Budget 2025: 7 facts of FM Nirmala Sitharaman as she creates history with 8th consecutive presentation

Finance Minister Nirmala Sitharaman is scheduled to present her eighth consecutive Union Budget on Saturday (Feb 1). With this, she moves closer to the record held by former Prime Minister Morarji Desai, who presented a total of 10 budgets across multiple terms—the highest by any leader. 

Nirmala Sitharaman assumed office as India’s Finance Minister and Minister for Corporate Affairs in 2019. After the general elections in June 2024, she was reinstated in both roles.

She is India's first full-time female Finance Minister, managing an economy projected to become the world's third-largest by 2027.

Before Sitharaman, Indira Gandhi had briefly handled the finance portfolio as an additional responsibility while serving as Prime Minister. On July 5, 2019, Sitharaman presented the first Budget of the government's second term, retaining the tax relief for individuals earning up to Rs 5 lakh annually, a measure initially introduced by her predecessor Piyush Goyal in the Interim Budget.

Education

She earned a Bachelor's degree in Economics from Seethalakshmi Ramaswami College in Tiruchirappalli, Tamil Nadu, in 1980. Later, in 1984, she completed a Master of Arts in Economics at Jawaharlal Nehru University (JNU) in New Delhi, where she studied under prominent economists. She began a PhD program but had to discontinue it when she relocated to London with her husband.

Political Career

Before becoming Finance Minister, Sitharaman held the position of Defence Minister from 2017 to 2019. During this period, she was instrumental in countering allegations of corruption in the Rafale aircraft deal with France, a major controversy raised by the Opposition ahead of the 2019 Lok Sabha elections.

Her clear and assertive defense in public forums and Parliament played a crucial role in countering the allegations, contributing to the BJP’s decisive victory in the 2019 elections. She was also an integral part of the committee that drafted the party’s manifesto for the polls. Sitharaman entered politics in 2008 when she joined the BJP.

She rapidly ascended within the party, earning the role of national spokesperson in 2010, where her strong communication skills gained widespread recognition. In 2014, she was appointed Minister of State for Commerce and Industry with independent charge, significantly contributing to the formulation of India’s trade and industry policies during the Modi government’s first term.

Sitharaman's influence in the government goes beyond economic policymaking. She has played a key role in advancing financial inclusion and driving digital transformation. Her leadership in expanding access to banking through the Pradhan Mantri Jan Dhan Yojana and promoting digital transactions via the Unified Payments Interface (UPI) has significantly shaped India's financial ecosystem.