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Union Budget 2025 highlights: Nirmala Sitharaman bets on income tax breaks to spur growth
Union Budget 2025 highlights: Lauding the new tax regime, PM Modi said that his government seeks to put more money in the pockets of people, increase savings and make citizens partners in the development journey.
Union Budget 2025 highlights: Making the Union Budget 2025 ‘pro-middle class’, finance minister Nirmala Sitharaman announced on Saturday that zero income tax will be levied till ₹12 lakh income under the revised new tax regime. The new and “simpler” income tax bill will be introduced next week, she said....Read More
Soon after her budget address, Prime Minister Modi hailed the Union Budget 2025 as a "Force Multiplier" for India's development journey, describing it as a "budget of aspirations" for 140 crore Indians.
Meanwhile, the economists also approved of Sitharaman's budget calling ‘need of the hour’ and 'fiscal wizardry’ of the numbers.
Union Budget 2025 | Key points
-Income tax relief: Amid high anticipation of tax measures and relief to the middle class, finance minister Nirmala Sitharaman announced that she will introduce the new income tax bill next week. Finance minister Nirmala Sitharaman announced that no income tax will be levied up to ₹12 lakh under the new tax regime. Check all details on revised tax rates here
-PM Modi calls it ‘people’s budget': Prime Minister Narendra Modi on Saturday lauded finance minister Nirmala Sitharaman and team for delivering what he called was ‘people’s budget', which he said will fulfil the dreams of Indians. The budget will increase savings, investments, consumption and growth, PM Modi said, adding that this Union Budget 2025 focuses not on filling government's coffers but filling the pockets of the people of the country.
Key announcements of Budget 2025: Among the key measures of Budget 2025, Nirmala Sitharaman announced new classification criteria for MSMEs, a modified ‘Udaan’ scheme, focused scheme for to promote footwear and leather sectors and addition of 75,000 medical seats in the next five years.
-Nirmala Sitharaman's 8th budget presentation: Nirmala Sitharaman has become the first finance minister to present the budget for eight consecutive times, however, she does not hold the record for presenting the most budgets.
-'Aatmanirbharta' in pulses: To boost 'aatmanirbharta [self reliance]' in pulses, the government launched a 6-year mission with special focus on tur, urad and masoor, emphasising development and commercial availability of climate resilient seeds, enhancing protein content, increasing productivity among other things.
-Scheme for first time Entrepreneurs: For 5 lakh first-time entrepreneurs, including women, Scheduled Castes and Scheduled Tribes, a new scheme will be launched to provide term loans up to ₹2 crore during the next 5 years, announced FM Sitharaman on Saturday.
-'Udaan' scheme modified: Nirmala Sitharaman announced while presenting Union Budget 2025 that a modified ‘UDAN’ scheme will be launched to enhance regional connectivity to 120 new destinations and carry four crore passengers in the next 10 years. The scheme will also support helipads and smaller airports in hilly, aspirational, and North East region districts.
-Greenfield airports in Bihar: Greenfield airports will be facilitated in Bihar to meet the future needs of the State. These will be in addition to the expansion of the capacity of Patna airport and a brownfield airport at Bihta.
To get Budget 2025 updates in Hindi, follow Live Hindustan's coverage here
PinnedUnion Budget 2025 LIVE: Key features of Budget 2025
Budget 2025 LIVE: The biggest takeaway from Nirmala Sitharaman's Budget for fiscal year 2025-26 (FY 2025-26) was the landmark income tax rebate announced for people with incomes up to ₹12 lakh.
Apart from the above, key measures of Budget 2025 presented by finance minister Nirmala Sitharaman include new classification criteria for MSMEs, a modified ‘Udaan’ scheme, focused scheme for to promote footwear and leather sectors and addition of 75,000 medical seats in the next five years among other proposals.
Key features of Union Budget 2025
-Income tax rebate: In big relief to middle class, finance minister Nirmala Sitharaman made income up to ₹12 lakh tax free. While the revised tax rate structure still mentions nil tax on income of ₹0-4 lakh 10 per cent tax on income of ₹8-12 lakh and 15 per cent tax on income of ₹12-16 lakh, Nirmala Sitharaman said, “To tax payers up to ` 12 lakh of normal income (other than special rate income such as capital gains) tax rebate is being provided in addition to the benefit due to slab rate reduction in such a manner that there is no tax payable by them.”
