New Delhi:
Finance Minister Nirmala Sitharaman presented the general budget 2025-26 on Saturday. In the budget, the government took special care of the middle class and made many such announcements that will save more money in the hands of the people. In the budget by the Finance Minister, the income tax exemption under the new Income Tax Resetam was increased to Rs 12 lakh. At the same time, if the standard deduction exemption of Rs 75,000 received to the people receiving salary is mixed, then no tax will have to be paid on income up to Rs 12.75 lakh.
Under the new tax regime, tax on income of Rs 0-4 lakh will be zero. At the same time, 5 percent on income of Rs 4-8 lakh, 10 percent on income of Rs 8-12 lakh, 15 percent on income of Rs 12-16 lakh, 20 percent on income of Rs 16-20 lakh, 20-24 lakhs The rate of tax on income of Rs 25 percent on income of Rs and more than 24 lakhs will be 30 percent.
There will be a savings of Rs 80,000 on income of Rs 12 lakh, Rs 70,000 on income of Rs 18 lakh, Rs 90,000 on income of Rs 20 lakh and Rs 1,10,000 on income of Rs 24 lakh. It was announced in the budget by the Finance Minister that the number of TDS rates and boundaries will be reduced to rationalize it. The annual limit of TDS on rent has been increased from Rs 2.40 lakh to Rs 6 lakh.
Finance Minister Sitharaman has also given relief to file returns for 4 years. The updated returns can be filled again in the Assistant Year. Along with this, the government has increased the amount of exemption on donation from Rs 5 lakh to Rs 10 lakh. The middle class will also get relief from the announcement made on property in the budget. Now if there are 2 property, taxpayers will not have to pay any kind of tax. Earlier this discount was limited to only one property. Senior citizens have also been gifted by the government in the budget. Now the tax deduction limit on interest for citizens above 60 years has been increased to Rs 1,00,000, which was earlier Rs 50,000.
Major announcement of finance minister
- A new income tax bill will be brought next week.
- The KYC process will be made easier.
- FDI range from 74 % to 80 %
- To increase the infrastructure, states will have a outlay of Rs 1.5 lakh crore for 50 years interest free loan.
- The National Institute of Food Technology, Entrepreneurship and Management will be established in Bihar.
- The government will prepare additional infrastructure in five IITs, IIT will expand Patna.
- Broadband connectivity facility will be provided to all government secondary schools and primary health centers.
- Broadband connectivity facility will be provided to all government secondary schools and primary health centers.
- Artificial Medha (AI) Excellence Center will be established at a cost of Rs 500 crore for education: Finance Minister.
- A atomic power mission will be set up with a total of Rs 20,000 crore, by 2047 a target of 100 GW Nuclear Energy Capacity.
- The government will arrange identity cards and registration on the e -ram stage to assist one crore ‘Gig personnel’
- Improvements in power distribution companies will be encouraged, states will be allowed 0.5 percent loan of GSDP to pursue reforms.
- The government will give a loan of two crore rupees to five lakh women, Scheduled Castes and Scheduled Tribes entrepreneurs for the first time.
- The government will give a loan of two crore rupees to five lakh women, Scheduled Castes and Scheduled Tribes entrepreneurs for the first time.
- A fund for startup units will be set up with the government’s contribution of Rs 10,000 crore.
- 10,000 seats will be increased in medical college.
- The government will provide assistance to the National Cooperative Development Corporation for loan operations.
The Finance Minister said that the Pradhan Mantri Dhan Dhanya Yojana is being carried forward with the states. Efforts are on to increase the power to buy middle class. He said that developed is moving ahead with the goal of India. The Finance Minister said that the Indian economy is at the forefront of rapidly growing economies.
Union Finance Minister Nirmala Sitharaman said, “Kisan Credit Card provides short -term loans to 7.7 crore farmers, fishermen and dairy farmers. Loans for loans taken through KCC (Kisan Credit Card) under the revised interest grant scheme The limit will be increased from Rs 3 lakh to Rs 5 lakh. “
- The Finance Minister made a big announcement for the farmers and announced that the Makhana Board will be formed.
- The Finance Minister has made special focus on farmers in the budget. He has also said that India will be made a food basket.
- The limit related to investment and business for classification of MSME units was increased.
- The Indian Postal Department will be converted into a large public logistic organization, under which 1.5 lakh rural post offices will become catalysts for rural economy.
- The investment limit for MSME classification will be increased by 2.5 times, the business limit will be doubled.
- Small industries will be given a credit card of five lakh rupees.
While praising the budget, Union Home Minister Amit Shah wrote in a post on social media platform X, “Budget-2025 developed and in every field is the blueprint of Modi government’s foresight towards building superior India. Farmers, poor, middle classes , This budget is the roadmap of Prime Minister Narendra Modi’s self -sufficient India, incorporating every field from education, nutrition and health of women and children, from innovation and investment. Congratulations to
Budget 2025 live updates
BJP National President and Union Health Minister JP Nadda described the budget as a symbol of developed India in the post on X. He said, “NDA government under the leadership of Prime Minister Narendra Modi symbolizes the commitment of resolve to build ‘developed India’ as well as ‘developed India’. Will do special attention to the concept of ‘developed India’ including women, laborers, farmers, youth, traders, agriculture, middle class families, better health facilities, industry, investment and exports. I thank Prime Minister Modi for this budget and congratulate Finance Minister Nirmala Sitharaman and his entire team. “
Government will give exemption on the production of lithium-ion battery
Finance Minister Nirmala Sitharaman on Saturday proposed to increase the fee exemption on capital goods used in the production of lithium-ion batteries. The move aims to promote domestic manufacturing of lithium-ion battery, a major component in electric vehicles and mobile phones. He said, “I propose to add 35 additional capital goods for EV battery manufacturing and mobile phone battery manufacturing 28 additional capital goods in the list of exempted capital goods.”
The Finance Minister, while presenting his record eighth consecutive budget, said that this will promote domestic manufacturing of lithium-ion battery for both mobile phones and electric vehicles. Saket Mehra, a partner of Grant Thornton India and head of the vehicle and EV industry, said that the reduction in customs duty on lithium will significantly reduce the cost for the manufacture of lithium-ion batteries in India. This will promote the emerging electric vehicle sector of the country.
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