The Union Budget 2025-26, supplied by means of Finance Minister Nirmala Sitharaman, introduces key reforms in tax guidelines, infrastructure, healthcare, and agriculture. Budget 2025 date With a focal point on fostering economic increase, process introduction, and social welfare, the budget ambitions to bolster India’s self-reliance, decorate financial balance, and promote inclusive improvement throughout sectors.
Nirmala Sitharaman has therefore become the first-ever female finance minister to lay in Parliament the Union Budget for 2025-26 on February 1, 2025. This is the eighth budget presented by Finance Minister Nirmala Sitharaman. Budget 2025 date Expectedly, the budget will allocate money for several sectors, including agriculture, industry, health, and education, for relief purposes and job creation. This budget is crucial for creating an ‘Atma Nirbhar Bharat’ (Self-Reliant India).
Budget 2025 Key Highlights and Updates: Budget 2025 date
The Union Cabinet had already accredited the Budget 2025 earlier than its presentation, and you could discover the cutting-edge updates right here.
Emphasis on Gig economy: Budget 2025 date
FM Nirmala Sitharaman declared that one crore gig people might receive ID cards, especially the ones who’re working on systems like Swiggy, Zomato, Zepto, and BigBasket.
This initiative might give them due reputation and provide social protection blessings to them.
- In addition, the workers can be covered below PM Jan Arogya Yojana and their registration is being made easier through the e-Shram portal.
- The development coincides with a surge in the boom of the quick trade region, which has grown to a $6 billion marketplace within 4 years.
- Development is probably to enhance social security in the online commerce vicinity.
- New Tax Bill Will be Simple and Straightforward
- The new earnings tax invoice is drafted to be easy, with clean language that guarantees easy comprehension for each taxpayers and tax directors. Its transparent wording seeks to remove ambiguity, Budget 2025 date making it greater accessible and person-friendly for all people.
- Patient Assistance Program of Pharmaceutical Companies Shall be Exempted from BCD
- The patient help packages of pharmaceutical companies can be exempted from BCD so long as drugs are supplied free from charge to sufferers. Besides, 37 new medicines and 13 new affected person assistance packages could be brought to the exemption listing.
FM publicizes PIT reforms, rationalization of TDS and TCS
Sitharaman announces PIT reforms, rationalisation of TDS and TCS, lowering compliance burden. The authorities have introduced exemptions from Basic Customs Duty (BCD) on cobalt powder, lithium-ion battery waste and scrap, lead, zinc, and 12 different critical minerals. Budget 2025 date, In addition, 35 greater gadgets associated with electric car (EV) battery manufacturing and 28 items for cellular phone battery manufacturing may be introduced to the listing of exempted capital goods.
Budget 2025 Date
The Budget 2025 might be supplied on 1st February 2025. The Budget 2025 speech via the Finance Minister will begin at 11:00 AM on February 1st at the Lok Sabha. The finances, traditionally supplied by the Finance Minister in Parliament each 12 months, may be brought this year through Finance Minister Nirmala Sitharaman.
Budget Announcements: Budget 2025 date
| Sector | Announcement | Details/Comments |
| Income Tax | New income tax regime | – Income up to Rs 12 lakh: No tax- Rs 8-12 lakh: 10%- Rs 12-16 lakh: 15%- Rs 16-20 lakh: 20%- Rs 20-25 lakh: 25%- Above Rs 25 lakh: 30% |
| TDS on rent | Annual limit raised from Rs 2.4 lakh to Rs 6 lakh | |
| Tax deduction for senior citizens | Limit doubled to Rs 1 lakh | |
| Tax for salaried taxpayers | No income tax payable for income up to Rs 12.75 lakh | |
| Tax on income up to Rs 4 lakh | Set at 0% under the new regime | |
| Start-ups | Benefits continuation | Benefits for start-ups will continue for five years from inception |
| Banking/Insurance | Grameen credit score framework | To be established for rural India |
| FDI in insurance sector | Limit raised to 100% | |
| Infrastructure | PPP mode projects | Three-year projects can be implemented in PPP mode |
| Interest-free loans | Rs 1.5 lakh crore allocated for states to implement infrastructure reforms | |
| Regional airports | Over 100 new regional airports planned over the next decade | |
| UDAN 2.0 | To connect 120 new airports, with a focus on Northeast and Bihar | |
| Excise/Customs Duty | Export promotion mission | Set up for easier access to export credit |
| Tariff rates | Proposal to remove seven tariff rates, leaving eight remaining | |
