India plans to cut personal income tax rates to boost middle-class spending power and seeks to increase private investment to strengthen growth, the 2025-26 budget showed on Saturday.

India’s GDP is projected to expand 6.3%-6.8% in FY26, according to the Economic Survey, much below the level needed to become a developed nation by 2047. The economy needs to grow at about 8% for about a decade or two to achieve that goal.

INDIA bloc criticised Budget 2025, highlighting stagnant wages, low consumption, and a complicated GST system, claiming it fails to address key economic issues.

Union Finance Minister Nirmala Sitharaman will present the union budget on February 1. Check budget expectations by education industry experts