Ahead of the presentation of the Union Budget in Parliament, Karnataka Chief Minister Siddaramaiah urged the Centre to recognise the state's contribution and ensure 'just and proportional' resource distribution. He also slammed the Union government over its 'discriminatory approach' towards Karnataka.

Stating that Karnataka has already submitted its list of demands to the Centre, Siddaramaiah said, "The discriminatory approach of the Union government towards Karnataka is well known. For our federal system to remain strong, the Centre must adopt a fair, transparent, and unbiased policy towards all states." "Instead of treating states merely as revenue-generating units, the Centre must respond to their financial challenges with fairness and empathy. When it comes to resource allocation, including tax devolution, the Centre must follow scientific and equitable standards," he said in a statement.

The Swachh Bharat Mission signifies a fundamental transformation in India's pursuit of universal sanitation access and has revolutionised the hygiene practices of a substantial portion of the population, the Economic Survey said.

"The Swachh Bharat Mission, launched in 2014, signifies a fundamental transformation in India's pursuit of universal sanitation access and has revolutionised the hygiene practices of a substantial portion of the Indian population. The Swachh Bharat Mission 2.0 integrates comprehensive waste management and sanitation practices aligned with sustainability and circular economy principles," the survey said.

India has to be prepared to take advantage of the conducive global situations to grow at a faster pace to achieve the goal of becoming a developed nation by 2047, Chief Economic Adviser V Anantha Nageswaran said on Friday.

Nageswaran attributed the slowdown in India's economic growth to global factors.

According to the Economic Survey, India needs to grow at 8 per cent for up to two decades to become a developed nation by 2047.

Addressing a press conference after tabling of the Economic Survey 2024-25, he said the current relative slowdown in the Indian economy should be seen in context and 'India still remains the fastest growing large economy in the world'.

Union Finance Minister Nirmala Sitharaman interacted with the secretaries and senior officials involved in the Budget making process.

Union Minister for Finance and Corporate Affairs Smt. @nsitharaman interacts with the Secretaries and the senior officials involved in the Budget making process @FinMinIndia while giving final touches to the Union Budget 2025-26 at her office in North Block, in New Delhi, today.… pic.twitter.com/lXjk64WGsO

— Ministry of Finance (@FinMinIndia) January 31, 2025

India must "pull out all the stops" and improve tax certainty and stability to attract more foreign direct investments (FDI) into the country, the Economic Survey said. 

It said that despite the short-term volatility in global markets, triggered by factors such as inflationary pressures, rising interest rates in developed economies, and geopolitical tensions, the long-term outlook for FDI in India remains favourable.

The country's robust economic fundamentals, ongoing structural reforms, and growing consumer market position make it a key destination for foreign investments.

"One, we must pull out all the stops wooing FDI and making itself more attractive for foreign investors. India has been doing so," the survey said.

Though school dropout rates have steadily declined in recent years, challenges persist with retention rates in school education for all classes, according to the Economic Survey 2024-25 tabled in Parliament on Friday.

"School dropout rates have steadily declined in recent years, standing at 1.9 per cent for primary, 5.2 per cent for upper primary and 14.1 per cent for secondary levels. However, challenges persist, with retention rates at 85.4 per cent for primary (class 1 to 5), 78 per cent for elementary (classes 1 to 8), 63.8 per cent for secondary (classes 1 to 10) and 45.6 per cent for higher secondary (classes 1 to 12)," the survey said.

Retention rate is the percentage of a cohort of pupils enrolled in the first grade of a given level of education in a given school year and who are expected to reach the last grade of the level.

Amid row over Congress leader Sonia Gandhi's remarks about President Droupadi Murmu after the latter's Parliament address today, Priyanka Gandhi has come to her mother's defence, insisting that the comments were being misinterpreted. 

"My mother is a 78-year-old lady, she has simply said that 'the President read such a long speech and she must have been tired, poor thing'. She fully respects the President of India. I think it is very unfortunate that this kind of thing is twisted by the media. They both are two respected people and older than us. She means no disrespect. BJP should first apologise for pushing into a gorge," she said. Click here to read more.

Amid a raging debate over a 70-90 hour work week, the Economic Survey presented in Parliament on Friday noted that spending more than 55-60 hours a week on work could adversely affect health.

The Survey, citing studies, also said that spending long hours at the desk is detrimental to one's mental well-being. Individuals who spend 12 or more hours daily at a desk have distressed or struggling levels of mental well-being, it said. Click here to read more.

