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News updates: FM gives final touches to her record eighth Budget

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Nirmala Sitharaman

Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Friday gave final touches to the first full Budget of Modi government's third term that is expected to balance the aspiration of the middle class for tax cut and needs of the economy to boost growth. Sitharaman will on February 1 present a record eighth consecutive Budget that is expected to contain measures to shore up weakening economic growth and ease the burden on the middle class struggling with high prices and stagnant wage growth while being fiscally prudent. "Union Minister for Finance and Corporate Affairs Smt. @nsitharaman interacts with the Secretaries and the senior officials involved in the Budget making process @FinMinIndia while giving final touches to the Union Budget 2025-26 at her office in North Block, in New Delhi, today," the finance ministry said in a post on X. Minister of State for Finance Pankaj Chaudhary also participated in the meeting, it said. The Budget will come in the backdrop of the GDP growth rate projected to fall to 4-year low of 6.4 per cent in the current financial year, close to its decadal average. The Economic Survey 2024-25 tabled by the Finance Minister in both Houses has estimated India's GDP growing in the range of 6.3-6.8 per cent in FY26, much lower than what is needed to become a developed country, and requires deregulation and reforms in areas like land and labour to stimulate growth. It indicated that India's world-beating growth is moderating and more needs to be done to achieve the near 8 per cent annual rate required to achieve the Viksit Bharat target by 2047. The 6.3-6.8 per cent growth rate in the 2025-26 financial year compares to an estimated 6.4 per cent growth in the current year ending March 31 -- the weakest since the pandemic -- and 8.2 per cent in the 2023-24 financial year.
  India is set to see above-average temperatures in February after a warmer January, the weather office said on Friday, posing a risk to key winter-sown crops such as wheat, rapeseed and chickpea. Maximum and minimum temperatures in most parts of the country would be above-average in the month, Mrutyunjay Mohapatra, director-general of the India Meteorological Department (IMD) told a virtual news conference. Fiscal deficit for April-December was $105.58 billion, or 56.7 per cent of the estimate for the financial year, government data showed on Friday.
  Delhi households save an average of ₹25,000 per month due to the AAP government's welfare schemes, and if the party returns to power, new initiatives will add another ₹10,000 to their savings, AAP chief Arvind Kejriwal said on Friday. Speaking at the launch of the 'Bachat Patra' campaign, which highlights the financial benefits of AAP's policies, Kejriwal cited proposed schemes such as free bus travel for students, Mahila Samman Yojana, and Sanjeevani Yojana. With the Union Budget set for February 1, he contrasted AAP's welfare approach with BJP's policies.  AAP convenor Arvind Kejriwal congratulated the people of Delhi for the success of their 'struggle' to stop the flow of contaminated water. Taking to X, he said that ammonia levels in the water dropped from 7 ppm to 2 ppm, saving Delhi from a potential water crisis. "Many congratulations to the people of Delhi. Our struggle bore fruit. The poisonous water that was being sent to Delhi has now stopped. The amount of ammonia in the water coming to Delhi has decreased from 7 ppm to 2 ppm. If we had not raised our voice and struggled, half the population of Delhi would not have been getting water today. We saved Delhi from a huge water crisis. The Election Commission has issued a notice and threatened me. My reply to the Election Commission," he wrote in his X post.  AAP supremo Arvind Kejriwal went to the Election Commission's office here on Friday and furnished his reply to the poll body over its notice to him on his "poison mixed" in Yamuna water remark. Kejriwal was accompanied by Delhi Chief Minister Atishi and her Punjab counterpart Bhagwant Mann. The former Delhi chief minister went to the Election Commission's office without an appointment. Sources from the Election Commission (EC) said that they accepted the meetings as a "special case" as campaigning in Delhi is at its peak. "The Commission accepted the manner of meeting with Arvind Kejriwal today as a special case, altering its earlier schedule in view of the thick of the campaign period in Delhi and for leaving no scope for complaint for any stakeholders," an EC source said.
  Wing Commander Shubhanshu Shukla, the Indian Air Force (IAF) officer who was recently chosen as the 'Prime' astronaut for Indian Space Research Organisation's (Isro) Gaganyaan mission, has been selected as the pilot for Axiom Mission 4, scheduled for Spring 2025. Shubhanshu Shukla, a serving IAF officer, will serve as the pilot for Ax-4 mission. The Ax-4 mission will be commanded by former Nasa astronaut Peggy Whitson, Axiom Space's director of Human Spaceflight. The two mission specialists are ESA project astronaut Slawosz Uznanski-Wisniewski from Poland and Tibor Kapu from Hungary. The Ax-4 mission will "realize the return" to human spaceflight for India, Poland, and Hungary, with each nation's first government-sponsored flight in more than 40 years.
  US President Donald Trump warned Brics nations against trying to move away from US dollar, threatening to impose a 100 per cent tariff. He posted, "The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER. We are going to require a commitment from these seemingly hostile countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty US Dollar or, they will face 100 per cent tariffs, and should expect to say goodbye to selling into the wonderful US economy. They can go find another sucker nation. There is no chance that BRICS will replace the US Dollar in International Trade, or anywhere else, and any Country that tries should say hello to Tariffs, and goodbye to America!" 
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3:12 PM

