Union Budget 2025 has launched. Now we're going discuss the major points of Budget 2025. Here's the major points discussed by the Finance Minister.
Budget to initiate reforms in 6 domains - taxation, urban development, mining, financial
sector, power and regulatory reforms: FM Sitharaman
1- Relief for middle-class
Reduction in Income Tax- No tax will be payable on income up to Rs 12 lakh, providing significant relief to taxpayers especially the middle class.
This limit will be Rs 12.75 lakh rupees for salaried tax payers counting Rs 75,000 of
standard deduction. She further added that the new income tax regime will be less complicated and with a special focus on benefitting the middle class.
However, exemption can be achieved only if a tax payer avails relief under various sections of the income tax act like Rs 1.5 lakh exemption under section 80CCC, exemption of Rs 1.5 lakh for paying interest on home loans.
2- For farmers
- FM announces; PM Dhan Dhyan Krishi Yojana, covering 100 districts with low yields,
modern crop intensity and below average credit parameters.
- Govt to launch rural prosperity, resilience programme focussing on youth, women and
farmers, says FM.
- Govt to launch on 6-year program for Atamnirbharta in pulses with special focus on tur,
urad, and masoor: FM Sitharaman
- Comprehensive programme for raising vegetables, fruits production, and providing
Remunerative prices will be launched, says FM
- A national mission of high yielding seeds will be launched: FM
- FM Sitharaman announces 5-year mission to promote cotton production.
- Govt to enhance limit for interest subvention scheme for Kisan Credit Card from Rs 3 lakh to Rs 5 lakh: FM
3- Makhana Board for Bihar
Makhana Board will be established in Bihar to improve production and processing of fox nut.
For this, there is a special opportunity for the people of Bihar. A Makhana Board will be
established in the state to improve production, processing, value addition and marketing of
Makhana. The people engaged in these activities will be organised into FPOs. The Board will
provide hand holding and training support to Makhana farmers and will also work to ensure
they receive the advantages all relevant government schemes," she said.
4- For women
The government will introduce a Rs 2-crore term loan for 5 lakh first-time women, SC and ST
entrepreneurs: FM Sitharaman
5- For startups
With quality products, MSMEs account for 45 % of our exports.
Investment and turnover limit for classification of MSMEs increased: FM Sitharaman
India Post to be turned into large public logistic organisation with 1.5 lakh rural post offices to become catalyst for rural economy: FM
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