-'Aatmanirbharta' in pulses: To boost ‘aatmanirbharta’ or self reliance in pulses, the government launched a 6-year mission with special focus on tur, urad and masoor, emphasising development and commercial availability of climate resilient seeds, enhancing protein content, increasing productivity among other things.
-Scheme for first time entrepreneurs: For 5 lakh first-time entrepreneurs, including women, Scheduled Castes and Scheduled Tribes, a new scheme will be launched to provide term loans up to ₹2 crore during the next 5 years, announced FM Sitharaman on Saturday.
-'Udaan' scheme modified: Nirmala Sitharaman announced while presenting Union Budget 2025 that a modified ‘UDAN’ scheme will be launched to enhance regional connectivity to 120 new destinations and carry four crore passengers in the next 10 years. The scheme will also support helipads and smaller airports in hilly, aspirational, and North East region districts.
-Greenfield airports in Bihar: Greenfield airports will be facilitated in Bihar to meet the future needs of the State. These will be in addition to the expansion of the capacity of Patna airport and a brownfield airport at Bihta.
-Medical seats: In the next year, 10,000 additional seats will be added in medical colleges and hospitals, towards the goal of adding 75,000 seats in the next five years, finance minister Nirmala Sitharaman said.
-Tax relief for senior citizens: Tax deduction limit for senior citizens doubled from ₹50,000 to ₹1 lakh.
-TDS: The annual limit of ₹2.40 lakh for TDS on rent increased to ₹6 lakh.
-MSMEs: The investment and turnover limits for classification of all MSMEs will be enhanced to 2.5 and 2 times, respectively, to give them the confidence to grow and generate employment for our youth.
-Government to develop top 50 tourist sites: The central government will develop 50 tourist destination sites in the country in partnership with states through a challenge mode, finance minister Nirmala Sitharaman said in her budget speech.
Budget 2025 LIVE: Sensex in green
Sensex was in green at around 9:30 am, trading at 77,622.28 up by 121.71 points ahead of Union Budget 2025.
Budget 2025 LIVE: FM Sitharaman meets President Murmu
Union Budget 2025 LIVE: Finance minister Nirmala Sitharaman and MoS Finance Pankaj Chaudhary met President Droupadi Murmu at the Rashtrapati Bhavan ahead of presentation of Union Budget 2025.
Union finance minister Nirmala Sitharaman will present at Lok Sabha from 11 am today.
Budget 2025 LIVE: 5 points on Budget 2025
- Finance minister Nirmala Sitharaman will present the Union Budget 2025-26 in Parliament today.
- Finance minister Nirmala Sitharaman is expected to start her budget speech at 11 am in Parliament.
- While this is the first budget of PM Modi-led governments third term, this is the eighth consecutive budget presentation of Nirmala Sitharaman, who will become the only finance minister to register this feat.
- The Union Budget 2025 has been surrounded by speculation of tax reliefs, which grew after President Droupadi Murmu and Prime Minister Narendra Modi referred to middle class multiple times in their addresses on Friday in Parliament, signalling a relief.
- The Budget Session 2025 will be in two phases - first from Jan 31 till Feb 13 and the second one from March 10 to April 4.
Budget 2025 LIVE: All about Nirmala Sitharaman's saree
Union Budget 2025 LIVE: For Budget 2025 presentation, finance minister Nirmala Sitharaman is wearing a saree as a tribute to Madhubani Art and the skill of Padma awardee Dulari Devi.
Dulari Devi is a 2021 Padma Shri awardee. When finance minister visited Mithila Art Institute in Bihar's Madhubani for a credit outreach activity, she met Dulari Devi and had a cordial exchange of thoughts on Madhubani art in Bihar. Dulari Devi had presented the saree and asked Nirmala Sitharaman to wear it for the budget day.
Budget 2025 LIVE: ‘Have no expectation from Budget 2025’, says Congress
Congress leader Sandeep Dikshit said they “have no expectations from the budget”.
"They have been presenting it for 10-11 years and have done nothing substantial. We just need to see how many dimensions they brought to give relaxation to their friends, big capitalists... They may try to lure people through some promises as elections are there in Delhi...," Dikshit told news agency ANI.
Budget 2025 LIVE: Stock market opens flat ahead of Budget 2025
Union Budget 2025 LIVE: Stock market indices Sensex and Nifty opened little changed in a special session for the union budget on Saturday, with investors hoping for consumption-boosting measures amid an economic slowdown due to high inflation and anemic wage growth.
