Summary:Budget 2025 focuses on economic development, with an emphasis on rural growth, manufacturing, and financial sector reforms. Addressing global economic challenges, the budget prioritizes ten key themes, including support for the poor, women, and youth. Major announcements include the launch of the Dhan Dhanya Yojana in 100 districts, a 6-year mission for pulses, and increased Kisan Credit Card limits. The budget also promotes self-reliance in edible oils, toy manufacturing, and nuclear energy. In infrastructure, India Post will evolve into a logistics hub, and urban development will receive ₹1 lakh crore in funding. Education sees expansion with new IITs, 75,000 medical seats, and broadband connectivity for all government schools. Technology initiatives include AI research centers and a UPI-linked credit card with a ₹30,000 limit. Key reforms in taxation include no tax on income up to ₹12 lakh, TDS simplifications, and senior citizen tax relief. Other significant measures involve custom duty changes on electronic goods and essential medicines, 100% FDI and FPI limits in the insurance sector, and an easier RE-KYC process. Additionally, 40,000 housing units will be developed under the SWAMIH scheme, and 52 tourist destinations will be enhanced. With an increased focus on exports, new mining policies, and ₹20,000 crore for private sector R&D, the budget aims to strengthen economic growth.
Budget 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:
- 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
♦ Biggest Announcement:
No tax on income up to ₹12 lakh!
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