Budget 2025-26 Key Highlights

Budget History

• First budget in India (1860): James Wilson (considered father of budget in India).
• First post-independence budget: K. Shanmukham Chetty.
• First budget of Republic India: John Mathai.
• Most budgets presented: Morarji Desai (10 times).
• First female to present budget: Indira Gandhi.
• First full-time female Finance Minister: Nirmala Sitharaman.
• Longest budget speech: Nirmala Sitharaman (2020).
• Nirmala Sitharaman: Presented the budget for the 8th time on February 1st.

Vision for Viksit Bharat (Developed India)

• Freedom from poverty.
• 100% schooling.
• Excellent, affordable, and accessible healthcare facilities.
• 100% skilled workforce.
• 70% women's participation in economic activities.
• India as the "Food Basket of the World."

Budget 2025-26 Strategy

• Destination: Viksit Bharat.
• Guidance: Inclusivity (Samaveshta).
• Fuel: Reforms.
• Four Engines: Agriculture, MSME (Micro, Small, Medium Enterprises), Investment, Export.

First Engine: Agriculture

• PM Dhan-Dhanya Krishi Yojana:
  • Launched in 100 districts to increase agricultural productivity.
  • Aims to benefit 1.7 crore farmers.
• Self-reliance in Pulses Mission:
  • 6-year mission focusing on Toor (Arhar), Urad, and Masoor pulses.
• Vegetables and Fruits Mission: Initiated.
• Shri Anna (Millets) Mission: Ongoing (2023 declared International Year of Millets).
• Makhana Board: To be established in Bihar.
• National High-Yield Seed Mission: Focus on high-yield variety seeds.
• Cotton Production Mission:
  • 5-year mission to promote 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.

Second Engine: MSME

• Revised MSME Definition (Based on Investment and Turnover):

  Category	Investment	Turnover
  Micro	Up to ₹2.5 crore	Up to ₹10 crore
  Small	Up to ₹25 crore	Up to ₹100 crore
  Medium	Up to ₹125 crore	Up to ₹500 crore

• Credit Card for Micro Enterprises:
  • ₹5 lakh limit, available on Udyam Portal.
• National Manufacturing Mission: To boost 'Make in India' in footwear, toy, and food processing sectors.

Third Engine: Investment

• Atal Tinkering Lab:
  • 500 labs to be established in government schools over 5 years.
  • Aims to foster interest in science, technology, and mathematics among students.
• Bharatiya Bhasha Pustak Scheme:
  • To provide digitally accessible books in local Indian languages for school and higher education.
• National Skill Excellence Centers:
  • Five centers to be established for skill development, promoting 'Make for India' and 'Make for the World'.
• AI in Education:
  • An Excellence Center for AI in education will be established.
  • ₹500 crore allocated for this initiative.
• Cancer Care:
  • Cancer medicines made more affordable.
  • A Day Care Cancer Hospital to be established in every district hospital within three years.
• Jal Jeevan Mission:
  • Extended until 2028 (originally planned till 2024).
• Marine Development Fund:
  • To be created with a 49% government contribution.
• Ude Desh ka Aam Nagrik (UDAN) Scheme:
  • 120 new destinations to be explored over the next 10 years to enhance regional air connectivity.
• Greenfield Airport: To be established in Bihar.
• West Kosi Canal Project: To be developed in Mithilanchal, Bihar.
• Gyan Bharatam Mission: To conserve over 1 crore ancient manuscripts.

Fourth Engine: Export

• Bharat Trade Net Platform: Launched to enhance supply chain efficiency in exports.

Reforms (as Fuel)

• Insurance Sector FDI Limit: Increased from 74% to 100%.

Tax Reforms

• Fiscal Deficit (as % of GDP):
  • 2024-25: Estimated at 4.8%.
  • 2025-26: Estimated at 4.4%.
• Life-saving Medicines:
  • Tax removed on 36 life-saving drugs for rare diseases, cancer, and other serious illnesses.
• New Income Tax Regime:
  • A new income tax bill will be introduced, replacing the 1961 bill.
• Tax Slab Changes:
  • Up to ₹12 lakh: Tax-free.
  • ₹0-4 lakh: 0% tax.
  • ₹4-8 lakh: 5% tax.
  • ₹8-12 lakh: 10% tax.
  • ₹12-16 lakh: 15% tax.
  • ₹16-20 lakh: 20% tax.
  • ₹20-24 lakh: 25% tax.
  • Above ₹24 lakh: 30% tax.

Government Revenue Sources (Rupaya Kahan Se Aata Hai)

• 1st: Borrowings (24%).
• 2nd: Income Tax (22%).
• 3rd: GST (18%).