FM gives final touches to her record eighth Budget

Finance Minister Nirmala Sitharaman on Friday gave final touches to the first full Budget of Modi government's third term that is expected to balance the aspiration of the middle class for tax cut and needs of the economy to boost growth. Sitharaman will on February 1 present a record eighth consecutive Budget that is expected to contain measures to shore up weakening economic growth and ease the burden on the middle class struggling with high prices and stagnant wage growth while being fiscally prudent. "Union Minister for Finance and Corporate Affairs Smt. @nsitharaman interacts with the Secretaries and the senior officials involved in the Budget making process @FinMinIndia while giving final touches to the Union Budget 2025-26 at her office in North Block, in New Delhi, today," the finance ministry said in a post on X. Minister of State for Finance Pankaj Chaudhary also participated in the meeting, it said. The Budget will come in the backdrop of the GDP growth rate projected to fall to 4-year low of 6.4 per cent in the current financial year, close to its decadal average. The Economic Survey 2024-25 tabled by the Finance Minister in both Houses has estimated India's GDP growing in the range of 6.3-6.8 per cent in FY26, much lower than what is needed to become a developed country, and requires deregulation and reforms in areas like land and labour to stimulate growth. It indicated that India's world-beating growth is moderating and more needs to be done to achieve the near 8 per cent annual rate required to achieve the Viksit Bharat target by 2047. The 6.3-6.8 per cent growth rate in the 2025-26 financial year compares to an estimated 6.4 per cent growth in the current year ending March 31 -- the weakest since the pandemic -- and 8.2 per cent in the 2023-24 financial year.
11:26 AM

India will have above-average maximum temperatures in February, weather office says

India is set to see above-average temperatures in February after a warmer January, the weather office said on Friday, posing a risk to key winter-sown crops such as wheat, rapeseed and chickpea.
 
Maximum and minimum temperatures in most parts of the country would be above-average in the month, Mrutyunjay Mohapatra, director-general of the India Meteorological Department (IMD) told a virtual news conference.
10:51 AM

Fiscal deficit for April-December at 56.7% of full-year target, shows govt data

Net tax receipts for the first nine months of the current financial year were at 71.3 per cent of the annual target, the data showed.
9:27 AM

Sonia Gandhi calling President as 'poor thing' demeans high office, says BJP

The BJP on Friday latched on to former Congress president Sonia Gandhi's reaction to President Droupadi Murmu's address to both Houses of Parliament, alleging the Congress leader referring to the President as a "poor thing" demeans the high office and reflects her feudal mindset.
9:24 AM

1984 Anti Sikh riots: Court reserves order in case against Sajjan Kumar

The Rouse Avenue court reserved its order on judgment in a case against Former Congress MP Sajjan Kumar. This case is related to the killing of the father-son duo in the Saraswati Vihar area on November 1, 1984. Special judge Kaveri Baweja reserved the order after hearing additional submissions by the Public Prosecutor Manish Rawat.

