Budget 2025-26 Highlights
- Budget Overview
- Presented by Finance Minister Nirmala Sitharaman for the 8th time on February 1.
- Nirmala Sitharaman holds the record for the longest budget speech (2020).
- Historical Budget Facts
- First budget in India: James Wilson (1860).
- First post-independence budget: K. Shanmukham Chetty.
- First Republic India budget: John Mathai.
- Most budgets presented: Morarji Desai (10 times).
- First female to present budget: Indira Gandhi.
- First full-time female Finance Minister: Nirmala Sitharaman.
- Developed India (Viksit Bharat) Vision
- Freedom from poverty.
- 100% schooling.
- Affordable and accessible health facilities.
- 100% skilled workforce.
- 70% women's participation in economic activity.
- India as the "Food Basket of the World."
- Journey of Budget 2025-26
- Destination: Developed India.
- Guidance: Inclusivity (Samaveshta).
- Fuel: Reforms.
- Four Engines: Agriculture, MSME, Investment, Export.
- Key Initiatives by Sector
- Agriculture
- PM Dhan-Dhanya Krishi Yojana: Launched in 100 districts to boost agricultural productivity, aiming to benefit 1.7 crore farmers.
- Pulses Self-Sufficiency Mission: A 6-year mission focusing on Tur (Arhar), Urad, and Masoor pulses.
- Missions initiated for vegetables, fruits, and Shree Anna (millets). (2023 was the International Year of Millets).
- Makhana Board: To be established in Bihar.
- National High-Yield Seed Mission.
- Cotton Production Mission: A 5-year mission to enhance quality cotton production for the textile industry.
- Kisan Credit Card (KCC) Limit: Increased from ₹3 lakh to ₹5 lakh.
- Urea Plant: To be established in Namrup, Assam, with a production capacity of 12.7 lakh metric tons.
- MSME (Micro, Small, Medium Enterprises)
- Revised MSME Definition:
- Investment: Micro (up to ₹2.5 crore), Small (up to ₹25 crore), Medium (up to ₹125 crore).
- Turnover: Micro (up to ₹10 crore), Small (up to ₹100 crore), Medium (up to ₹500 crore).
- Credit Card for Micro Enterprises: A special ₹5 lakh credit card launched via the Udyam Portal.
- National Manufacturing Mission: To promote manufacturing in footwear, toys, and food processing industries.
- Revised MSME Definition:
- Investment & Education
- Atal Tinkering Labs: 500 labs to be established in government schools over the next 5 years to foster interest in Science, Technology, Engineering, and Mathematics.
- Bharatiya Bhasha Pustak Scheme: To provide digital books in Indian languages for school and higher education.
- National Skill Excellence Centers: Five centers of excellence to be established for "Make for India, Make for the World."
- AI Excellence Center: ₹500 crore allocated to promote Artificial Intelligence in education.
- Health & Social Welfare
- Cancer Care: Cancer medicines made more affordable. Day Care Cancer Hospitals to be established in all district hospitals within 3 years.
- Jal Jeevan Mission: Extended until 2028 (originally planned for 2024).
- Infrastructure
- Maritime Development Fund: 49% government contribution.
- UDAN Scheme: Aims to connect 120 new destinations in the next 10 years.
- Greenfield Airport: To be established in Bihar.
- West Kosi Canal Project: To be developed in Mithilanchal, Bihar.
- Exports
- Bharat Trade Net Platform: Launched to enhance supply chain efficiency in exports.
- Agriculture
- Reforms
- Insurance Sector FDI Limit: Increased from 74% to 100%.
- Taxation
- Fiscal Deficit (as % of GDP): Estimated at 4.8% for 2024-25 and 4.4% for 2025-26.
- Life-Saving Drugs: Tax removed on 36 life-saving drugs (for rare diseases, cancer, etc.).
- New Income Tax Regime: A new Income Tax Bill introduced, replacing the 1961 bill.
- Revised Tax Slabs (New Income Tax Regime):
- Up to ₹12 lakh: Tax-free.
- ₹0-4 lakh: 0%
- ₹4-8 lakh: 5%
- ₹8-12 lakh: 10%
- ₹12-16 lakh: 15%
- ₹16-20 lakh: 20%
- ₹20-24 lakh: 25%
- Above ₹24 lakh: 30%
- Revenue & Expenditure
- Top 3 Revenue Sources ("Rupee Kahan Se Aata Hai"):
- Loans/Market Borrowing: 24%
- Income Tax: 22%
- GST: 18%
- Top 2 Expenditure Areas ("Rupee Kahan Jata Hai"):
- States' share in taxes/duties: 22%
- Interest Payments: 20%
- Top 4 Sectoral Spending Priorities:
- Defence
- Rural Development
- Home Ministry
- Agriculture
- Top 3 Revenue Sources ("Rupee Kahan Se Aata Hai"):
Nobel Prizes 2025
- Literature Nobel Prize 2025
- Awarded to Hungarian writer László Krasznahorkai.
