February 1 Bank holiday or not due to Budget 2025?

To relieve customers, banks across the country will remain open today, February 1, despite the upcoming holidays in February due to various festivals. This comes as welcome news for those who need to visit their banks to complete their financial tasks.

Finance Minister Nirmala Sitharaman will present the Union Budget 2025-26 in Parliament today, which is likely to balance the aspirations of the middle class for tax cuts and the needs of the economy to boost growth.

According to the Reserve Bank of India calendar, banks will remain shut in different states for eight days in February, in addition to the second and fourth Saturdays, and Sundays. However, today, February 1, is not a bank holiday, and customers can visit their nearby bank branches to complete their important financial tasks.

The bank holidays in February are due to various festivals like Saraswati Puja, Thai Poosam, Guru Ravi Das's Birthday, Lui-Ngai-Ni, Chhatrapati Shivaji Maharaj Jayanti, Statehood Day, Mahashivratri, and Losar.

The Union Budget 2025-26 could be pivotal to reviving dwindling economic growth and helping middle-class consumers alleviate the strain caused by price and cost inflation. The budget would come against a backdrop of an expected 6.4% GDP growth, the lowest rate in four years, nearly a decadal average.

The Economic Survey 2024-25, tabled by Finance Minister Nirmala Sitharaman in both Houses on Friday, projects India's GDP growth at between 6.3-6.8 per cent in FY26. It also talked about the imperative for deregulation and reforms, including land and labour, for a boost in growth.

Also read: Union Budget 2025: Date, Time, and Where to Watch Live