9:11 AM

Judicial probe commission reaches Prayagraj, may visit Kumbh stampede spot

A three-member judicial commission set up by the Uttar Pradesh government to probe the Maha Kumbh stampede reached Prayagraj on Friday, an official said. The panel is headed by Harsh Kumar, a retired judge of the Allahabad High Court, and comprises former director general of police (DGP) V K Gupta and retired IAS officer D K Singh.
8:59 AM

BJP constitutes panel to probe vandalism of Ambedkar's statue in Amritsar

Bharatiya Janata Party constitutes a 6-member panel which will visit Amritsar to probe the incident of vandalism of the statue of Dr BR Ambedkar. The panel will submit its report to party president JP Nadda.
8:46 AM

Delhi Assembly polls: Every Delhi family saves Rs 25K per month due to AAP's schemes, says Kejriwal

Every household in Delhi saves an average of Rs 25,000 a month due to the AAP government's welfare schemes and if the party returns to power, its new initiatives will add another Rs 10,000 to people's savings, party supremo Arvind Kejriwal said on Friday. The former chief minister was speaking at the launch of the AAP's 'Bachat Patra' campaign here, aimed at highlighting the financial benefits of the schemes brought by his party's government.
8:40 AM

36-year-old man dies from suspected Guillain-Barre syndrome in Pune

A 36-year-old male from Pimplegurav, who worked as an Ola-Uber driver, was admitted to Yashwantrao Chavan Hospital on January 21 due to suspected Guillain-Barre Syndrome (GBS). The patient's health deteriorated, and he passed away on January 30, 2025, according to a press note issued by the health department of Pimpri Chinchwad Municipal Corporation on Friday.

8:09 AM

ECI has said it will investigate entire matter, says Sanjay Singh on Yamuna poison row

After AAP chief Arvind Kejriwal, Atishi and Bhagwant Mann met the Election Commission of India (ECI), Aam Aadmi Party (AAP) MP Sanjay Singh on Friday said that the commission has said that it will investigate the entire matter with facts and then make some decision. Singh said, "Arvind Kejriwal has told the entire chronology about the BJP's conspiracy to poison the water coming to Delhi to the Election Commission. The commission has said that it will investigate the entire matter with facts and then make some decision."

7:57 AM

Indian Youth Congress workers hold a protest against Arvind Kejriwal in Delhi

Indian Youth Congress workers hold a protest against AAP national convener Arvind Kejriwal in Delhi over the Yamuna water issue.
7:41 AM

Arvind Kejriwal claims victory, says ammonia levels in Yamuna dipped after AAP raised issue

AAP convenor Arvind Kejriwal congratulated the people of Delhi for the success of their 'struggle' to stop the flow of contaminated water. Taking to X, he said that ammonia levels in the water dropped from 7 ppm to 2 ppm, saving Delhi from a potential water crisis.

7:30 AM

Saif stabbing case: Arrested accused's facial recognition tests positive, says police

Mumbai Police say, Arrested accused Mohammad Shariful Islam Shehzad's facial recognition tested positive. As per the test, the person in CCTV footage and Mohammad Shariful Islam Shehzad are confirmed to be the same person.
7:24 AM

Supreme Court refuses to entertain PIL against special treatment for VIPs in temples

The Supreme Court on Friday refused to entertain a PIL against the practice of charging an additional fee for "VIP darshan" and according of preferential, selective and special treatment to a certain class of people in temples. A bench comprising Chief Justice Sanjiv Khanna and Justice Sanjay Kumar said it was for the society and temple management to decide the issue and the court cannot pass any direction.

6:50 AM

18th PBD big success, MEA looks forward to partnering with Odisha for more such events: Jaishankar

External Affairs Minister S Jaishankar has said his ministry is looking forward to partnering with the Odisha government for organising events like the Pravasi Bharatiya Divas (PBD) in future. In a letter to to Odisha Chief Minister Mohan Charan Majhi, Jaishankar congratulated the state government for making the recently held 18th PBD in Bhubaneswar a resounding success. My ministry looks forward to partnering with Odisha for organising similar events in the future, he said.

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First Published: Jan 31 2025 | 8:34 AM IST

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