Union Budget 2025: Union Finance Minister Nirmala Sitharaman presented the Budget for 2025-26 in the Lok Sabha. As soon as her budget speech began, opposition members created a huge uproar. Despite continuous intervention by the Lok Sabha Speaker, the opposition’s protest continued in the House. In her speech, the Finance Minister stated that the government’s goal was to strengthen women and farmers.
FM Nirmala Sitharaman said- the budget is focused on 5 areas
- Accelerate growth.
- Secure Inclusive Growth.
- Promoting private sector investment.
- Increase in household spending.
- To increase the spending power of India’s emerging middle class.
Salaried individuals earning up to ₹12.75 lakh to pay no tax; Govt waives tax on lower slabs under the new regime
| Sl. No. | Slab (Income Range) | Tax Rate |
|---|---|---|
| 1 | ₹0 to ₹4 lakh | 0% |
| 2 | ₹4 lakh to ₹8 lakh | 5% |
| 3 | ₹8 lakh to ₹12 lakh | 10% |
| 4 | ₹12 lakh to ₹16 lakh | 15% |
| 5 | ₹16 lakh to ₹20 lakh | 20% |
| 6 | ₹20 lakh to ₹24 lakh | 25% |
| 7 | Above ₹24 lakh | 30% |
Income tax payers have got a big relief in Nirmala Sitharaman’s budget. Now salaried people will not have to pay any tax on income up to ₹ 12.75 lakh annually if they choose the new tax regime. This benefit can be availed in this way…
- ₹0 to ₹4 lakh – Nil
- ₹4 to ₹8 lakh – 5%
- ₹8 to ₹12 lakh – 10%
The government will waive off the tax of the second and third slabs under 87A. Apart from this, a standard deduction of ₹ 75 thousand will also be available. In this way, the total income of ₹ 12.75 lakh of employed people will become tax free.
Keep in mind that this relief is only for employed people. If you have income from any other source, the tax exemption limit will be only ₹12 lakh. Also, now all taxpayers will be able to file IT returns for the last 4 years together. Earlier this limit was 2 years. Whereas for senior citizens, the TDS limit has been increased from ₹50 thousand to ₹1 lakh.
Understand the changes in tax slabs
New Tax Regime:
| Sl. No. | Old Slab (Income Range) | Old Rate | New Slab (Income Range) | New Rate |
|---|---|---|---|---|
| 1 | ₹0 to ₹3 lakh | 0% | ₹0 to ₹4 lakh | 0% |
| 2 | ₹3 lakh to ₹7 lakh | 5% | ₹4 lakh to ₹8 lakh | 5% |
| 3 | ₹7 lakh to ₹10 lakh | 10% | ₹8 lakh to ₹12 lakh | 10% |
| 4 | ₹10 lakh to ₹12 lakh | 15% | ₹12 lakh to ₹16 lakh | 15% |
| 5 | ₹12 lakh to ₹15 lakh | 20% | ₹16 lakh to ₹20 lakh | 20% |
| 6 | ₹15 lakh and above | 25% | ₹20 lakh to ₹24 lakh | 25% |
| 7 | ₹24 lakh and above | 30% |
Note: The new tax regime offers full tax exemption for income slabs of ₹4–8 lakh (5%) and ₹8–12 lakh (10%).
Budget 2025: Cancer Drugs, Mobiles, Clothes Get Cheaper! know details here
Cancer medicines are cheaper, cancer care centers in all districts
The government announced to make cancer medicines cheaper in the budget. Cancer day care centers will be built in all the districts of the country in the next 3 years. 200 such centers will be built in the next financial year itself.
The government’s focus was also seen on Bihar, where assembly elections are to be held in October-November this year. Sitharaman announced the establishment of National Institute of Food Technology for Bihar. IIT will be expanded in the state. Makhana Board and 3 new airports will also be built.
Let us know what all became cheaper?
36 Cancer Drugs.
Medical equipment.
LED will be cheaper.
Clothes made in India.
Mobile phone battery.
Cess has been removed from 82 items.
Leather jackets, shoes, belts, wallets.
EV vehicles.
LCD, LED TV
Handloom clothing.
