Looking for Union Budget 2025 key highlights? Nirmala Sithraman presented the Union Budget in Parliament on February 1st, 2025. Tap to see highlights from the budget.
Union Finance Minister (FM) Nirmala Sitharaman mentioned that India’s economy is one of the most rapidly growing economies in the world and in the next five years the government will prioritise ‘sabka vikas’.
The FM said in her speech that the budget aims to bring major reforms in six areas: taxation, urban development, mining, financial sector, power and regulatory reforms.
The key objectives of Union Budget 2025 are: promoting economic growth, inclusive development, boosting investment in the private sector, strengthening household usage and stimulating government spending on the middle class.
The Union Budget 2025 has announced that taxpayers who are earning up to Rs 12 lakh in a year will have not to pay zero tax on it, due to a reduction in tax slab.
There will be reforms to ensure taxpayer convenience and a new Income Tax bill will be released next week. Major initiatives include: faceless assessments, taxpayer charters and rapid return processing than before.
According to the Times of India, Bihar takes centre stage in Budget 2025. A special Makhana (fox nut) board will be set up to boost Makhana production in Bihar.
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