While keeping the fiscal deficit under control, Modi informed that the total expenditure has witnessed a historic increase to Rs 11,11,111 crores in this budget. In economic terminology, he described it as a “sweet spot”

In her previous Budget, Sitharaman had introduced five major announcements on personal income tax to benefit the middle class. She reiterated the option for taxpayers to choose between the new and old tax regimes, proposing an increase in the rebate limit from Rs 5 lakh to Rs 7 lakh in the new tax regime.

The latest monthly economic review from the finance ministry forecasts India's GDP to surge to USD 5 trillion from the current USD 3.7 trillion, positioning it as the world's third-largest economy within three years.

Despite variations in expenditure, the fiscal deficit remained a critical concern over the years. In 2023-24, the revised fiscal deficit almost mirrored the previous year's figure, indicating challenges in managing expenditure against receipts.

President Murmu reflected upon India's significant accomplishments, including the passage of the Women's Reservation Bill, the nation's ascent to the fifth largest economy globally, the successful Chandrayaan-3 mission, and India's hosting of the G20 Summit.