Union Budget 2025: Important takeaways from Budget 2025Union Budget 2025: Important takeaways from Budget 2025

Union Finance Minister Nirmala Sitharaman, in her eighth consecutive budget presentation, unveiled a series of initiatives aimed at fostering inclusive growth and bringing relief to various sections of society.

Under the visionary leadership of Prime Minister Narendra Modi, one of the major highlights of the Union Budget 2025-26 is the significant revision of income tax slabs, which will benefit the middle class and common citizens across the country.

Middle-Class Tax Relief

A significant relief for the middle class has been introduced under the Union Budget 2025-26. Income up to ₹12 lakh will now be tax-free, benefiting millions of common citizens. The new tax slabs are as follows:

₹0 to ₹4 lakh – Nil

₹4 lakh to ₹8 lakh – 5%

₹8 lakh to ₹12 lakh – 10%

₹12 lakh to ₹16 lakh – 15%

₹16 lakh to ₹20 lakh – 20%

₹20 lakh to ₹24 lakh – 25%

Above ₹24 lakh – 30%

Bihar Development Focus

In her budget speech, Finance Minister Nirmala Sitharaman announced initiatives aimed at boosting Bihar’s economy, which is set to go to polls later this year. Key measures include the establishment of a National Institute of Food Technology and the creation of a Makhana Board to support local farmers.

Infrastructure and Regional Connectivity

The government plans to expand infrastructure in five IITs, with a focus on IIT Patna. A new UDAN scheme will improve regional connectivity, adding 120 new destinations and serving 4 crore additional passengers over the next decade, benefiting the northeastern and hilly districts.

FDI and Insurance Sector Reforms

The FDI limit for the insurance sector will be raised from 74% to 100% for companies that invest the entire premium in India. The government will also review and simplify the current conditions related to foreign investments.

Agricultural Growth and Self-reliance

The Budget allocates funds to enhance agricultural productivity. A six-year program will be launched to achieve self-reliance in pulses, focusing on tur, urad, and masoor dals. Additionally, the PM Dhan Dhany Krisihi Yojna will support 1.7 crore farmers.

Support for Micro-Enterprises

Customised credit cards with a ₹5 lakh limit will be introduced for micro-enterprises. The government is also setting up a ₹10,000 crore fund for startups to encourage entrepreneurship and support innovation across the country.

Healthcare Expansion

In healthcare, the government will add 10,000 medical college seats in the next year, with 75,000 seats added over the next five years. The Budget also includes plans for daycare cancer centres in district hospitals over the next three years.

Support for Women Entrepreneurs

The government is launching a scheme to support 5 lakh women SC/ST first-time entrepreneurs with term loans up to ₹2 crore. This initiative builds on the success of the Standup India scheme, aiming to empower women and foster entrepreneurship.

Fiscal Deficit and Economic Growth

The fiscal deficit for FY2025 is estimated at 4.4% of GDP. The government’s initiatives focus on balanced growth, infrastructure development, and welfare schemes, positioning the economy for long-term sustainable development.

Empowering Gig Workers

A new initiative will provide identity cards and registration for 1 crore gig workers through the e-shram portal. This move is designed to enhance job security and support the growing gig economy in India.

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