- Recognized for "hypnotic work that, with an impressive artistic depth, unravels the terrifying absurdities of human existence" (interpreted as using art to calm terror amidst pervasive terror).
- His first novel, "Satan Tango" (1985), focused on a broken rural community.
- First Literature Nobel (1901): Sully Prudhomme.
- First Asian to win Literature Nobel: Rabindranath Tagore (1913) for "Gitanjali."
International Relations & Treaties
- New START Treaty
- Agreement between Russia and the USA, originally signed as START in 1991 (implemented 1994).
- Full form: Strategic Arms Reduction Treaty, aimed at reducing strategic arms (e.g., nuclear weapons).
- Updated to "New START" in 2011.
- Extended by one year, now valid until 2026, after Russia had previously suspended its participation.
- Objective: To ensure adherence to limits on nuclear weapons (Russia and USA possess 87% of the world's nuclear arsenal).
- Related: Nuclear Non-Proliferation Treaty (NPT), 1968, which India has not signed.
- Diwali as State Holiday in California
- California has become the third US state to declare Diwali a state holiday, following Pennsylvania and Connecticut.
- Governor of California: Gavin Newsom.
- International Convention Center in Madhya Pradesh
- An MoU was signed between Madhya Pradesh and Fira Barcelona International (Spain) to establish an international-level convention center in Bhopal.
- UPI Adoption
- Qatar is the 8th country to adopt India's Unified Payments Interface (UPI).
- PayPal has adopted India's UPI as its global payment system.
Military Exercises
- Indra 2025
- Joint military exercise between India and Russia.
- Held at Mahajan Field, Bikaner, Rajasthan.
- Focuses on anti-terrorism, started in 2003.
- Other Exercises in Rajasthan
- Bold Kurukshetra: India and Singapore.
- Sarad Hawa: Border Security Force (BSF) on the India-Pakistan border.
- Cyclone: India and Egypt.
- Amogh Fury: India.
- India-France Exercises: Varuna, Garuda, Shakti.
- Maitri Exercise: India and Thailand.
National Initiatives & Infrastructure
- Gyan Bhartam Mission
- To conserve over 1 crore manuscripts.
- Electric Truck Battery Swapping Station
- India's first electric truck battery swapping station inaugurated by Union Road Transport & Highways Minister Nitin Gadkari in Sonipat, Haryana.
- Gadkari also encouraged farmers to convert crop stubble into fuel (bio-bituminous) and road material (used in Nagpur and Jabalpur), and to grow maize for ethanol production (20% ethanol blending target achieved in 2025, ahead of 2030).
- Greenfield Airport
- To be established in Bihar.
- West Kosi Canal Project
- To be developed in Mithilanchal, Bihar.
- Makhana Board
- To be established in Bihar.
- Urea Plant
- To be established in Namrup, Assam, with a capacity of 12.7 lakh metric tons.
- India Scout and Guides Jamboree
- 19th Jamboree to be held in Uttar Pradesh (18th was in Pali Rohat, Rajasthan).
- Asia's Largest Railway Operation Command Center
- Inaugurated in Sabarmati, Gujarat.
- WhatsApp Governance Model 'Manmitra'
- Launched by Andhra Pradesh for government services.
- LEAP Program
- Karnataka launched the ₹1000 crore LEAP Program to promote innovation.
- Dhruv Portal
- Launched by the AYUSH Ministry to provide accurate information on Ayurveda, Yoga, Unani, Siddha, and Homeopathy.
- DRDO Rail-Based Mobile Launcher
- DRDO successfully tested a rail-based mobile launcher system for the Agni Prime missile.
- GST Appellate Tribunal
- Sanjay Kumar Mishra appointed as the first Chairman.
- Integrated Neural Rehabilitation Center 'Prayas'
- Launched by the AYUSH Ministry in Goa.
- First Marine Simulation Center
- Inaugurated by Union Minister Sarbananda Sonowal in Chennai.
- Natural Gas Discovery
- Petroleum and Natural Gas Ministry announced discovery of natural gas in the Andaman Basin.
- International Convention Center
- Madhya Pradesh to establish an international-level convention center in collaboration with Fira Barcelona International (Spain).
- Gokul Reservoir and Udaipur Lake
- Included in the list of Ramsar sites (total 93 in India), located in Bihar.
- Bidar District
- Karnataka's Bidar district received the top award for water conservation and public participation under the Jal Shakti Abhiyan.
- AI Excellence Center
- IIT Madras nominated as a UN AI Excellence Center.
- Jal Jeevan Mission
- Extended until 2028.
- 6th River Festival
- Held in Delhi.
- Indian Air Force Foundation Day
- 93rd Foundation Day celebrated at Hindon Airbase, Ghaziabad.
- Sabki Yojana Sabka Vikas
- Initiative of the Panchayati Raj Ministry.
