The Union Budget 2025: A Complete Overview, presented by Finance Minister Nirmala Sitharaman, is a forward-looking financial plan aimed at boosting economic growth, improving infrastructure and providing tax relief.
Income Tax Reforms
Exemption limit increased: The income tax exemption limit has been increased to ₹ 12 lakh, providing significant relief to the middle class.
Simplification of tax procedures: A new income tax bill will be introduced to simplify tax procedures, focusing on a "trust first, review later" approach.
Agriculture and Rural Development
PM Dhan-Dhaanya Krishi Yojana: This scheme aims to develop agricultural districts, benefiting 1.7 crore farmers.
Pulses Mission: A six-year mission to achieve self-sufficiency in pulses like Tur, Urad and Masoor through high-yielding seeds.
Makhana Board: Establishment of a board in Bihar to improve production, processing and marketing of makhana.
Education and Skill Development
Atal Tinkering Labs: 50,000 labs to be set up in state schools in the next five years to promote innovation and creativity.
Expansion of Medical Education: 10,000 additional seats in medical institutes, with a target of 75,000 new seats in five years.
Infrastructure and Technology
Greenfield Airports: New airports to be developed in Bihar to improve connectivity and boost regional development.
National Geospatial Mission: Launch of a mission to improve the country's geospatial data infrastructure.
Support for MSMEs
Personalized Credit Cards: Introduction of credit cards with a limit of ₹ 5 lakh for micro enterprises registered on the Udyam portal.
Term Loans: MSMEs can avail term loans of up to Rs 20 crore to support their growth and expansion.
Tourism and Hospitality
UDAN Extended Programme: UDAN Programme expanded to 120 new destinations to improve regional air connectivity.
SWAMIH Fund: Completion of 40,000 housing units under the SWAMIH Fund by 2025 to address the housing shortage.
Environmental Initiatives
Nuclear Energy Mission: A mission has been launched to advance nuclear energy projects, contributing to clean energy goals.
Second Gene Bank: Creation of a second gene bank to ensure future food security and preserve biodiversity.
This budget reflects a balanced approach, which aims to stimulate economic growth while meeting social protection needs. It focuses on key sectors such as agriculture, education and infrastructure and provides significant tax relief for the middle class, promoting a more inclusive and prosperous economy.
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