Vikrant Shekhawat : Feb 01, 2025, 07:40 PM
Union Budget 2025: The second full-time budget of the third term of the Modi government was presented by Finance Minister Nirmala Sitharaman on Saturday. This time the government presented a budget of Rs 50 lakh crore, in which an attempt has been made to give relief to the public on the inflation and tax front. Also, this budget is also being considered important from the political point of view keeping in mind the upcoming elections.Tax relief to the middle classA big change has been made in the income tax slab to give relief to the middle class. Income up to Rs 12 lakh has been made tax free and a standard deduction of Rs 75,000 has been given.No tax up to Rs 4 lakh5% on income of Rs 3-8 lakh10% on income of Rs 8-12 lakh15% on income of Rs 12-16 lakh20% on income of Rs 16-20 lakh25% on income of Rs 20-24 lakh30% on income above Rs 24 lakhSpecial focus on electoral statesSpecial attention has been given to Bihar and Assam. Announcement of setting up a green field airport in Bihar, expansion of IIT Patna, Makhana Board, and Food Technology Institute was made. It was decided to set up a urea plant in Assam, which will create new employment opportunities.Special provisions for farmersLaunch of PM Dhan Dhanya YojanaAssistance to 100 districts for higher agricultural productivityKisan Credit Card limit increased from Rs 3 lakh to Rs 5 lakhSpecial loan facility for dairy and fisheriesPromotion of women, Dalits and tribalsTerm loan up to Rs 2 crore to 5 lakh women of SC/ST communityNew schemes to empower women entrepreneursSpecial provisions for youth and startupsLoan limit for startups increased from Rs 10 crore to Rs 20 crore75 thousand new seats will be added in medical educationInfrastructure will be developed in 5 new IITsInflation relief and public welfareCess removed from 82 items36 cancer medicines made cheaperMobiles, TVs, electric cars, clothes and leather goods will become cheaperAdditional 40,000 units of affordable housing will be builtPower distribution companies strengthened This budget has been presented while maintaining a balance between economic reforms, development and social welfare, which is expected to benefit various sections.