Government Expenditure (Rupaya Kahan Jata Hai)

• 1st: States' share in taxes and duties (22%).
• 2nd: Interest payments (20%).

Sectoral Expenditure (Highest Spending)

• 1st: Defense.
• 2nd: Rural Development.
• 3rd: Home Ministry.
• 4th: Agriculture.

October 2025 Current Affairs (Revision)

• Economic Freedom Index 2025: India ranked 128th globally.
• First Cross-Border Rail Project (India-Bhutan): Between Kokrajhar and Gelephu.
• Best of India Mela: Inaugurated in Russia.
• AstroSat: Completed a decade of operation, launched by PSLV C30.
• Spice Route Initiative: Launched by Kerala to connect ancient ports and heritage sites.
• International Translation Day 2025: Celebrated on September 30.
• First Indian Boxing Federation: To be established in Chennai.
• Rabitrack River App (Puducherry): Related to rabies prevention.
• 31st M.S. Swaminathan Award: Awarded to Veerappan for environmental protection.
• Promise to Children Campaign (UNICEF): In collaboration with the ICC.
• Václav Havel Human Rights Prize: Awarded to Maksym Butkevych (Ukraine).
• "I Am Giorgia" Autobiography: Prime Minister Modi wrote the preface for Italy's Prime Minister Giorgia Meloni's autobiography.
• Huajiang Grand Canyon Bridge (China): World's highest bridge (2050 feet) inaugurated.
• First Slum-Free City in India: Chandigarh.
• First Child Marriage-Free District in India: Balod, Chhattisgarh.
• NCC Director General: Virendra Vash.
• International Day of Non-Violence 2025: Celebrated on October 2.
• Gaj Rakshak App: Launched by Bandhavgarh Tiger Reserve (Madhya Pradesh) for elephant monitoring.
• Time 100 Next List 2025: Yashasvi Jaiswal (only cricketer included).
• Global News Network's Global Tourism Award 2025: Awarded to Andhra Pradesh Tourism Department.
• Right Livelihood Award: Awarded to Julian Aguon, Emergency Response Rooms, and Justice For Myanmar.
• Anant Shastra System (Former Name): Quick Response Surface-to-Air Missile.
• Climate Activist Sonam Wangchuk Arrest: Related to Article 22 (preventive detention).
• Wheat Cultivation using Desert Soil Technology: First conducted in Rajasthan.
• UPSC Centenary Day: Celebrated on October 1, 2025.
• Payment Regulatory Board: 6-member board constituted by the Reserve Bank of India.
• Siphon-Operated Thermal Desalination System: Developed by Indian Institute of Science, Bengaluru, to convert seawater into potable water.
• Namo Van: Foundation laid by Union Environment Minister Bhupender Yadav in Haryana.
• Pandit Chhannu Lal Mishra: Classical Vocalist (deceased).
• ICC Men's T20 Batting Ranking: Abhishek Sharma achieved a new record with 931 rating points.
• World's Top 10 Most Populous Cities 2025: Tokyo secured the top spot.
• Mutual Legal Assistance Treaty (MLAT): Implemented between India and Singapore.
• ISSA Award 2025: India awarded for better work in Social Security.
• NIELIT Digital University Platform: Launched by the Ministry of Electronics and Information Technology.
• MSME Seva Parv 2025 (Virasat Se Vikas): Held in Uttar Pradesh.
• Union Bank MD & CEO: Ashish Pandey.
• Tata Airbus H125 Helicopter Final Assembly Line: To commence in Bemagal, Karnataka.
• Self-Reliance Mission for Pulses (2030-31): For Arhar, Urad, and Masoor.
• Tree Size Change in Amazon Forest: Attributed to carbon fertilization (Nature study).
• ISSF Junior World Cup 2025: India secured first place in the point table.
• Sane Takchi: Became Japan's first female Prime Minister.
• Cyclone Shakti: Named by Sri Lanka, affected Maharashtra and Gujarat.
• Namchik Namphuk Commercial Coal Mine: First commercial coal mine to be inaugurated in Arunachal Pradesh.
• Namo Semiconductor Laboratory: Approved for establishment at IIT Bhubaneswar.
• PM Setu Yojana: Announced by PM Modi to transform 1000 ITIs into advanced training centers.
• NatPolRex (National Level Pollution Response Exercise): Indian Coast Guard's 9th exercise, held in Chennai.
• Aapka Aapki Punji Aapka Adhikar Campaign: Launched by Union Finance Minister Nirmala Sitharaman in Gujarat.
• Mahajer Yojana: Launched by Union Minister Amit Shah in Goa to grant ownership rights to residents.
• World Teachers' Day 2025: Celebrated on October 5.
