Finance Minister Nirmala Sitharaman made history by presenting the Union Budget 2025-26 in Parliament on February 1, 2025, marking her 8th consecutive budget presentation.
This budget focuses on key sectors like agriculture, industry, health, and education, aiming to benefit the general public and create more job opportunities. It is also a significant step towards building a self-reliant India. Stay tuned for all the important updates on the budget.
No Tax for 12 Lakh Earning Individuals
Now, individuals earning up to ₹12 lakh will not have to pay any income tax. The Finance Minister announced that under the new tax system, updated tax slabs and rates will ensure that income up to ₹12 lakh remains tax-free, provided the person does not have significant interest income.
Union Budget 2025: Key Highlights
FM Nirmala Sitharama announced some key changes in the Union Budget 2025. Check the key highlights of the budget 2025 below:
- Tariff Rates: After removing seven tariff rates in the 2023-24 Budget, the government will eliminate seven more. This will leave only eight tariff rates, with one set at zero. Most duty rates will stay the same, with small reductions for a few items.
- Cess & Surcharge: The government will limit cess or surcharge to just one per item on 82 tariff categories while exempting them from the social welfare surcharge.
- Tourism: The nation's top 50 tourist attractions will be developed, and states will get incentives connected to PLI to support the growth of these regions. granting homestays MUDRA loans and enhancing hotel management's access to additional institutions.
- Nuclear Energy: Nirmala Sitharaman, the finance minister, declared that by 2047, at least 100 GW of nuclear power would be developed. With an investment of Rs 20,000 crore, the Nuclear Energy Mission would conduct research and development on compact modular reactors, with five of these reactors expected to be operationalized by 2033.
- Udan Scheme: The government would introduce a modified UDAN project to connect 120 destinations, according to Finance Minister Nirmala Sitharaman. She stated that the revised plan will benefit almost four crore more passengers over the next ten years when she presented the Union Budget 2025–2026.
ALSO READ: Education Budget 2025: FM Nirmala Sitharaman Key Announcements for School, Colleges and Others
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