13 announcements for the middle class
- Now there is no tax on income of Rs 12 lakh. For salaried people, the tax limit is Rs 12.75 lakh with a standard deduction of Rs 75,000.
- Tax exemption for senior citizens was doubled.
- TDS limit was increased to Rs 10 lakh.
- You can file updated ITR for 4 years.
- TDS exemption on rental income increased to Rs 6 lakh.
- Mobile phones and e-cars will become cheaper.
- Lithium ion batteries of EV and mobile will be cheaper.
- LED-LCD TVs will become cheaper. Custom duty has been reduced to 2.5%.
- A new income tax bill will be introduced in the country next week.
- An Urban Challenge Fund of Rs 1 lakh crore will be created.
- A plan will be launched to increase the income of the poor in urban areas.
- One lakh incomplete houses will be completed, 40 thousand new houses will be handed over in 2025.
- Jal Jeevan Mission programme to provide tap water to every household will be extended till 2028.
2 announcements for women
- Special loan scheme for MSME women entrepreneurs of SC-ST.
- Women becoming entrepreneurs for the first time will get a term loan of Rs 2 crore.
6 announcements for the elderly
- Tax exemption for senior citizens doubled, from Rs 50,000 to Rs 1 lakh.
- 36 life saving medicines are completely tax free.
- 200 day-care cancer centres will be built in the country.
- Medical equipment and cancer medicines will become cheaper.
- Custom duty on 6 life saving medicines reduced by 5%.
- 13 Patient Assistance Program Outside Basic Custom Duty.
11 announcements for farmers
- The limit of Kisan Credit Card (KCC) has been increased from Rs 3 lakh to Rs 5 lakh.
- PM Dhan-Dhanya Agriculture Scheme will be started in the country. 100 districts will benefit.
- Loan up to Rs 5 lakh for dairy and fish farming.
- Marine products will become cheaper, custom duty reduced from 30% to 5%.
- Fishing in Andaman, Nicobar and deep sea will be promoted.
- Makhana Board will be formed to help the farmers of Bihar.
- The Western Kosi Canal project will be started in Mithilaanchal. Farmers of 50 thousand hectares area will benefit.
- 6 year mission to achieve self-sufficiency in pulses.
- Post Payment Bank payment service will be expanded in rural schemes.
- 5 year action plan for cotton production. Focus on production-marketing.
- A new urea plant will be set up in Namrup, Assam.
11 announcements for the youth
- A fund of Rs 10 thousand crore will be created for startups.
- 3 Ai (Artificial Intelligence) Excellence Centers will be built with Rs 500 crore.
- 75 thousand seats will increase in medical education in the next 5 years.
- 6500 seats will be increased in 23 IITs in the country.
- 10 thousand seats will increase in medical colleges.
- 10 thousand new fellowships will be given under PM Research Fellowship.
- Gyan Bharat Mission will be started in the country, 1 crore manuscripts will be digitized.
- Hostel facilities will be increased in Patna IIT.
- Will promote Make in India, Make for World.
- 5 national level centers will be created to enhance skills.
- Broadband connectivity to all government secondary schools and primary health centres.
10 announcements for traders
- The loan guarantee limit for MSME will increase from Rs 5 crore to Rs 10 crore.
- Proposal to remove social welfare surcharge.
- 7 tariff rates will be removed. Now only 8 tariff rates will remain in the country.
- Global Capability Centers will be built in Tier-2 cities.
- A national plan will be made to make the country a global hub of toy production.
- The new leather scheme will provide employment to 22 lakh people.
- National Institute of Food Technology will be established in Bihar.
- Customized credit cards with a limit of Rs 5 lakh will be issued for micro enterprises.
- 10 lakh customized credit cards will be issued in the first year.
- The loan limit of PM Swanidhi Scheme for urban street vendors will increase to Rs 30 thousand.
Opposition uproar in Parliament
As soon as the Lok Sabha proceedings began, the opposition started creating a ruckus. The speaker has called Finance Minister Sitharaman to read the budget. Many MPs were seen raising slogans.
Jairam Naresh said- Tax terrorism should end
Highlights of Budget 2025-26
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