Prime Minister Narendra Modi also strongly criticised Congress leader Sonia Gandhi over her "poor thing" comment on President Droupadi Murmu. At an election rally in Delhi's Dwarka, PM Modi said the Congress family's "arrogance was on full display today". "President Droupadi Murmu addressed Parliament. But a member of the royal family said the language was boring. One member said her language seemed tiring... Urban Naxals' words are more interesting to the royal family," he said. Click here to read more.

The Congress slammed the BJP-led Centre after the latest Economic Survey was tabled in Parliament, saying it calls for Ease of Doing Business 2.0 but is silent on a whole new GST 2.0 and an end to the "tax terrorism" unleashed over the last 10 years.

Congress general secretary in-charge communications Jairam Ramesh said the Economic Survey has little to say about an Ease of Living 1.0 to ensure that the public-health crisis caused by growing pollution and chemical contamination begins to be dealt with seriously.

The Economic Survey of the Ministry of Finance is often a wish list of desired policies and a warning about undesirable ones. The latest Economic Survey is no different, and contains much for the government to ponder.
First, it points out that the MGNREGA has been a lifeline for…

— Jairam Ramesh (@Jairam_Ramesh) January 31, 2025

The Congress described President Droupadi Murmu's address to both Houses of Parliament as a "clear-cut political speech" and claimed that it had no acknowledgment of what the ordinary citizen of the country was experiencing day after day.

Asked about Murmu's speech, Congress general secretary in-charge organisation K C Venugopal said the government has made the president deliver a "clear-cut political speech".

Congress MP Shashi Tharoor said it was a very predictable speech with no real surprises.

The Rashtrapati Bhavan termed the comments made by "some prominent Congress party leaders" on President Droupadi Murmu's address to Parliament as "unfortunate and entirely avoidable", adding that they were "in poor taste" and have "hurt the dignity of the high office".

"Rashtrapati Bhavan would like to clarify that nothing could be farther from the truth. The President was not tired at any point. Indeed, she has believed that speaking up for the marginalized communities, for women and farmers, as she was doing during the course of her address, can never be tiring," read the statement from her office. Click here to read more.

BJP National President JP Nadda condemned Congress MP Sonia Gandhi's remarks on President Droupadi Murmu, saying it was "deeply disrespectful and underscores the Opposition's continued disregard for the dignity of the highest constitutional office." 

Former Congress President Smt Sonia Gandhi’s use of the phrase “poor thing” to refer to the President is deeply disrespectful and underscores the opposition’s continued disregard for the dignity of the highest constitutional office. Unfortunately, this is not an isolated…

— Jagat Prakash Nadda (@JPNadda) January 31, 2025

Meanwhile, a political row has erupted over Congress MP Sonia Gandhi's  remarks on President Droupadi Murmu's address to both Houses of Parliament, referring to the latter as a "poor thing". 

 "The poor lady, the President, was getting very tired by the end...she could hardly speak poor thing," Ms Gandhi said.  

The BJP alleged the Congress leader has demeaned the high office and her remarks reflects her feudal mindset.

The Economic Survey 2024-25 on Friday mooted withdrawal of regulations or making compliance voluntary with disclosure where the market can do an effective job in the areas of health and education.

Pitching for "trust-based regulation", the survey said that tight regulations increase compliance and supervision burden on the already stretched state capacity.

Trust-based regulation backed up by transparency and disclosure on the part of the regulated deserves a chance, said the pre-Budget document while noting that regulatory institutions need to evolve to focus on allowing outcomes to happen without being fixated on inputs.

"The government's focus on rural infrastructure, housing, and livelihoods reflects a comprehensive 'welfare for all' approach," it noted.

The Indian economy is projected to expand at a rate of 6.3 per cent to 6.8 per cent in the financial year 2025-26 (FY26), according to the Economic Survey 2024-25 presented in Parliament by Finance Minister Nirmala Sitharaman today. 

The survey, released ahead of the Union Budget, cites strong domestic economic fundamentals, a declining unemployment rate, stable inflation, and the need for further reforms to sustain growth momentum.

"The fundamentals of the domestic economy remain robust, with a strong external account, calibrated fiscal consolidation and stable private consumption. On balance of these considerations, we expect that the growth in FY26 would be between 6.3 and 6.8 per cent," the Economic Survey reads.

Finance Minister Nirmala Sitharaman tables Economic Survey 2024-25 in Lok Sabha

Here are the highlights:

The country's aviation sector is progressing rapidly with the airline companies placing orders of 1700 new aircraft.

