FM Nirmala Sitharaman delivers her second-shortest Budget speech

Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Saturday presented her eighth consecutive Budget with a speech lasting 74 minutes, which is believed to be the second shortest speeches, running into around 7,900 words. Notably, she holds the record of delivering the longest budget speech of two hours and forty minutes in 2020.

Dressed in an off-white coloured handloom silk saree with fish-themed embroidery and a golden border -- a tribute to Madhubani Art, Sitharaman delivered her speech. Her remarks on no income tax up to income of Rs 12 lakh received the loudest cheer.

Earlier in the day, as soon as the House convened and Speaker Om Birla called Sitharaman for presenting the Budget, Opposition MPs walked out of Lok Sabha demanding a discussion on the stampede in Maha Kumbh.

The FM made some crucial announcements in her budget speech, including rationalisation of the TDS (Tax Deduction at Source) regime to ease compliance burden, creating additional infrastructure in five Indian Institutes of Technology (IITs) and expanding IIT Patna, and hiking the income tax exemption limit to Rs 12 lakh per annum under the New Tax Regime.

Sitharaman also announced a Nuclear Energy Mission aimed at promoting research and development of small modular reactors, with an outlay of Rs 20,000 crore. She also announced 10,000 fellowships for tech research at the Indian Institute of Technology (IIT) and Indian Institute of Science (IISC) in the next five years.