Skip to main content

Key Highlights of Union Budget 2025

Income Tax Benefits

  • No income tax on monthly income up to ₹1 lakh, boosting middle-class savings & spending.
  • Salaried individuals earning up to ₹12.75 lakh per year to pay zero tax under the new regime.
  • Updated Income Tax Return (ITR) filing limit extended from 2 to 4 years.
  • TDS on rent threshold increased from ₹2.4 lakh to ₹6 lakh.
  • Delay in TCS payment decriminalized.

Development & Economy

  • 4 engines of growth: Agriculture, MSMEs, Investment, Exports.
  • Fiscal deficit target: 4.8% for FY-25, reducing to 4.4% in FY-26.
  • ₹1 lakh crore Urban Challenge Fund for developing cities as growth hubs.
  • ₹20,000 crore allocated for private sector-driven R&D and innovation.

Agriculture & Rural Development

  • PM Dhan-Dhaanya Krishi Yojana to benefit 1.7 crore farmers in 100 low-productivity districts.
  • Atmanirbharta in Pulses Mission to focus on Tur, Urad, and Masoor dal.
  • KCC loans up to ₹5 lakh under modified interest subvention scheme.

MSMEs & Manufacturing

  • MSME credit guarantee cover doubled from ₹5 crore to ₹10 crore.
  • National Manufacturing Mission launched for Make in India growth.
  • ₹15,000 crore SWAMIH Fund to complete 1 lakh stressed housing units.

Education & AI

  • 50,000 Atal Tinkering Labs to be set up in government schools over 5 years.
  • ₹500 crore allocated for a Centre of Excellence in Artificial Intelligence for education.

Employment & Gig Economy

  • Gig workers to get ID cards, e-Shram registration, and healthcare under PM Jan Arogya Yojana.
  • PM SVANidhi Scheme expanded with enhanced loans & UPI-linked credit cards up to ₹30,000.

Infrastructure & Energy

  • ₹20,000 crore allocated for Nuclear Energy Mission on small modular reactors R&D.
  • Modified UDAN Scheme to improve regional air connectivity with 120 new destinations.

FDI & Legal Reforms

  • FDI limit in insurance increased from 74% to 100%.
  • Jan Vishwas Bill 2.0 to decriminalize 100+ provisions in various laws.

Custom Duty (BCD) Reforms

  • Zero BCD on 36 life-saving drugs, including those for cancer & chronic diseases.
  • BCD changes to promote manufacturing:
    • IFPD panels: Duty increased to 20%.
    • Open cell parts: Duty exempted to boost domestic production.
    • EV & mobile battery production: Additional capital goods exempted.
    • Shipbuilding raw materials & components: 10-year BCD exemption.
    • Frozen fish paste & fish hydrolysate: Duty reduced from 30% to 5% and 15% to 5% respectively.

This Budget aims to ease taxation, boost economic growth, promote manufacturing, and enhance social welfare while maintaining fiscal discipline.

Labels:

Comments

Post a Comment

Popular posts from this blog

What is Lavani Patta Land?

 In Telangana, there are different types of lands titles that provide land ownership. Here Lands are segregated into Private land and Government Assigned Land, and the land owned by an individual who has Record Of Rights ROR on his name, and has legal land title ownership. Whereas government-assigned land is allotted to any individual who belongs to a BPL Below Poverty Level family to elevate their economic standards is termed as Government Assigned Land. Here it has ownership land title on an individual’s name, but assigned lands cannot be sold or transferred to anyone. To obtain a Lavani Patta one can get it from the Revenue Department of the state. The Chief Commissioner of Land Administration (CCLA) is the chief controlling authority for the revenue administration. Usually, the Tahsildar is the competent authority to assign the lands. Here, 50 percent land is assigned to Schedule Castes, 10 percent to Schedule Tribe, 30 percent to the backward classes, and the res...
Post a Comment
Read more

Top 5 RERA Punishments every buyer must know.

PUNISHMENT PRESCRIBED FOR NON-REGISTRATION OF A PROJECT UNDER THE RERA ACT   ·           10 percent penalty of the estimated cost of the project.   ·          As per section 59, where under the Act, it is obligatory for the promoter to register a project with the Authority, and the promoter fails to do the same, he shall be liable to a penalty of up to 10 percent of the estimated cost of the real estate project.  Non-registration of the project may also liable for 3 years of punishment. ·         However, in the case of the promoter consistently defaults or does not comply with the directions/orders of the Authority as regards registration of the project with the Authority, he shall be liable to an additional fine of ten percent of the estimated cost of the real estate project or imprisonment up to 3 years or both.   Penalty for violation of section 4(App...
Post a Comment
Read more

Hibanama: A Universally Applicable Mechanism for Dispute Resolution

In the diverse fabric of India, the term “Hibanama” transcends religious boundaries, serving as a consensual mechanism for dispute resolution applicable to all communities. This blog explores the universality of Hibanama, debunking any misconceptions about its exclusivity to a particular religious group. Understanding Hibanama: Contrary to any misconceptions, Hibanama is not exclusive to the Muslim community but is a legal concept applicable to individuals of all religions in India. Rooted in the principles of voluntary resolution, Hibanama emphasizes mutual agreement and compromise in the face of legal disputes, irrespective of religious affiliations. Applicability to All Communities: Hibanama in Hindu Law: Hindu law recognizes the importance of amicable settlements, and Hibanama aligns seamlessly with this ethos. Parties involved in property disputes, family matters, or contractual disagreements within the Hindu community can opt for Hibanama to expedite justice. Hibanama...
Post a Comment
Read more