Discoveries & Science
- Human-Faced Pillar in Turkey
- A 12,000-year-old T-shaped stone pillar with a human-like face (deep eyes, wide nose) was discovered at the Karatapei site in Turkey under the "Stone Hill Project."
- Turkey (Türkiye) has its capital at Ankara, is known as the "Sick Man of Europe," uses the currency Lira, and hosts Van Gölü Lake (world's saltiest) and the Anatolian Plateau (Asia Minor Plateau).
- Phosphine Discovery on Brown Dwarf Wolf 1130 c
- The James Webb Space Telescope detected phosphine (PH3) molecules in the atmosphere of Wolf 1130 c, a brown dwarf.
- Phosphine is a highly toxic gas but its presence can indicate biological processes, as observed on Earth and Venus, suggesting potential for life.
- James Webb Space Telescope: Launched in 2021 by NASA (USA), Canadian Space Agency, and European Space Agency; it is the world's largest infrared telescope, replacing the Hubble Telescope.
- Related: AstroSat observatory was launched by PSLV C30 in 2015.
- Nuclear Weapons Science
- Nuclear Bomb: Invented by J. Robert Oppenheimer, works on Nuclear Fission.
- Hydrogen Bomb: Invented by Edward Teller, works on Nuclear Fusion.
- Sun: Works on Nuclear Fusion.
Awards & Recognition
- CEAT Cricket Lifetime Achievement Award 2025
- Awarded to Brian Lara (West Indies) and Bhagwat Chandrasekhar (India).
- Special Commendation: Rohit Sharma (for T20 World Cup and Champions Trophy wins).
- Best Male Cricketer of the Year: Joe Root (England).
- Best Female Cricketer of the Year: Smriti Mandhana (India).
- Ballon d'Or 2025 (Female)
- Awarded to Aitana Bonmatí.
- Living Bridge Award (India-Britain FTA)
- Awarded to Keir Starmer (UK Prime Minister).
- National E-Governance Award 2025
- Awarded to Rohini Gram Panchayat (Maharashtra) for leading digital service delivery. (National E-Governance Conference was held in Visakhapatnam).
- UWEP Young Champions of the Earth Award 2025
- Awarded to Jinani Modi (from Maharashtra).
- Change Maker of the Year Award
- Awarded to DRDO for indigenous technology.
Important Days & Observances
- World Post Day 2025: October 9. Hashtag: #PostForPeople.
- The 28th Universal Postal Union Conference was held in Dubai, UAE (September 2025).
- World Vision Day: October 9. Raises awareness about eye defects.
- Corrective lenses: Hypermetropia (farsightedness) - Convex lens; Myopia (nearsightedness) - Concave lens.
- Other October Observances:
- October 1: World Elderly Day, World Coffee Day.
- October 2: International Day of Non-Violence.
- October 7: World Nilgiri Tahr Day, World Cotton Day.
- October 8: Air Force Day.
- October 2-8: Wildlife Week (focus on dolphin, sloth bear, gharial, etc.).
- World Heart Day: September 29.
- World Tourism Day: September 27.
Other Key Updates
- Kuno National Park
- India's first-born female cub, Mukhya (mother: Jwala), was born in Kuno National Park.
- BCCI Appointments
- New Chairman: Mithun Manhas.
- Secretary: Devjit Saikia.
- Attorney General of India
- R. Venkataramani's term as Attorney General was extended.
- Mig-21 Decommissioning
- The Mig-21 aircraft were decommissioned in a ceremony in Chandigarh; they are being replaced by Tejas aircraft.
- First World Seafood Congress
- Held in Chennai.
- FIFA 2026
- Mascot "Clutch" launched by USA (FIFA World Cup 2026 to be hosted by USA, Canada, and Mexico).
- IUCN World Biosphere Reserve Network
- Cold Desert in Himachal Pradesh has been included.
- Indian Air Force
- Its 93rd Foundation Day was celebrated at Hindon Airbase, Ghaziabad.
- National Crime Records Bureau (NCRB)
- Kolkata identified as India's safest city for cognizable offenses.
- Interpol Operation 'Hatchi'
- Conducted by Interpol in collaboration with CBI.
- Arctic Ocean Polar Silk Road
- China initiated the first journey on the Arctic Ocean Polar Silk Road.
- Yeshwant Verma Corruption Investigation
- Lok Sabha Speaker formed a three-member committee to investigate corruption allegations against Yeshwant Verma.
Book Launches
- "Above and Beyond"
- Authored by Shiv Kumar Mohanka.
- Launched by Union Aviation Minister Ram Mohan Naidu in Delhi.
- The book details the entire airport-to-landing process, preparations, and operational factors behind each flight.
- "Mere Baad Arajakta" (After Me Chaos)
- Authored by M.J. Akbar (former Union Minister and journalist).
- Explores the connection between astrology and Mughal rule.