The Nifty 50 was up 0.13% at 23,541.3 points, as of 9:15 a.m. IST, while the BSE Sensex added 0.18% to 77,637.01. The debt and forex markets will remain closed.
(via Reuters)
Budget 2025 LIVE: FM Sitharaman shows tablet containing budget doc
Union Finance Minister Nirmala Sitharaman shows the tablet containing Budget documents before leaving for the Parliament from Finance Ministry.
Budget 2025 LIVE: PM Modi, President dropped hints of relief to middle class?
Union Budget 2025 LIVE: Prime Minister Narendra Modi and President Droupadi Murmu's reference to middle class in Parliament on Friday raised the expectation that there will be several announcements for the middle class in the Union Budget 2025.
PM Modi, delivering his customary address ahead of the commencement of Budget Session 2025, invoked goddess of wealth for elevating poor and middle class.
“I pray to Goddess Lakshmi that the poor and the middle-class sections in the country are blessed by her,” PM Modi said on Friday outside Parliament before the start of the Budget session.
President Droupadi Murmu on Friday said the government is committed to fulfilling the dream of middle-class people to own residential properties and is providing interest subsidies on home loans.
President Murmu was addressing a joint sitting of Parliament.
Budget 2025 live: Budget used to be presented on this day till 2017
Union Budget 2025 LIVE: The Budget presentation date was changed in 2017 from February 29 to February 1. The change allowed the government to complete the Parliamentary approval process by March-end and allow implementation of the Budget from the start of the fiscal on April 1.
Presenting the Budget on February 29 meant that the implementation could not start before May/June after accounting for 2-3 months of the parliamentary approval process.
Budget 2025 LIVE: FM Sitharaman reaches finance ministry
Union Budget 2025 LIVE: Finance Minister Nirmala Sitharaman has reached the Ministry of Finance. She is expected to start presenting the Union Budget 2025 in Parliament from 11 am today.
Budget 2025 LIVE: Will FM Nirmala Sitharaman carry budget in bahi khata?
This year's Budget would be in paperless form, as done in the last three years.
Finance minister Nirmala Sitharaman had in her first Budget in 2019 replaced the leather briefcase -- which had been in use for decades for carrying Budget documents -- with a traditional 'bahi khata' wrapped in red cloth.
Budget 2025 LIVE: Nirmala Sitharaman leaves from residence
Union Budget 2025 LIVE: Finance Minister Nirmala Sitharaman leaves from her residence in Delhi. She will present the Union Budget 2025 in Parliament today.
Budget 2025 LIVE: The shortest budget speech had just 800 words
In 1977, the budget speech of the then finance minister Hirubhai Mulljibhai was of just 800 words, the shortest ever.
Budget 2025 LIVE: ‘Everything will be out by 12 pm’, says MoS Finance Pankaj Chaudhary
Union Budget 2025 LIVE: Surrounded by media queries on Union Budget 2025, MoS Finance Pankaj Chaudhary said today, "Everything will be before you by 12 pm...Have some patience. You will get to know everything..."
Budget 2025 LIVE: Finance ministry abuzz ahead of budget presentation
Union Budget 2025 LIVE: MoS Finance Pankaj Chaudhary has reached the Ministry of Finance ahead of the presentation of Budget 2025 by finance minister Nirmala Sitharaman.
Budget 2025 LIVE: Budget presentation time
Finance minister Nirmala Sitharaman will start the presentation of the Union Budget 2025 at 11 am today in Parliament.
Budget 2025 LIVE: Chief economic advisor reaches finance ministry
Budget 2025 LIVE: Chief Economic Advisor Dr V Anantha Nageswaran has reached the Ministry of Finance ahead of presentation of Union Budget 2025 by finance minister Nirmala Sitharaman in Parliament today.
Budget 2025 LIVE: Hopes of tax cut in Sitharaman's budget run high
Union Budget 2025 LIVE: Hopes of cut or tweak in income tax rates or slabs to ease the burden of middle class are running high ahead of the presentation of Union Budget by finance minister Nirmala Sitharaman, who will be creating record for eighth consecutive budget presentation.
The Budget for the fiscal year starting April 1 is expected to contain measures to shore up weakening economic growth while being fiscally prudent. It is likely to focus on steps to boost consumption while sticking to the roadmap of narrowing the fiscal deficit.
Expectations of relief on income tax, particularly for lower middle class, is high after Prime Minister Narendra Modi invoked goddess of wealth for elevating poor and middle class.
