Story by Raksha Bhattacharjee
Union Budget 2025 LIVE: The finance minister cheered up the middle class by removing taxes on income up to ₹12 lakh. Nirmala Sitharaman was the first finance minister to deliver the Union Budget eight times in a row.
Union 2025 Budget LIVE
Finance Minister Nirmala Sitharaman declared on Saturday that the upgraded new tax system will impose 0% income tax up to ₹12 lakh in income, making the Union Budget 2025 “pro-middle class.” According to Nirmala Sitharaman, next week will see the introduction of the new, “simpler” income tax bill.
The Union Budget 2025 intends to implement revolutionary changes in six areas, according to Finance Minister Nirmala Sitharaman: taxation, the electricity industry, urban development, mining, the financial sector, and regulatory reforms.
Union Budget 2025
Important Aspects -Income tax relief: Finance Minister Nirmala Sitharaman said she will present the new income tax bill next week, amid tremendous expectations for tax reforms and middle-class relief. According to Finance Minister Nirmala Sitharaman, the new tax system will not impose income tax on amounts up to ₹12 lakh.
Prime Minister Narendra Modi calls it a “people’s budget”
On Saturday, PM Modi praised Finance Minister Nirmala Sitharaman and his team for delivering what he called a “people’s budget,” which he said will fulfill the dreams of Indians. The budget will boost savings, investments, consumption, and growth, he said, adding that the goal of the Union Budget 2025 is to provide for the country’s citizens rather than to line the government’s offers.
Important announcements of Budget 2025
Nirmala Sitharaman announced several important measures in Budget 2025, including a revamped “Udaan” plan, revised classification criteria for MSMEs, a strategy to support the leather and footwear industries, and the addition of 75,000 medical seats over the next five years.
Presentation of the eighth budget by Nirmala Sitharaman
Although Nirmala Sitharaman is the first finance minister to present the budget eight times in a row, she is not the person who has presented the most budgets
Aatmanirbharta in pulses
To increase “aatmanirbharta [self reliance]” in pulses, the government initiated a six-year project that, among other things, focused on tur, urad, and masoor. The mission focused on developing and commercializing climate-resilient seeds, improving their protein content, and raising productivity.
Program for New Business Owners
FM Sitharaman said on Saturday that a new program will be introduced to offer term loans up to ₹2 crore for the next five years to 5 lakh new business owners, including women, Scheduled Castes, and Scheduled Tribes.
Modified UDAN scheme
During the presentation of the Union Budget 2025, Nirmala Sitharaman declared that a modified UDAN scheme would be introduced to support helipads and smaller airports in hilly, aspirational, and North East region districts, as well as to improve regional connectivity to 120 new destinations and carry four crore passengers over the next ten years.
Bihar’s greenfield airports
Bihar will build greenfield airports to accommodate the state’s future demands. In addition, a brownfield airport at Bihta and the Patna airport’s capacity will be increased.