BVR Subrahmanyam, CEO of NITI Aayog, hailed the fiscal plan of Union Budget 2025-26 as ‘outstanding’ and a catalyst for accelerating India’s growth. Subrahmanyam pointed to the fine print, noting that India’s gross domestic product (GDP) is projected to exceed $4 trillion next year—approximately ₹357 lakh crore, translating to $4.1 trillion. “The Budget has been a very finely balanced act. They have addressed both the consumption side as well as the supply side. That is remarkable,” he added.Subrahmanyam also emphasised the fiscal discipline maintained in the plan, highlighting a fiscal compression of about ₹2.5 lakh crore through reduced revenues and a cut in the fiscal deficit, along with significant tax giveaways to the middle class.“We must compliment the finance ministry, the finance minister and the team working with her to produce a Budget like this,” he concluded.
Also Read | Budget 2025: Fiscal deficit for FY26 estimated to be 4.4% of GDP, says FM Nirmala SitharamanThe budget presentation, delivered by Finance Minister Nirmala Sitharaman on Saturday, February 1, concluded on a positive note for the middle class. Among the key announcements, the Finance Minister declared that no income tax would be payable for individuals earning up to ₹12 lakh annually. She raised the annual threshold for TDS on rent from ₹2.40 lakh to ₹6 lakh, a move aimed at benefiting small taxpayers receiving lower rent payments.Also Read | Budget 2025: The big sectoral winners and losersTogether, these measures and the overall fiscal strategy were designed not only to boost consumption but also to strengthen the supply side of the economy, setting the stage for robust, inclusive growth in the coming years.For the full interview, watch the accompanying videoCatch all the latest updates from the Union Budget 2025-26 here
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