Govt To Introduce New Income Tax Bill Next Week: FM Sitharaman

In her record 8th straight Budget presentation, the finance minister said, "We see the next five years as unique opportunity to stimulate growth."

Govt to exempt social welfare surcharge on 82 tariff lines that are subject to cess.

Source : PTI

Union Finance Minister Nirmala Sitharaman while presenting the Union Budget 2025-26 said the government will introduce a New Income Tax Bill next week. Sitharaman said the Union Budget 2025-26 continues efforts to accelerate growth and provide inclusive development.

Presenting the 14th consecutive Budget under the Narendra Modi government since 2014, Sitharaman said, "Together we embark on journey to unlock our potential for greater prosperity." She asserted that the Indian economy is fastest-growing among all developing economies.

In her record 8th straight Budget presentation, the finance minister said, "We see the next five years as unique opportunity to stimulate growth."

The other key announcements made by the Finance Minister are:

• Govt to exempt social welfare surcharge on 82 tariff lines that are subject to cess
• Govt to extend mudra loans to homestays; develop 50 tourism sites in partnership with states
• Makhana Board will be established in Bihar to improve production and processing of fox nut
• Govt to launch rural prosperity, resilience programme focussing on youth, women and farmers
• Govt to allocate Rs 10,000 cr under Urban Challenge Fund for 2025-26
• PM Dhan Dhyan Krishi Yojan to benefit 1.7 crore farmers
• Budget to initiate reforms in 6 domains -- taxation, urban development, mining, financial sector, power and regulatory reforms

 

(This is a breaking story and will be updated as more details come.)