Budget 2025 Key Announcements
- Gareeb, youth, nari will be the key focus
- Underemployment in agri will be addressed, 1.7 crore farmers will benefit
- National Mission on high yielding seeds will be launched
- India Post to become large public logistic organisation
- Atal Tinkering Labs: 50,000 such labs to be set up in govt schools in 5 years
- ₹10,000 crore fund of funds proposed for start ups
- 10,000 additional seats to be inculcated in medical institutes; 75,000 medical seats in 5 years will be created
- Kisan Credit Cards for 7.7 crore farmers; loan Limit enhanced to ₹5 lakh
- MSME: Term loans up to ₹20 crore will be given
- Modified UDAN scheme to be launched; 120 new destinations under modified UDAN scheme
- SWAMIH Fund: another 40,000 housing units to be completed in 2025
- Top 50 tourism destination to be developed
- National Geospatial Mission announced
- Second Gene Bank to be set up for future food security
- Greenfield airports to be facilitated in Bihar
- Jan Vishwas Bill 2.0 to be brought in to decriminalise 100 provisions
- Revised fiscal deficit estimated to be 4.8% of GDP
- Capital expenditure at ₹10.18 lakh crore
- Gross market borrowings at ₹14.82 lakh crore
- Social welfare surcharge on 82 tariff lines waived
- 36 life-saving drugs fully exempted from customs duty
- Handicrafts: 9 items to be added to duty free inputs
- Personal tax reforms with special focus on middle class
- TCS for remittance on education purposes removed
- Compliance burden reduced for small charitable trusts
- New scheme to determine Arms length Price in international transactions to be introduced
- Digitalisation being operationalised in tax frameworks
- Start ups: Extending incorporation benefits for five years
- Capital gains limit exceeded to ₹12.7 lakh
- Income tax slabs changed
- Income of ₹18 lakh will get ₹70,000 tax benefit
- Now maximum rate of 30% kick in at ₹24 lakh taxable compared to ₹15 lakh earlier
New Income Tax Slabs for 2025-26 Updates:
- ₹0-4 Lakh – nil
- ₹4 lakh – 8 lakh – 5%
- ₹8 lakh – 12 lakh: 10%
- ₹12 lakh – 16 lakh : 15%
- ₹16 lakh – 20 lakh: 20%
- ₹20 lakh – 24 lakh: 25%
- ₹24 lakh & above: 30%