"I pray to Goddess Lakshmi that the poor and the middle-class sections in the country are blessed by her," PM Modi said on Friday while speaking to reporters outside Parliament before the start of the Budget session.
(via PTI)
Budget 2025 LIVE: How will stock market perform today?
Union Budget 2025 LIVE: Indian stock market is expected to open little changed in a special session for the Union Budget today, with investors watching for consumption-boosting measures amid an economic slowdown due to high inflation and anemic wage growth.
The GIFT Nifty futures closed at 23,505 on Friday, indicating the blue-chip NSE Nifty 50 is likely to open near Friday's close of 23,508.4. The debt and forex markets will remain closed.
(via Reuters)
Budget 2025 LIVE: Who holds record for longest budget speech?
Union Budget 2025 LIVE: Finance minister Nirmala Sitharaman's holds the record for delivering the longest budget speech. Nirmala Sitharaman's February 1, 2020, budget speech is the longest. That budget speech lasted two hours and 40 minutes. At the time, she cut short her speech with two pages still remaining.
The shortest budget speech of just 800 words was delivered by Hirubhai Mulljibhai Patel in 1977. It was an interim Budget speech.
Budget 2025 LIVE: Commercial LPG gas cylinder prices revised
Budget 2025 LIVE: Ahead of Union Budget 2025, Oil marketing companies have revised the prices of commercial LPG gas cylinders. The rate of 19 KG commercial LPG gas cylinders has been reduced by ₹7 with effect from today.
In Delhi, the retail sale price of a 19 kg commercial LPG cylinder is ₹1797 from today.
Budget 2025 LIVE: Finance minister Nirmala Sitharaman's ‘bahi-khata’
Budget 2025 LIVE:Finance Minister Nirmala Sitharaman, who is presenting her 8th straight Union Bugdet today, had in her first Budget in 2019 replaced the leather briefcase with a traditional 'bahi-khata' wrapped in red cloth.
This year's Budget would be in paperless form, as done in the last three years.
Budget 2025 LIVE: Old vs new tax regime
Budget 2025 LIVE: The Union Budget 2025 has sparked buzz whether there will be any revision of tax regime or not. Sources cited across news reports said the government could be considering hiking income tax slabs and enhancing the standard deduction to address the concerns of middle-class taxpayers amid rising inflation.
The new tax regime was announced in the Union Budget 2024. In the new tax regimes, rates were simplified, with a structure that starts with tax-free income up to ₹3 lakh.
New regime tax slabs:
- Income between ₹3 lakh and ₹7 lakh: Taxed at 5%.
- Income between ₹7 lakh and ₹15 lakh: Taxed at 10%.
- Income above ₹15 lakh: Taxed at 30%.
This regime was designed to be simpler, with no need for taxpayers to claim deductions or exemptions, making it easier to file taxes for individuals with straightforward incomes.
Old tax regime
The old tax regime allows individuals to claim several deductions and exemptions, which can reduce taxable income significantly:
Old regime tax slabs
- Up to Rs. 3 lakhs - Nil
- ₹3 – 6 lakh - 5%
- ₹6 – 9 lakh - 20%
- ₹9-12 lakh - 30%
The old tax regime allows deductions and exemptions like:
₹1,50,000 under Section 80C for investments (e.g., PPF, ELSS).
₹50,000 as a standard deduction for salaried individuals.
Up to ₹2,00,000 for home loan interest under Section 24(b).
These deductions provide advantage for those who make the most of them, particularly those with higher expenses or investments that qualify for tax breaks.
Budget 2025 live: Deloitte India economist says income tax cuts likely
Budget 2025 LIVE: Taxpayers, particularly lower middle tax, are likely to get relief in the Union Budget set to be presented by finance minister Nirmala Sitharaman today as the Prime Minister Narendra Modi government looks to boost consumption to spur a shuttering economy, news agency PTI quoted Deloitte India economist Rumki Majumdar as saying.
Rumki Majumdar saw the finance minister giving relief to taxpayers who have opted for the new tax regime that offers no exemptions but a higher base for levying tax. This could be particularly for those in the ₹7 lakh to ₹10 lakh annual income category.
Budget 2025 live: Independent India's first-ever budget
Budget 2025 LIVE: Independent India's first-ever Union Budget was presented on November 26, 1947, by the country's first finance minister RK Shanmukham Chetty.
Ramasamy Chetty Kandasamy Shanmukham Chetty KCIE, a lawyer, economist and politician, served as first finance minister of India from 1947 to 1948.
