Union Budget 2025 Highlights
Finance Minister Nirmala Sitharaman presented the Union Budget 2025 in Parliament, announcing several key measures aimed at providing relief and boosting various sectors of the economy. Here are the major highlights:
-
Income Tax Relief
Zero income tax will be levied on incomes up to ₹12 lakh under the new tax regime, providing significant relief to the middle class.
-
New Income Tax Bill
A new and simpler income tax bill will be introduced next week to streamline the tax process.
-
Agriculture and MSMEs
The budget includes a slew of measures to support agriculture and Micro, Small, and Medium Enterprises (MSMEs), aiming to boost these critical sectors.
-
Health Sector
Full exemption from customs duties for 36 life-saving drugs, including those for cancer and other rare and chronic diseases.
-
Urban Development
Introduction of a ₹1 lakh crore Urban Challenge Fund to transform cities into growth hubs.
-
Nuclear Energy
Launch of a Nuclear Energy Mission to develop 100 GW of nuclear power by 2047.
-
MSMEs Support
Customized credit cards for MSMEs and a fund of funds for startups to improve capital access.
-
Middle Class
Measures to enhance the spending power of India’s growing middle class.
This budget marks Finance Minister Nirmala Sitharaman’s record eighth consecutive Union Budget presentation, making her the only finance minister to achieve this feat.
Union Budget 2025 | Key Points
- Key Announcements: Among the key measures of Budget 2025, Nirmala Sitharaman announced new classification criteria for MSMEs, a modified ‘Udaan’ scheme, a focused scheme to promote the footwear and leather sectors, and the addition of 75,000 medical seats in the next five years.
- Income Tax Relief: Amid high anticipation of tax measures, Finance Minister Nirmala Sitharaman announced that she will introduce the new income tax bill next week. No income tax will be levied up to ₹12 lakh under the new tax regime.
- Budget Time: Finance Minister Nirmala Sitharaman is presenting the Union Budget for the financial year 2025-26. The presentation of Budget 2025 started at 11 am.
- Nirmala Sitharaman’s 8th Budget Presentation: Nirmala Sitharaman has become the first finance minister to present the budget for eight consecutive times, although she does not hold the record for presenting the most budgets.
- Budget Session 2025 in 2 Phases: The Budget Session 2025 of Parliament commenced on Friday, January 31, with President Droupadi Murmu’s address to both Houses. According to the Parliamentary Bulletin, the Budget Session will be in two phases: The first phase began on January 31, includes the Union Budget presentation on February 1, and will conclude on February 13; the second part of the session will commence on March 10 and will conclude on April 4.
- Stock Market Opens Flat Ahead of Budget 2025: Hours before the presentation of Union Budget 2025, the stock market opened flat on Saturday. The stock market is open on Saturday in a special session for the Union Budget.