Budget 2025: Here Are The 6 Domains Where Reforms Will Be Initiated, As Per FM Nirmala Sitharaman
Budget 2025: Taxation, urban development, mining among the top sectors to see reforms, Sitharaman said.
Budget 2025: Finance Minister Nirmala Sitharaman presented the Union Budget 2025 in Parliament today, marking yet another milestone in her notable tenure. The Budget sets a transformative agenda with six key focus areas: taxation, urban development, mining, financial sector, power, and regulatory reforms.
Budget 2025: Key Announcements & Reforms
Boost for Middle Class: Acknowledging the contribution of the middle class to the economy, Sitharaman announced that individuals earning up to ₹12 lakh annually will be exempt from income tax.
GYAN-Centric Approach: The Budget centres around the pillars of Garib (poor), Yuva (youth), Annadata (farmers), and Nari Shakti (women empowerment) to foster inclusive growth.
Sectoral Improvements: Reforms will be introduced across six major sectors over the next five years:
- Taxation: Simplified rules to enhance compliance.
- Urban Development: Measures to improve infrastructure and connectivity.
- Mining: Policies for sustainable growth and increased output.
- Power Sector: Initiatives to ensure efficient energy distribution.
- Financial Sector: Enhanced regulations for stronger financial systems.
- Regulatory Reforms: Streamlined processes to improve ease of doing business.
Noteworthy Initiatives
- Dhan Dhanya Krishi Yojana: A new scheme for farmers aimed at boosting agricultural productivity.
- Kisan Credit Cards (KCC) Expansion: Short-term loans to continue for over 7.7 crore farmers, fishers, and dairy producers.
- Healthy Eating Campaign: A nationwide program promoting nutrition awareness.
- Bharatiya Bhasha Pushtak Scheme: Efforts to encourage reading in regional languages.
Relief for Senior Citizens and Tax Changes
- The TDS exemption limit on rent increased from ₹2.4 lakh to ₹6 lakh annually.
- For senior citizens, the TDS threshold has been raised from ₹50,000 to ₹1 lakh, easing financial pressures.
Customs Duty Adjustments
- Cheaper cancer medicines, mobile phones, and chargers as customs duties are reduced.
- Duties on gold, silver, and platinum lowered to 6 per cent, while flat panel display duties have increased to 20 per cent.
Economic Mobility and Regional Connectivity
A revised UDAN project is set to improve regional connectivity by adding 120 new locations, benefiting around 4 crore passengers over the next decade.
This year's Budget cements Sitharaman’s reputation as a pioneering Finance Minister, surpassing the records of predecessors like Manmohan Singh and Arun Jaitley. Sitharaman, who introduced a simplified tax system and replaced the colonial-era Budget briefcase with a traditional ‘bahi-khata,’ continues to steer India toward fiscal modernisation.
By making Budget documents fully digital since 2021, the Finance Ministry under Sitharaman's leadership has championed transparency and accessibility. The Union Budget 2025 signifies yet another impactful step toward India's growth and development.
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