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 class
A 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 lakh
5% on income of Rs 3-8 lakh
10% on income of Rs 8-12 lakh
15% on income of Rs 12-16 lakh
20% on income of Rs 16-20 lakh
25% on income of Rs 20-24 lakh
30% on income above Rs 24 lakh
Special focus on electoral states
Special 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 farmers
Launch of PM Dhan Dhanya Yojana
Assistance to 100 districts for higher agricultural productivity
Kisan Credit Card limit increased from Rs 3 lakh to Rs 5 lakh
Special loan facility for dairy and fisheries
Promotion of women, Dalits and tribals
Term loan up to Rs 2 crore to 5 lakh women of SC/ST community
New schemes to empower women entrepreneurs
Special provisions for youth and startups
Loan limit for startups increased from Rs 10 crore to Rs 20 crore
75 thousand new seats will be added in medical education
Infrastructure will be developed in 5 new IITs
Inflation relief and public welfare
Cess removed from 82 items
36 cancer medicines made cheaper
Mobiles, TVs, electric cars, clothes and leather goods will become cheaper
Additional 40,000 units of affordable housing will be built
Power 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.