• Jubin G Garg Island: An island in Singapore named in tribute to the Assamese singer.
• Nobel Prize in Medicine 2025: Awarded to Brunko, Romesh Dal Sakaguchi.
• Konkan Exercise: Joint exercise between the Indian Navy and England.
• Mud Volcano Eruption: Erupted after 20 years on Barren Island.
• Cassini Spacecraft (NASA): Found new evidence of potential for life on Enceladus, a moon of Saturn.
• Loknayak D.B. Patil Airport: Related to Navi Mumbai.
• World's Highest Motorable Road (19400 ft): Constructed by BRO in Ladakh.
• 68th Commonwealth Parliamentary Conference: Held in Bridgetown, Barbados.
• First Cooperative-Operated Compressed Biogas and Potash Granule Project: Inaugurated in Kopergaon, Maharashtra.
• World Para Athletics Championship 2025: Indian contingent won 12 medals.
• "They Will Shoot You, Madam" (Book): Authored by Arvind Bhaveja.
• Nobel Prize in Physics 2025: Awarded to John Clark, Martinez.
• PM Sebastien Lecornu: Resigned and was reappointed as PM of France.
• India's First Cheetah Safari: To open in Kuno.
• National Mission Kamasoda (Camel Mission): Prepared by the central government to prevent the decline in the camel population.
• Global Fintech Fest 2025: Held in Mumbai.
• Mera Haos Chogma Festival: Celebrated in Manipur as a symbol of hill-valley unity.
• 69th National School Games: Inaugurated in Jammu & Kashmir.
• Srinivasa Ramanujan Award 2025: Awarded to Alexander Smith.
• World Cotton Day 2025: Celebrated on October 7.
• Viksit Bharat Buildathon Brand Ambassador: Shubhanshu Shukla.
• Ayush Congress 2025: To be held in Abu Dhabi.
• Indian Air Force 93rd Foundation Day: Celebrated in Ghaziabad.
• UPI's First Global Payment System Partner: PayPal.
• India's Third Gas Carrier Shivalik: Constructed in South Korea.
• India's Safest City 2023 (NCRB): Kolkata.
• Operation Hachi-6: Launched by Interpol in collaboration with the CBI.
• Polar Silk Road (Arctic Ocean): China initiated its first voyage on this route.
• Jan Yojana Abhiyan (Sabki Yojana Sabka Vikas): Launched by the Ministry of Panchayati Raj.
• Wildlife Week 2025 (India): Projects launched for Dolphin, Sloth Bear, and Gharial conservation.
• Nobel Prize in Chemistry 2025: Awarded to Kitagawa Rawson Yagi (Richard and Omar).
• Nobel Prize in Literature 2025: Awarded to Lars Jalk.
• New START Treaty: Between Russia and the USA.
• Indra 2025 (India-Russia Military Exercise): Started in Rajasthan.
• World Post Day 2025: Celebrated on October 9.
• Ancient Pillar with Human Head (12,000 years old): Discovered in Turkey.
• India's First Electric Truck Battery Swapping Station: Inaugurated by Union Minister Nitin Gadkari in Haryana.
• "Above and Beyond" (Book): Associated with Shiv Kumar Mohan.
• Phosphine Molecule Discovery: Found on Brown Dwarf Wolf 1130c by the James Webb Space Telescope.
• Fira Barcelona International Agreement: Signed with Madhya Pradesh for an International Convention Center.
• CEAT Cricket Lifetime Achievement Award 2025: Awarded to Bhagwat Chandrasekhar (Rohit Sharma received a special medal).
• Times Higher Education World University Rankings 2026 (Top Indian Institute): Indian Institute of Science, Bengaluru.
• Tidom Air Defense System: Announced by Taiwan.
• World's First Live Underwater Interview: Conducted by Palau.
• National Red List Road Map (India): Unveiled in Abu Dhabi.
• District Judge Recruitment: Supreme Court ordered direct recruitment competition for judicial officers with 7 years of experience.
• Meta Platforms Undersea Cable Project (Waterworth): India's landing sites chosen as Visakhapatnam and Mumbai.
• Wildlife Protection Act 1972 Amendment: Kerala became the first state to amend this act.
• SPARKX 4.0: Launched by the Ayush Ministry.
• World Mental Health Day: Celebrated on October 10.
• Nobel Peace Prize 2025: Awarded to Corona.
• World's First Dual Tower Solar Thermal Power Plant: Launched by China in the Gobi Desert.
• Patrick Harmini: Elected as the new President of Seychelles.
• World Migratory Bird Day: Celebrated on October 11.
• India's First Hypersonic Missile: Dhwani (achieved 6 Mach speed).
• IUCN Latest Member: Armenia.
• Pipparahwa Buddha Relics Exhibition: First-time exhibition held in Kalmykia Republic, Russia.
