New Delhi: For decades, the Union Budget speech has followed a familiar script. But this year could mark a significant shift. In a departure from a 75-year tradition, Finance Minister Nirmala Sitharaman is expected to use Part B of her Budget speech not just for tax proposals, but to outline a broader and more detailed vision for India’s economic future, according to a report by NDTV which cited sources.
Understanding Part A and Part B of the Budget
The Union Budget speech is divided into two key sections. Part A outlines the government’s broader policy initiatives and sector-specific strategies aimed at driving growth and development. Part B, on the other hand, deals primarily with taxation proposals, covering both direct and indirect taxes.
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Part B May Outline Broader Economic Roadmap
This year, Part B of the Budget speech is expected to go beyond routine tax announcements and present both short-term priorities and long-term goals as India moves deeper into the 21st century, sources said. The focus is likely to highlight India’s domestic strengths while laying out its global ambitions. Economists in India and abroad are closely tracking the developments, expecting a comprehensive roadmap rather than just incremental tax measures.
This will be Nirmala Sitharaman’s ninth consecutive Union Budget presentation. In her first Budget in 2019, she made headlines by replacing the traditional leather briefcase, long used to carry Budget documents with a red cloth-wrapped ‘bahi-khata’, symbolising a break from colonial-era practices. Like the past four years, this year’s Budget will also be presented in a paperless format, continuing the government’s push towards digitisation.
For the current fiscal, capital expenditure has been pegged at Rs 11.2 lakh crore. The government is expected to retain its strong focus on infrastructure and asset creation in the upcoming Budget, with estimates suggesting a 10–15 per cent increase in the capex target, especially as private sector investment continues to remain measured.
