record of confidentiality. READ MORE

After the President’s address, Vice President Jagdeep Dhankhar read parts of her speech in English. When he delivered the condolence message for victims of the Maha Kumbh stampede, some Opposition members raised their voices in protest.
 

“In order to enable the entire country to see the potential of the eight States of the North East, the first Ashtalakshmi Mahotsav was organised.” President Murmu said.

"Along with the development of the North-East, the government has started working on the action plan for “Purvodaya” i.e. all-round development of the eastern States of the country, which will also provide new employment opportunities," she added. 

President Droupadi Murmu said, “To ensure health services for all citizens, 1.75 lakh ‘Arogyoa Mandir have been established in the country. Looking at the rising number of cancer patients, customs duty on many cancer medicines has been waved off.”
 

“The Udhampur-Srinagar-Baramulla rail link project has been completed and now the country will be connected by railway line from Kashmir to Kanyakumari,” President Murmu said.

She further added, “The country’s aviation sector is progressing rapidly with the airline companies placing orders of 1700 new aircraft.”

Discussing advancements in artificial intelligence and quantum technology, the President said, "Taking forward India’s contribution in the field of Artificial Intelligence, 'India AI Mission' has been started. With the National Quantum Mission, India will be able to take a place among the leading countries of the world in this frontier technology."

She also spoke about economic resilience. "The stability and resilience that the Indian economy has shown despite global concerns like Covid and its aftermath and war is proof of its strength."

The president highlighted the government's efforts to support businesses. "My government has taken many important steps to promote ease of doing business."
 

President Droupadi Murmu outlined key initiatives undertaken by the government, highlighting efforts in housing, tribal welfare, healthcare, education, and employment.

Speaking about housing, she said, "By expanding the Pradhan Mantri Awas Yojana, it has been decided to provide new houses to three crore additional families. There is a plan to spend Rs 5 lakh thirty-six thousand crore for this."

Addressing tribal welfare, she noted the launch of a campaign to support tribal communities. "'Dharti Aaba Tribal Village Utkarsh' campaign has been started for five crore people of tribal society. A provision of Rs. 80,000 crore has been made for this."

On healthcare, she said the government would extend health insurance benefits to senior citizens. "Under the Ayushman Bharat scheme, it has been decided to provide health insurance to six crore senior citizens aged seventy years and above. They will get a health cover of Rs 5 lakh every year."

The president also spoke about initiatives for youth education and employment. "My government has placed special focus on the education of the youth and creating new employment opportunities for them. PM Vidyalakshmi Yojana has been launched to provide financial assistance to meritorious students in higher education. One crore youth will also be given internship opportunities in top five hundred companies," she said. 

"Today, my government is giving new energy to this golden period of India’s development journey through unprecedented achievements. In the third term, work is being done at three times faster pace. Today the country is seeing major decisions and policies being implemented at an extraordinary pace," President Murmu said. 

In her address to Parliament, President Droupadi Murmu highlighted the 75th anniversary of the Constitution’s adoption. She also acknowledged the ongoing Maha Kumbh festivities in Prayagraj and expressed condolences for the recent stampede victims. She also remembered the former Prime Minister Manmohan Singh during her adress. 

President Droupadi Murmu arrived in Parliament to address the joint sitting of both Houses. She was received by Vice President Jagdeep Dhankhar, Prime Minister Narendra Modi, Lok Sabha Speaker Om Birla, and Union Minister Kiren Rijiju. 

“In this session of Parliament, many historical bills and amendments will be discussed. After due and detailed discussions, these will be formed into laws. Especially Nari Shakti and women empowerment will be the centre of focus. Reform, perform, and transform will be our second area of focus," PM Modi said. 

President Droupadi Murmu departed from Rashtrapati Bhavan for the Parliament building, and will address the joint sitting of both Houses at the beginning of the Budget session.

Addressing the nation ahead of the crucial Budget session, PM Modi also took a jibe at the opposition, saying it was the first time in 10 years that there was no "foreign interference" ahead of a parliament session. READ MORE

The stock market will be open on February 1 for trading on account of the Union Budget 2025. With benchmark indices facing sharp declines in recent months, the ongoing recovery ahead of the budget has brought some optimism. READ MORE

Ahead of the joint Parliament Budget session, Prime Minister Narendra Modi said, “Today, at the beginning of the Budget Session, I offer my respects to the Goddess of Wealth -- Maa Lakshmi.”

“I pray to Maa Lakshmi that she bless this country’s poor and middle class population. Our country has completed 75 years as a Republic. This is a matter of pride for the citizens. The people have elected me for the third time. This is the first full budget of my third term. I believe that this budget will provide new energy towards the fulfilment of the goal of Viksit Bharat by 2047, when we complete 100 years of Independence,” he said. 

