Finance Minister Nirmala Sitharaman on Saturday enhanced the total outlay for Jal Jeevan Mission to Rs 67,000 crore in her proposals for Budget 2025-26 and said that the Mission stands extended until 2028.

FM Sitharaman stated that 15 crore households representing 80 per cent of India's rural population have benefitted from the Jal Jeevan Mission since 2019.

She added that access to potable tap water connections is provided under this Mission, and in the next three years, the target is to achieve 100 per cent coverage.

Jal Jeevan Mission's focus will be on the quality of infrastructure and operation and maintenance of rural piped water supply schemes through "Jan Bhagidhari".

Finance Minister Nirmala Sitharaman identified agriculture as "the first engine" for India’s development journey with the announcement of a slew of measures in Budget 2025-26 to raise farm production and increase the incomes of farmers.

She said that a Makhana Board would be set up in Bihar, to improve the production, processing, value addition, and marketing of makhana (fox nut) as well as support the people engaged in these activities to be organised into Farmer Producer Organisations (FPOs). The Board will provide handholding and training support to makhana farmers and also work to ensure they receive the benefits of all relevant government schemes, she added.

The Minister also stated that a National Mission on High Yielding Seeds will be launched with an aim to strengthen the research ecosystem, targeted development and propagation of seeds with high yield, pest resistance and climate resilience, and commercial availability of more than 100 seed varieties released since July 2024.

Union Finance Minister Nirmala Sitharaman, presenting the Budget 2025-26 on Saturday, introduced some key changes in basic customs duties (BCDs) that will impact the prices of various goods.

The budget includes duty exemptions on essential medicines, electronic goods, electric vehicle (EV) components, and mobile phone parts. The changes introduced will make them more affordable for consumers.

One of the biggest reliefs comes in the healthcare sector, where the government has fully exempted 36 life-saving drugs used in the treatment of cancer and chronic diseases from basic customs duties.

Additionally, 37 more medicines will also be duty-free to make essential medical treatment more affordable for patients.

Finance Minister Nirmala Sitharaman on Saturday announced an increase in the FDI limit for the insurance sector from 74 per cent to 100 per cent in the Budget for 2025-26 as part of far-reaching reforms in the financial sector.

This enhanced limit will be available for those companies which invest the entire premium in India. The current guardrails and conditionalities associated with foreign investment will be reviewed and simplified, the Finance Minister said.

Budget 2025-26 aims to initiate transformative reforms across six domains which will augment our growth potential and global competitiveness during the next five years, she while presenting the Budget in Parliament.

One of these domains is the financial sector which encompasses sectors like insurance, pensions, bilateral investment treaties (BIT) and so forth, she said.

The Indian stock market on Saturday closed flat over weak global cues as Union Finance Minister Nirmala Sitharaman presented the Union Budget 2025-26 in Parliament.

Despite touching the day's high of 77,899.05, the BSE Sensex settled at 77,505.96 with 5.39 points or 0.01 per cent up from its previous close.

The NSE Nifty ended lower by 26.25 points, or 0.11 per cent, at 23,482.15. Throughout the session, the index moved between a high of 23,632.45 and a low of 23,318.30.

"The Nifty has witnessed a roller-coaster ride during the Budget session. On the daily chart, a small-bodied candle has formed, indicating indecision,” market experts said.

Among sectoral indices, FMCG, Consumer Durables, and Auto stocks saw strong gains.

Haryana Chief Minister Nayab Saini on Saturday expressed gratitude to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for the Union Budget 2025-26, saying it will provide a new boost to the country's development and play an important role in making the state self-reliant.

The Chief Minister highlighted that the Budget has been designed to benefit all sections of society. Haryana will also benefit from the Budget's provisions, which will aid the state's continued progress and development.

Describing the Budget as a strong foundation for a Viksit Bharat, CM Saini highlighted that it will further empower the youth, the poor, the women, and the farmers.

He said the Modi government has identified these four groups as the pillars of a developed India.

Finance Minister Nirmala Sitharaman has decided to continue with the high capital expenditure on big-ticket infrastructure projects in the highways, ports, railways, and power sectors with an allocation of Rs 11.21 lakh in the Budget for 2025-26, which represents an increase of 10.2 per cent over the Rs 10.18 crore that was spent on capex in 2024-25.

The figure is a modest 0.9 per cent higher than the Budget Estimate for 2024-25 at Rs 11.11 lakh crore which was a sharp increase over the capex for 2023-24. The entire amount of the Rs 11.11 lakh crore could not be spent during the current financial year because of the Lok Sabha elections which for followed by Assembly polls in some states, including Maharashtra.

Sitharaman proposed to reduce the capital expenditure target to Rs 10.18 lakh crore from Rs 11.11 lakh crore for this fiscal year.

The capex continues to remain at a robust level to spur growth and it must be seen in comparison to a high base, a senior official said.

In a move set to impact the hospitality and commercial sectors, oil marketing companies have reduced the price of 19 kg commercial LPG cylinders by Rs 7, effective immediately.

The revision comes just ahead of the Union Budget presentation, scheduled for 11 AM in Parliament.

Following this reduction, the cost of a 19 kg commercial LPG cylinder in Delhi has dropped from Rs 1,809 to Rs 1,797. However, there has been no revision in the price of 14 kg domestic LPG cylinders.

In other major cities, the previous rates stood at Rs 1,756 in Mumbai, Rs 1,911 in Kolkata and Rs 1,966 in Chennai.

The government has slapped a penalty of Rs 9.27 crore on Bybit Fintech Limited (Bybit), a virtual digital asset service provider (VDA SP) over Prevention of Money Laundering Act, 2002 (PMLA) violations.

The Financial Intelligence Unit-India (FIU-IND) imposed a monetary penalty of total Rs 9,27,00,000 on Bybit, “with reference to the violations of its obligations under the PMLA”.

Bybit kept expanding its services in the Indian market without securing mandatory registration with the FIU-IND, according to the agency.