Union Budget 2025: No Income Tax To Those Earning Up to Rs 12 lakh- Top Highlights Of Nirmala Sitharaman's Speech

Budget 2025: Nirmala Sitharaman gave the middle class a huge boost when she declared that anyone earning up to Rs 12 lakh would not be subject to taxes.

Budget 2025: Key Takeaways

Source : PTI

Union Budget 2025 LIVE: Finance Minister Nirmala Sitharaman's announcement that those earning up to Rs 12 lakh would not be subject to taxes was a significant boost to the middle class. 

Presenting her eighth consecutive budget, Union Finance Minister Nirmala Sitharaman stated that the government's efforts to boost growth, ensure inclusive development, stimulate private sector development, and increase the purchasing power of India's growing middle class would continue in the Union Budget for 2025–2026.

Sitharaman stated at the outset that the Budget's suggested development policies cover ten major categories, with a particular emphasis on women, farmers, the impoverished, and youth. These are the main points of Nirmala Sitharaman's speech about the budget:

Relief For Middle Class 

• The economy benefits from the middle class. They would not be subject to income tax up to Rs 12 lakh in recognition of their contribution.
• The budget is centered around GYAN, which stands for Garib, Yuva, Annadata, and Nari Shakti.

Improvements In Six Areas:

• Urban development
• Mining
• Taxation
• The electricity industry
• The banking sector
• Regulations

Goal Of Government

• The only goal of the government is to increase agricultural productivity.
• In the following ten years, a modified UDAN project will be introduced to convey 4 crore more people and improve regional connections to 120 new locations.
• For the insurance sector, the FDI cap would be increased from 74% to 100%.

New Scheme

• Dhan Dhanya Krishi Yogana Launched For Farmers

Kisan Credit Cards Limit

• Kisan Credit Cards (KCC) would continue to provide short-term loans to 7.7 crore farmers, fishers, and dairy producers, according to Finance Minister Nirmala Sitharaman.

Push For Healthy Eating

• Nirmala Sitharaman acknowledges the public's increasing awareness of their nutritional needs by announcing a comprehensive program for fruits and vegetables.

Bharatiya Bhasha Pushtak Scheme

• Nirmala Sitharaman, the finance minister, declared that the Bharatiya Bhasha Pushtak Scheme would be put into action.

Relief For Senior Citizen (TDS)

• During the presentation of the Union Budget 2025, Finance Minister Nirmala Sitharaman highlighted changes to tax deductions at source (TDS) and an emphasis on helping senior citizens with their financial difficulties.
• From Rs 2.40 lakh to Rs 6 lakh, Nirmala Sitharaman increased the annual cap on TDS on rent.
• The TDS for older citizens will be rationalized, and the threshold will be raised from Rs 50,000 to Rs 1,00,000.

EVs, Mobiles, Medicines Get Cheaper

• Customs duties are reduced on cancer medications, cell phones, and chargers.
• Duties on gold, silver, and platinum have been lowered to 6%, 6.4%, and 6.4%, respectively.
• The duties on flat panel displays went from 10% to 20%.