My Government is continuously working towards ensuring efficiency in cyber security. Digital fraud, cybercrime and DeepFake are serious challenges to social, financial and national security.

Today, India is making its presence felt as a major global player in the field of digital technology...Developed nations of the world are also impressed with the success of India's UPI transactions system...My Government has used digital technology as a tool for social justice and equality.

Today our youth is bringing glory to the country in every field from startups to sports to space...India is showing the way to the world in the fields of Artificial Intelligence and the adoption of technology.

Our aim is to make India a global innovation powerhouse...In the area of artificial intelligence, India AI Mission has been started.

My government believes in women-led development in the country...The government aims to have 3 crore 'Lakhpati didi'.

It is a matter of great pride for the Parliament that today women in large numbers are flying fighter aircraft, joining Police and also leading corporates in the country...Our daughters are making the country proud by winning Olympic medals.

Here are the highlights of her address:

President Droupadi Murmu was on Friday welcomed in Parliament premises by Vice President Jagdeep Dhankhar, Prime Minister Narendra Modi and Lok Sabha Speaker Om Birla and an official carrying the 'Sengol', adopted as a cultural symbol by the government.

The President will address the joint sitting of both Houses of Parliament signalling the start for the Budget session.

The President arrived in Parliament in a six-horse driven ceremonial buggy and escorted by the horse-mounted Presidential bodyguard.

She was given a guard of honour in the lawns of the Parliament building and was escorted to the Lok Sabha chamber by Dhankhar, Modi, Birla and Parliamentary Affairs Minister Kiren Rijiju.

While addressing the Parliament, President Droupadi Murmu remembered former Prime Minister Manmohan Singh. She paid tribute to Mr Singh.

President Droupadi Murmu addresses Parliament as the Budget session begins. In her inaugural address, the President condoled lives lost on Mauni Amavasya at the Maha Kumbh in Prayagraj, Uttar Pradesh.

LIVE: President Droupadi Murmu addresses Parliament https://t.co/2PKUDqNb5m

— President of India (@rashtrapatibhvn) January 31, 2025

President Droupadi Murmu arrives in Parliament to address the joint sitting of both Houses, received by Vice President Jagdeep Dhankhar, PM Modi, Lok Sabha Speaker Om Birla and Union Parliamentary Affairs Minister Minister Kiren Rijiju

 President Droupadi Murmu arrives in Parliament to address the joint sitting of both Houses which marks the beginning of the Budget session

#WATCH | President Droupadi Murmu arrives in Parliament to address the joint sitting of both Houses which marks the beginning of the Budget session
Video source: DD News pic.twitter.com/h0UDNjkQzx

— ANI (@ANI) January 31, 2025

 Ceremonial departure of President Droupadi Murmu to address both Houses of Parliament

#WATCH | Ceremonial departure of President Droupadi Murmu to address both Houses of Parliament
Video source: DD News pic.twitter.com/d4hruAYgaH

— ANI (@ANI) January 31, 2025

 President Droupadi Murmu departs from Rashtrapati Bhavan for the Parliament building, to address the joint sitting of both Houses at the beginning of the Budget session

#WATCH | President Droupadi Murmu departs from Rashtrapati Bhavan for the Parliament building, to address the joint sitting of both Houses at the beginning of the Budget session
Video source: DD News pic.twitter.com/HDTw20bOkx

— ANI (@ANI) January 31, 2025

 Ceremonial departure of President Droupadi Murmu to address both Houses of Parliament

Here are the highlights of his address:

PM Modi arrives in Parliament as the Budget session begins today

Union Home Minister Amit Shah arrives in Parliament for President Murmu's address to joint sitting of Parliment which marks the beginning of the Budget session.

Lok Sabha Speaker Om Birla arrives in Parliament as the Budget session begins today

#WATCH | Lok Sabha Speaker Om Birla arrives in Parliament as the Budget session begins today pic.twitter.com/ngz4fLJSDD

— ANI (@ANI) January 31, 2025

The first part of the Budget session will conclude on February 13 before breaking for recess to examine the Budget proposals. The session will reconvene on March 10 and continue till April 4. The entire Budget Session will have 27 sittings.

After President Murmu's address, Union Finance Minister Nirmala Sitharaman will table the Economic Survey in Lok Sabha and Rajya Sabha.

The budget session of the Parliament will begin today with President Droupadi Murmu addressing the joint sitting of the Lok Sabh and the Rajya Sabha.