Bhubaneswar (Odisha) [India], February 1 (ANI): Chartered Accountant AK Sabat on Saturday expressed optimism about the Union Budget 2025 saying that this year’s budget will be extraordinary and will be better than the 1991 and 1997 budgets, which were considered dream budgets.
Speaking to ANI, Sabat said, “Today Madam Sitharaman will present the budget, which is a dream for many as there is a strong hope that it (Budget 2025) will be better than the 1991 and 1997 budgets, which were considered dream budgets. But in Modi 3.0, our dream is that today’s budget will be extraordinary.”
“Yesterday, Modi ji mentioned that he has prayed to Maa Mahalakshmi for the poor and middle class to get great benefits. When he mentioned this prayer, our hopes increased. We expect the government to take good care of the aspirations and expectations of the people,” the charted accountant added.
Union Finance Minister Nirmala Sitharaman is set to present her record 8th consecutive budget today at 11 am in the Lok Sabha. The budget speech will outline the government’s fiscal policies, revenue and expenditure proposals, taxation reforms, and other significant announcements.
On Friday, the Economic Survey tabled in Parliament projected India’s economy to grow between 6.3 per cent and 6.8 per cent in the next financial year 2025-26.
The survey tabled a day before the union budget, highlights that the country’s economic fundamentals remain strong, supported by a stable external account, fiscal consolidation, and private consumption.
It noted that the government plans to strengthen long-term industrial growth by focusing on research and development (R&D), micro, small, and medium enterprises (MSMEs), and capital goods. These measures aim to enhance productivity, innovation, and global competitiveness.
“The fundamentals of the domestic economy remain robust, with a strong external account, calibrated fiscal consolidation and stable private consumption. On the balance of these considerations, we expect that the growth in FY26 would be between 6.3 and 6.8 per cent,” it said.
The survey noted that food inflation is expected to ease in Q4 FY25 due to the seasonal decline in vegetable prices and the arrival of the Kharif harvest. A good Rabi production is also expected to help keep food prices in check in the first half of FY26. However, adverse weather conditions and rising international agricultural prices pose risks to inflation. (ANI)
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