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India’s Nuclear Energy Expansion: Russia, France, and the US Eye Small Modular Reactors

India’s Nuclear Energy Expansion: Russia, France, and the US Eye Small Modular Reactors India's growing energy needs have led to increased global interest in its nuclear energy sector. Russian nuclear giant Rosatom has proposed offering India its expertise in developing small modular reactors (SMRs), which could be installed in coastal areas. This potential collaboration aligns with India's goal of achieving 100 gigawatts (GW) of nuclear energy by 2047. Russia's Role in India's Nuclear Ambitions Rosatom, a leading player in the global nuclear industry, has been involved in India's nuclear energy sector for years. It is currently constructing the Kudankulam Nuclear Power Project and has decades of experience in SMR technology. The company has already developed operational SMRs and previously offered India assistance in building small tropical nuclear power stations. These stations could be localized to include Indian-built components. In 2024, Rosatom signed an a...
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Union Budget 2025 Live Updates: Nirmala Sitharaman Presents Modi 3.0’s First Full-Year Budget

Union Budget 2025 Live Updates: Nirmala Sitharaman Presents Modi 3.0’s First Full-Year Budget

Finance Minister Nirmala Sitharaman is set to present her eighth consecutive Union Budget on February 1, 2025. She arrived at the Rashtrapati Bhavan to meet President Droupadi Murmu before heading to Parliament. The budget is expected to focus on tax relief and economic growth, aiming to balance fiscal prudence with development goals.

Sitharaman’s Budget Priorities

With India's GDP projected to grow between 6.3% and 6.8% in FY26, the Economic Survey emphasizes reforms in land, labor, and regulations to achieve the long-term vision of "Viksit Bharat" by 2047. The Finance Minister will present a digital budget using a tablet enclosed in a traditional ‘bahi-khata’ pouch, continuing a practice she introduced in 2019 to replace the colonial-era budget briefcase.

Stock Market Reacts

The Indian stock market opened positively ahead of the budget announcement. The BSE Sensex rose by 136.44 points to 77,637.01, while the Nifty 50 gained 20.2 points, reaching 23,528.60.

Public Expectations and Economic Outlook

The middle class hopes for tax cuts, as both PM Modi and President Murmu have acknowledged their contributions. Sitharaman’s budget may include tax relief measures to increase disposable income and boost consumption. The Economic Survey also highlights the importance of supporting India’s space sector, which could receive more funding to solidify India’s position in global space exploration.

Budget Presentation and Parliamentary Process

After being presented in the Lok Sabha, the budget will be discussed in both Houses of Parliament, followed by scrutiny by Department Standing Committees. The final approval process involves voting on Demands for Grants and passing the Appropriation and Finance Bills.

Old vs. New Tax Regime

The government introduced a new tax regime in 2020 with lower rates but fewer exemptions. Under the old system, deductions like 80C (₹1.5 lakh), 80D (health insurance), and HRA were available, whereas the new system offers a simplified structure with a higher standard deduction. Last year, the standard deduction was increased by ₹25,000, bringing it to ₹75,000.

Union Budget’s Significance

The budget is the government’s annual financial roadmap, detailing revenue and expenditures for the coming fiscal year. Sitharaman's speech will outline key policies affecting taxation, infrastructure, and welfare. The Economic Survey warns of slowing economic growth, forecasting a decline from 8.2% in FY24 to 6.3%-6.8% in FY26, which could impact India's goal of becoming a developed nation by 2047.

Corporate Sector and Leadership Development

Corporate India is also focused on developing future leaders through talent management strategies. High-potential employees are being nurtured to take on critical roles, aligning with evolving business needs.

Key Highlights from the Economic Survey

The Economic Survey notes excess liquidity in the financial system and projects that India's economic fundamentals remain strong despite a slowdown. With stable private consumption and fiscal consolidation, the government aims to maintain economic resilience.

What to Expect

The budget may introduce new tax measures to simplify compliance and provide relief to salaried individuals. Measures to boost private investment, encourage consumption, and strengthen infrastructure development are also expected.

The budget presentation will begin at 11 a.m. Stay tuned for further updates as the announcements unfold.

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