“In the third term, we will push the nation towards holistic progress in mission mode. Innovation, Inclusion and Investment have been a constant foundation for our economic roadmap,” he added. 

List of bills likely to be taken up during Budget Session 2025. 

LEGISLATIVE BUSINESS

1. The Banking Laws (Amendment) Bill, 2024
2. The Railways (Amendment) Bill, 2024
3. The Disaster Management (Amendment) Bill, 2024
4. The Oilfields (Regulation and Development) Amendment Bill, 2024
5. The Boilers Bill, 2024
6. The Readjustment of Representation of Scheduled Tribes in Assembly Constituencies of the State of Goa Bill, 2024
7. The Waqf (Amendment) Bill, 2024
8. The Mussalman Wakf (Repeal) Bill, 2024
9. The Bills of Lading Bill, 2024
10. The Carriage of Goods by Sea Bill, 2024
11. The Coastal Shipping Bill, 2024
12. The Merchant Shipping Bill, 2024
13. The Finance Bill, 2025
14. The Protection of Interests in Aircraft Objects Bill, 2025
15. The "Tribhuvan" Sahkari University Bill, 2025
16. The Immigration and Foreigners Bill, 2025

FINANCIAL BUSINESS

1. Discussion and voting on Demands for Grants for the year 2025-26 and introduction, consideration and passing/return of the related Appropriation Bill.
2. Discussion and voting on Second and Final Batch of Supplementary Demands for Grants for the year 2024-25 and introduction, consideration and passing/return of the related Appropriation Bill.
3. Discussion and voting on Demands for Excess Grants for the year 2021-22 and introduction, consideration and passing/return of the related Appropriation Bill.

(Input by Piyush Mishra)

Prime Minister Narendra Modi arrived in Parliament as the Budget session begins today. 

The Budget Session of Parliament will begin on Friday with President Droupadi Murmu addressing the joint sitting of both Houses and Union Finance Minister Nirmala Sitharaman tabling the Economic Survey 2025 in the Lok Sabha and the Rajya Sabha separately. READ MORE

The Budget will have to address several challenges, including decelerating economic growth, falling value of Rupee against the US dollar and moderation in consumption demand.

The economic growth is estimated to slow to a 4-year low of 6.4 per cent in FY25. This is the lowest growth since the outbreak of the COVID pandemic which hit the world in 2019.

(PTI)

The opposition CPI(M) and Congress urged the 16th Finance Commission to ensure direct funding for the Tripura Tribal Areas Autonomous District Council (TTAADC).

Speaking to reporters after attending an all-party meeting hosted by the Finance Commission in Agartala, senior CPI(M) leader Bhanu Lal Saha on Thursday said his party has "categorically demanded" direct funding to the TTAADC as it has its own expenditure and development process.

Saha, the former finance minister of Tripura, said the CPI(M) also demanded the revival of the Planning Commission.

"We demanded that the state's share in central taxes must be increased from 41 per cent to 50 per cent during the 16th Finance Commission's recommendation period. We also sought grants for filling vacant posts in the government and regularisation of DWR or contingent employees," he said.

State Congress president Asish Kumar Saha said his party also urged the Finance Commission to ensure direct funding for TTAADC.

"The state depends on central assistance. Earlier, the state used to receive Rs 1,200-1,400 crore from the Planning Commission for development. Though NITI Aayog was set up in its place, it has no financial power. We urge them to consider the situation in the absence of the Planning Commission," he said.

(PTI)

Finance Minister Nirmala Sitharaman will present the Union Budget 2025 on February 1. This will be her eighth consecutive Budget speech. READ MORE HERE

Ahead of the Union Budget, the Congress on Thursday came out with a ‘Real State of the Economy’ report claiming that the Modi government is marching India forward into the middle income trap, which will make the country uncompetitive, underproductive and unequal.

The opposition party also said that India’s GDP growth for 2024-25, as per government data, is expected to be 6.4% but this rate of growth is not a cause for celebration as India needs a sustained GDP growth of 8 per cent if it wants to encash its historic demographic dividend.

India has over the last few years consistently failed to achieve targets, the report said, claiming that the Modi government is marching India forward into the middle income trap, “which will make us uncompetitive, underproductive and unequal”.

(PTI)

Finance Minister Nirmala Sitharaman will present the Economic Survey 2024-25 today, offering an official review of the economy’s performance in the current financial year and outlining the challenges the country faces.

The Finance Minister is set to present the Economic Survey in the Lok Sabha at 12 pm and in the Rajya Sabha at 2 pm today.

President Droupadi Murmu will open the 2025 Budget session in Parliament today with an address to both Houses. She will speak from the Lok Sabha chamber at 11 am. Finance Minister Nirmala Sitharaman will then present the Economic Survey 2025.