• Resarex 25 (Regional Search and Rescue Exercise): Conducted by the Indian Coast Guard in Karnataka.
• First Mental Health Ambassador (Central Health Ministry): Deepika Padukone.
• First Indian Fast Bowler with 50 Matches in All Formats: Jasprit Bumrah.
• Urban Development Year 2025: Declared by Gujarat.
• World's First Residential Museum for Stolen Cultural Objects: Launched by UNESCO.
• Austro Hind (India-Australia Joint Military Exercise): The 4th edition was held in Australia.
• Blue Flag Certification (5 Maharashtra Beaches): Awarded to Shrivardhan, Nagao, Harnai, Guhagar, and Ladghar.
• IUCN Canton and Mirror Award: First Indian team honored: Sonali Ghosh.
• Bloody Conflict on Durand Line: Ongoing between Afghanistan and Pakistan.
• WHO Southeast Asia Regional Committee 78th Session: Held in Colombo.
• World Disaster Risk Reduction Day: Celebrated on October 13.
• India's First Semiconductor Innovation Museum: Inaugurated in Hyderabad.
• Filmfare Award 2025 (Best Film): "Laapataa Ladies."
• Nobel Prize in Economics 2025: Awarded to Philip and Peter.
• First Country to Eliminate Mother-to-Child Transmission of HIV, Hepatitis B, Syphilis: Maldives.
• Google AI Hub: Launched in Visakhapatnam.
• Greenhouse Gas Emission Intensity Target Rules: Central government notified for 4 sectors.
• Vishwas Yojana: Launched by the Ministry of Labour and Employment to curb EPFO litigation.
• RBI Executive Director: Sonali Sengupta.
• Indigenous Anti-Drone Grid: Indian Army launched "Saksham."
• World Standards Day 2025: Celebrated on October 14.
• World Health Summit 2025: Held in Berlin.
• CM Flight Scheme for Global Careers: Scholarship program launched by Assam for students studying abroad.
• Right to Disconnect Bill: Kerala became the first state to introduce it.
• Global Hunger Index 2025: India ranked 102nd.
• IN ROCON (First Bilateral Exercise India-Korea Republic): Conducted with the Republic of Korea.
• Abel Prize (Mathematics Nobel) 2025: Awarded to Masaki Kashiwara.
• First DNA-based Elephant Census: Karnataka recorded the highest elephant population.
• IUCN Red List (Threatened Species): 48,646 species are on the verge of extinction.
• India Elected to UN Human Rights Council (UNHRC): Elected for the 7th time (uncontested).
• International Students' Day 2025: Celebrated on October 15.
• "Ready, Relevant & Resurgent-II" (Book): Authored by Anil Chauhan.
• 16th International Railway Equipment Exhibition: Inaugurated by the Union Railway Minister in New Delhi.
• 11th Asia Aquatic Championship (Ahmedabad): China topped the points table.
• Henley Passport Index 2025: India's passport ranked 85th.
• Samudra Shakti 2025 (India-Indonesia Naval Exercise): 5th bilateral exercise, held in Visakhapatnam.
• First Asian Chairman of IUCN Species Survival Commission: Vivek Menon.
• Cesium-137 Contamination (Aprion Blue Capsules Gift): India gifted to Indonesia.
• Raboo Bala Saraswati Devi (Deceased): First female playback singer of Telugu cinema.
• 30th Senior Women's National Football Championship (Rajmata Jijabai Trophy): Won by Manipur.
• First Joint Defense Cooperation Meeting (India-African Country): Held with Ethiopia.
• Miniratna Public Sector Undertaking (PSU) Status: Granted to Hindustan Shipyard.
• World Food Day 2025: Celebrated on October 16.
• Major Mineral Classified by Ministry of Mines: Limestone.
• Henrich IMD Sustainable Trade Index 2025: India ranked 23rd.
• SAIME Aquatic Culture Model: Recognized by FAO, associated with the Sundarbans.
• 3rd India-Central Asia Security Council Meeting: Held in Bishkek (Kyrgyzstan's capital).
• First Tejas LCA Mk-1A Unveiling: By Union Defense Minister Rajnath Singh in Nashik.
• SITA (Scheme for Innovation and Technology Associate with Aadhaar): Launched by UIDAI.
• First State to Launch Menstrual Leave: Karnataka (for both government and private sectors).
• A.R. Rahman's Secret Mountain Band: Partnered with Google Cloud to launch.
• International Day for the Eradication of Poverty: Celebrated on October 17.
• ICC Player of the Month September 2025: Abhishek Sharma and Smriti Mandhana.
• Safest Bank in Asia (Global Finance, New York): DBS Bank.