Today on February 1, Finance Minister Nirmala Sitharaman has presented the Union Budget 2025. In which relief has been given especially to the middle class people. Along with this, many big announcements have been made for agriculture and education sector to hospital sector. Which will prove to be important in changing the economic condition of the country. In a historic announcement, the Finance Minister said that income up to Rs 12 lakh will be tax-free if the person does not have special interest income. You can see the main highlights updates of Budget 2025 here.
Union Budget 2025 News
Budget 2025-26 is the full-time general budget of Prime Minister Narendra Modi’s government 3.0 and the eighth budget of Nirmala Sitharaman’s tenure. Presenting the budget, the Finance Minister said that according to the new tax system, there is no need to pay any kind of tax on an annual income of 12 lakhs. Earlier, an annual income of 7 lakhs was tax free. Along with this, a discount of 75 thousand has also been announced on standard detection.
Know The Special Points Of The Budget
- In the new tax system, duty tax applicable on more than 36 life saving medicines has been abolished. Due to which medicines for life-threatening diseases like cancer will be cheaper. Also, it has been announced to set up a “Cancer Day Care Center” in the hospital.
- To promote digital education, broadband connectivity will be provided in government secondary schools and primary health centers.
- Funding of Rs 10,000 crore will be arranged for new startups. In which loans will be provided primarily to women and SC / ST category entrepreneurs.
- Keeping in mind the ground conditions of Bihar and increasing unemployment, it has been announced to set up Fox Nut (Makhana) Board in Bihar. Due to which the people of Bihar will not have to go out for employment.
- The limit of TDS for senior citizens of the country has been increased from 50,000 to 1 lakh.
- The limit of Kisan Credit Card has been increased from 3 lakh to 5 lakh. Which will be of great benefit to the farmers.
- Special credit cards will be introduced for small industries. There is a plan to issue 10 lakh credit cards by the end of 2025.
- Finance Minister Nirmala Sitharaman said that the prices of LED and LCD will decrease. Lithium ion batteries will become cheaper. EV and mobile batteries will become cheaper.
Many Big Announcements For Bihar:
- Four new greenfield airports will be built in Bihar.
- The Patna airport will be expanded, making air travel more accessible.
- 120 new destinations will be added under the revised UDAN scheme, strengthening Bihar’s national and international connectivity.
- A dedicated Makhana Board will be formed to economically empower the farmers of Bihar, which contributes 80% of India’s total makhana production.
- 1 crore gig workers will be registered on the e-Shram portal.
What Did The Railways Get In The Budget?
The budget allocation for the Indian Railways for FY26 has been set at ₹2.55 lakh crore, unchanged from the previous financial year (FY25). This flat allocation has disappointed some stakeholders who were expecting an increase in support for ongoing and new projects.
Conclusion
In this budget, it will be important to see how essential services like taxes, education, health and subsidies are managed. If you have any question regarding this post, then you can tell us by commenting in the comment box given below. Your feedback and suggestions are welcome as always. Thank you.
