Civil Services / Economy

Union Budget 2025: Finance Minister Nirmala Sitharaman’s Key Announcements

by wondergirl · Published February 1, 2025 · Updated February 1, 2025

Summary

The government’s focus in the budget is on development 📈…
Global growth slightly affected due to global tensions 🌍⚡️…
The budget emphasizes 10 key themes 🏗…

More focus on the development of the poor 🏡, women 👩‍💼, and youth 👨‍🎓…
Increased emphasis on rural development 🚜 and manufacturing 🏭…
More reforms to be introduced in the financial sector 💰…

🔹 Key Announcements:

🎉 Biggest Announcement:
No tax on income up to ₹12 lakh! 💰🎊

✅ Dhan Dhanya Yojana 🌾 to be launched in 100 districts…
✅ Special 6-year mission for Tur, Urad, and Masoor dal 🌱…
✅ Makhana Board 🍘 to be set up in Bihar…
✅ Central agencies 🏢 to purchase pulses for 4 years…
✅ New schemes 🌱 for vegetable and fruit 🍏 production in collaboration with states…
✅ Development of the marine sector 🐟…
✅ Kisan Credit Card 💳 limit increased to ₹5 lakh…
✅ Urea plant 🏭 to be set up in Assam…
✅ India Post 📦 to be developed as a major logistics organization 🚚…
✅ Special credit card 💳 for small businesses…
✅ Self-reliance in edible oils 🛢…
✅ Special schemes for footwear 👞 and leather 👜…
✅ India to become a global hub for toys 🧸…
✅ Special scheme for women from backward classes 👩‍👩‍👧‍👦…
✅ 22 lakh new jobs 🏢👷 to be created under the Leather Scheme…
✅ Launch of the National Manufacturing Mission 🏗…
✅ Increased emphasis on Indian languages 📖 in education…
✅ More IIT institutes 🎓 to be established…
✅ 75,000 new seats 🏥 in the medical field in the next 5 years…
✅ Special AI 🤖 research centers to be set up…
✅ Health insurance 🏥💊 scheme for small workers…
✅ UPI-linked card 💳 for small vendors…
✅ UPI-linked credit card limit set at ₹30,000 💰…
✅ Interest-free funds 🏗💵 for states to boost infrastructure development…
✅ ₹1 lakh crore fund 💰 announced for urban development 🏙…
✅ Increased focus on nuclear energy ⚛️ by 2047…
✅ Special scheme for nuclear energy ⚛️…
✅ Special scheme for the ship-breaking industry 🚢⚙️…
✅ More cities 🏙 to be connected under the ‘Udaan’ 🛫 scheme…
✅ New airport ✈️ to be constructed in Bihar…
✅ 40,000 housing units 🏡 to be built under the SWAMIH scheme…
✅ 52 new tourist destinations 🏝 to be developed in collaboration with states…
✅ New mining policy ⛏️ to be introduced…
✅ ₹20,000 crore investment 💰 in R&D 🔬 for the private sector…
✅ All government secondary schools 🏫 to be connected with broadband 🌐…
✅ New schemes to boost exports 📦…
✅ Buddha-related sites 🏯 to be developed…
✅ Special scheme for preserving Indian scripts 📜…
✅ Easier access to funds 💵 for export promotion…
✅ New Income Tax Bill 📜 to be introduced next week…
✅ 100% FDI limit 🌍 in the insurance sector 🏦…
✅ Simplification of RE-KYC process 📑…
✅ 100% FPI limit 📊 in the insurance sector…
✅ Custom duty removed 🚫💊 on 36 life-saving medicines…
✅ Changes in custom duty on electronic goods 📱…
✅ No primary duty on lead & zinc ⚒️…
✅ Duty removed 🚫 on crust leather 👜…
✅ New, simplified Income Tax law 🏦📜 to be introduced…
✅ TDS rates to be made simpler 📉…
✅ Major tax relief for senior citizens 👴👵…
✅ Tax exemption limit for senior citizens increased to ₹1 lakh 💰…
✅ TDS exemption limit on rent 🏠 increased to ₹6 lakh…
✅ No penalty 🚫 on delayed TCS payments…

10:53: Budget 2025 Set for Parliament: Cabinet Gives Approval

Just ahead of its presentation in Parliament, the Union Budget 2025-26 received the necessary approval from the Union Cabinet on Saturday. Prime Minister Narendra Modi presided over the cabinet meeting. Other ministers present included Amit Shah, Rajnath Singh, Gajendra Singh Shekhawat, and Pralhad Joshi.