As the middle class rejoic

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In the Union Budget 2025, Prime Minister Narendra Modi-led government has turned to the country's middle class to revive growth. In a massive relief, Union Finance Minister Nirmala Sitharaman announced an exemption to annual income of up to Rs 12 lakh from income tax and changed tax slabs. However, the capex target for a sector that is significant for the economy has been unexpectedly kept unchanged. At Rs 2.52 lakh, the capital outlay for railways for 2025-26 is the same as last year,


The capital outlay for roads has also been maintained at Rs 2.72 lakh.


Read every information on Union Budget 2025 here.


The shares of railway stocks - such as IRCON and IRCTC - that soared on Friday after the Economic Survey 2025 was tabled, tumbled after the Finance Minister didn't mention any key reform for the sector. Besides tax relief, industry leaders and experts were hoping for continued investments in roads, railways and other critical infrastructure to be a major budgetary focus.


The Economic Survey 2024-25 tabled in Parliament on Thursday suggested that while the expansion of the rail network has come down by approximately 10 per cent, the production of rolling stock such as wagons and locomotives has increased as compared to the April-November period of the previous financial year 2023-24.


According to the Survey, while in the whole of the financial year of 23-24, 41 Vande Bharat trains were introduced, FY 24-25 witnessed 17 new Vande Bharat trains up to October for various destinations in the country.


At present, a total of 68 Vande Bharat trains are operational in the country.


It further suggested that while in FY 23-24, 456 Vande Bharat coaches were produced, in FY 24-25 the figure stood at 228 up to October.


Till 2017, the Railway Budget used to be presented separately a few days ahead of the Union Budget. The Railway Budget was first separated from the General Budget in 1924. The practice came to an end after 92 years when then Finance Minister Arun Jaitley presented the Union Budget for the year 2017-18.


The decision to merge these two budgets was based on the recommendations of a committee headed by Bibek Debroy, then a member of NITI Aayog. It aimed to give a complete view of the central government's finances and improve transport planning between highways, railways and waterways. It also allowed the Finance Ministry more flexibility in allocating resources during the mid-year review.


- With inputs from ANI.