Finance Minister Nirmala Sitharaman presented the first full Union Budget 2025, marking her eighth consecutive budget presentation in Parliament. This budget introduces significant reforms in taxation, agriculture, infrastructure, and business growth. Here are the key highlights:
Income Tax Relief for the Middle Class
- No income tax on earnings up to тВ╣12 lakh under the new tax regime.
- Tax slabs under the new regime:
- тВ╣16тАУтВ╣20 lakh: 20% tax
- тВ╣20тАУтВ╣24 lakh: 25% tax
- Above тВ╣24 lakh: 30% tax
- The time limit for filing updated income tax returns extended from 2 years to 4 years.
Focus on Water and Sanitation
- Jal Jeevan Mission extended until 2028 to ensure drinking water for all households.
- Increased focus on sanitation and sewage systems.
- Completion of 1 lakh pending houses in 2025, with 40,000 new houses to be handed over.
Boost to Agriculture & Farmers
- Increase in agricultural investments and better irrigation facilities.
- Dhan-Dhanaya Scheme launched to support farmers.
- Kisan Credit Card limit increased to тВ╣5 lakh, benefiting 1 crore farmers.
- Focus on increasing tur (pigeon pea), urad (black gram), and masoor (lentil) production.
- New five-year mission for cotton farmers.
- Makhana Board to be established in Bihar for foxnut (makhana) production.
Support for Women Entrepreneurs & MSMEs
- Special loan scheme for SC/ST and women entrepreneurs.
- First-time women entrepreneurs eligible for a тВ╣2 crore term loan.
- MSMEs to get loans up to тВ╣20 crore.
Senior CitizensтАЩ Benefits
- TDS exemption limit increased from тВ╣50,000 to тВ╣1 lakh for senior citizens.
Insurance & Startup Sector Boost
- FDI limit in the insurance sector increased from 74% to 100%.
- Startup loans increased from тВ╣10 crore to тВ╣20 crore, with a reduction in guarantee fees.
Healthcare & Pharma Industry
- 36 life-saving drugs, including cancer medicines, made duty-free to make treatment affordable.
Infrastructure Development
- Greenfield airports to be developed in Bihar.
- Small airports and helipads to be set up in hilly regions.
Boost for Fertilizer Industry
- A new urea plant to be set up in Assam.
- Three old urea plants to be reopened to ensure better supply.
The Union Budget 2025 focuses on economic growth, tax relief, infrastructure, and sectoral development, benefiting millions of Indians. Let me know if you need further refinements! ЁЯЪА
Ref : Zee News