| Economy | Investment-friendly index | To promote competition among states |
| Fiscal deficit | Revised fiscal deficit target set at 4.8% for fiscal year 2025 | |
| Capital expenditure | Set at Rs 10.18 lakh crore | |
| Women’s Development | Term loan for women entrepreneurs | Up to Rs 2 crore available for first-time entrepreneurs from SC/ST and backward classes |
| Rural India | Nutritional support | For over eight crore children and one crore lactating mothers |
| Make in India | National Manufacturing Mission | Provides policy support and monitoring framework |
| Clean technology manufacturing mission | New initiative launched | |
| Nuclear Energy Mission | Focused on research and development | |
| Water Management | Jal Jeevan Mission | Extended until 2028 |
| Technology | Centre of Excellence in AI | To be established with an allocation of Rs 500 crore |
| EV battery manufacturing | Additional capital goods for production | |
| Start-ups | Benefits continuation | Benefits for start-ups will continue for five years from inception |
| Banking/Insurance | Grameen credit score framework | To be established for rural India |
| FDI in insurance sector | Limit raised to 100% | |
| Housing | Housing fund | Allocation of Rs 15,000 crore for the completion of one lakh housing units |
| Agriculture | Atmanirbharta in oil seeds | Six-year mission launched |
| Cotton yield improvement | Five-year mission initiated | |
| Kisan Credit Card | Loan limit increased from Rs 3 lakh to Rs 5 lakh | |
| Education | Atal Tinkering Labs | To be established in schools |
| Broadband internet | Provision for government secondary schools | |
| IIT infrastructure | Additional infrastructure to increase student capacity; IIT Patna to be expanded | |
| Healthcare | Daycare cancer centres | To be set up in all district hospitals; 200 centres planned by fiscal 2026 |
| Duty on life-saving drugs | Six life-saving drugs to have a 5% duty; 36 drugs exempted from basic customs duty | |
| Growth | MSME credit guarantees | Coverage raised from Rs 5 crore to Rs 10 crore |
For what reason is the Budget for the Year 2025 a Game-Changer?
Because it proposes changes and allocations aimed at economic growth, job creation, and funds for social welfare schemes, the Budget for the year 2025 becomes extremely important. Budget 2025 date,The focus is on inclusive development aiming to increase the standard of living for all citizens.
Importance of Financial Stability: Budget 2025 date
Proper management of fiscal rules can considerably enhance the national financial health, at the same time as terrible control can result in instability. It can be essential to look at how critical offerings like tax, training, health, and subsidies are managed on this budget.The Union Budget 2025-26 is a big step closer to fostering economic increase and social welfare. With expected adjustments in tax regulations, zone-particular allocations, and initiatives for monetary stability, this budget may have a long-lasting impact on India’s improvement inside the coming years.
Expected Changes in Taxation Policy
In terms of taxation, the expenditure priorities in the Budget 2025-26, and subsidies will be widely debated. Budget 2025 date, It remains to be expected that a change in the slabs of taxations is made primarily for a relief measure for the middle class.
Encouragement for the New Tax Regime: Budget 2025 date
The government is contemplating an increase in the standard deduction limit in the new tax regime in a bid to encourage more taxpayers to shift to the new regime from the old, thereby simplifying the tax structure itself.
FAQs
Q: Does the price range come every year?
Under Article 112 of the Constitution, an announcement of predicted receipts and expenditure of the Government of India has to be laid earlier than Parliament in favour of each financial 12 months which runs from 1st April to 31st March.
Q: How is the price range of 2025?
Union Budget 2025 Highlights is Fiscal Deficit estimated to be four.Four% of GDP for FY 2025-26. Union Budget 2025 Highlights is India’s Fiscal Deficit is envisioned to be 4.Four according to the cent of GDP at ₹15.68 lakh crore as in step with the finances estimates for FY 2025-26.
Q: Why is the Union Budget essential?
The finances have aimed to address inflation and employment demanding situations, improve intake of the middle-earnings section, and keep fiscal deficit under test. Budget 2025 date Private intake, an essential thing of India’s home demand, has confronted vast challenges these days.
Read More: Nirman Shramik Kalyan Yojana | Aapli Chawadi: 7/12 Ferfar Notice, Status | JNB Nivas: Residentials Schools & Hotels