The Union Budget is usually presented by Finance Minister Nirmala Sitharaman every year. However, the budget will be announced twice this year due to Lok Sabha Elections.According to Article 112 of the Indian Constitution, the Union Budget of India is the comprehensive annual financial statement on the government's capital, revenue, and expenditures. The term "budget" is taken from the old French word "Bougette" which means bag or wallet.In 1860, income tax was introduced by James Wilson in India. You can read about the Tax Administration Reform Commission – TARC Mandate, Report, Recommendations in the given link. Further readings: Tax Policy Council & Tax Policy Research Unit: Notes for UPSC.

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Real estate developers are looting FIs. Put Governance

Public money is spent to provision free food, free stay, free education, monthly stipend, free books , then Govt employment and continuous promotions till retirement, then handsome pension to certain cateogories of Citizens . So at the cost of public money , most of these categories of people have become super rich for over 4 decades . What a logic !

Simplification of tax structure is the ask to regain economy growth. There should be only 2 slabs in Income tax. Above 10L and less then 30L - 10 % and 30L and above - 25%. No exemptions of any sort including agricultural income. Each and every citizen who are falling in tax bracket will have to file returns and pay taxes. GST only 2 slabs. Essential and non-essential. Essential food and housing 5% and non-essential - 12%. Interest on fixed deposit should be tax free while capital gain be it short term or long term to be charged at 10% straight. No more exemptions or exclusions. Anyone who is receiving more then 20L in their accounts in FY should be liable to file returns. This well help to get maximum citizen covered. Simplification will help to attract more and more user to pay taxes and exemptions avoidance will live no room for any individuals to escape from accumulating black money. Banks cannot disburse more then 10K cash per day against one account to avoid cash transactions.

To drive inclusive growth in the 2025-26 Budget, focus on skill development, healthcare, and sustainability. Implement a National Skill Program targeting rural youth, emphasizing AI, green technology, and entrepreneurship. Enhance healthcare by establishing telemedicine hubs in underserved regions through public-private partnerships. Expand PM-Kisan to include fisheries and poultry, and develop a Digital Farmers' Market Platform for direct sales. For the middle class, increase the standard deduction limit and offer incentives for renewable energy adoption. Support startups with a Women Entrepreneurs Fund, providing seed capital and tax holidays. Introduce a Green MSME Credit Scheme to encourage eco-friendly practices among small businesses. These initiatives can propel India toward a more equitable and resilient future.

Since tax introduced on packed foods, departmental stores started jimmick of packing banana and collect 3 percent tax. Who knows this 3 percent going where ?

Salaried are paying taxes 20 to 33 percent of the salary , another 7 to 8 percent in monthly purchases , means total of 45 percent for higher bracket employees. When these employees enter turbulence due to employment uncertainty , what Country gives back ?

Some rich Indians abroad have not paid credit card bills in India . Tackle such behabiour

Public money is spent for political gains. Bring accountability for tax payers money