The budget has given priority to all sectors of employment in every possible way.

The decision to promote the private sector in nuclear energy is a historic one. The budget has given priority to all sectors of employment in every possible way. I would like to discuss those reforms. Due to granting infrastructure status, the construction of large ships in India will be encouraged. And we all know that shipbuilding is the sector that provides the most employment. Similarly, there is a lot of potential for tourism in the country. The development of hotels at 50 important tourist destinations has given a significant boost to tourism by bringing them under the infrastructure category for the first time."

PM Modi On Budget 2025

This budget is a force multiplier; it will increase savings, boost investments, enhance consumption, and drive growth. I congratulate FM Nirmala Ji and her team for presenting this people-centric budget. Typically, the focus of a budget is on how the government's treasury will grow. However, this budget is completely the opposite. This budget is focused on how to increase the pockets of the country's citizens.

The New Tax Slab

0-4 Lakh - Nil 4 - 8 Lakh - 5% 8- 12 Lakh - 10% 12- 16 Lakh - 15% 16 - 20 Lakh - 20% 20-24 Lakh - 25% Above 24 - 30%

What Did Nirmala Sitharaman Say On Announcing No Tax Upto 12 Lakh Income ?

Democracy, demography, and demand are the key support pillars in the journey towards a 'Viksit Bharat.' The middle class provides strength for India’s growth. This government, under the leadership of PM Modi, has always believed in the ability of the middle class to contribute to nation-building. In recognition of their contribution, we have periodically reduced their tax burden. The transition in the tax slabs from 2014 to 2023 reflects our trust in the middle class. I am now happy to announce that no income tax will be payable on incomes up to ₹12 lakh. Tax slabs and rates are being revised across the board to benefit taxpayers.

Rationalization of TDS and TCS to ease difficulties

"Reforms are not a destination; they are a means to achieve good governance for our people and economy. Providing good governance primarily involves being responsive. The objectives of my income tax plan are:

• Personal income tax reforms with a special focus on the middle class
• Rationalization of TDS and TCS to ease difficulties
• Reducing compliance burdens and promoting employment

No Income Tax For Income Upto Rs 12 Lakh

In her Union Budget 2025 speech, Finance Minister Nirmala Sitharaman announced that taxpayers with an income up to ₹12 lakh will be exempt from paying income tax, offering substantial relief.

Fiscal deficit projected at 4.4% of GDP

Budget 2025: Nirmala Sitharaman on Income Tax

Finance Minister Nirmala Sitharaman stated that under the new tax regime, resident individuals earning up to ₹7,00,000 are exempt from paying income tax due to the available rebate. She further proposed increasing this rebate, allowing individuals with an annual income of up to ₹12,00,000 to be exempt from taxation. Additionally, she confirmed that marginal relief would continue to apply to incomes slightly exceeding ₹12,00,000 under the new tax regime.

Goods and Medicines That Became Cheaper

• A total of 36 drugs for cancer and rare diseases will now be exempt from Basic Customs Duty.
• The government has proposed exempting 37 additional medicines from Basic Customs Duty.
• The Centre plans to completely exempt cobalt products, LED components, zinc, lithium-ion battery scrap, and 12 critical minerals from Basic Customs Duty.
• The exemption on Basic Customs Duty for raw materials used in ship manufacturing has been extended for another 10 years.
• The Basic Customs Duty on fish pasteurii will be reduced from 30% to 5%.
• A new scheme has been introduced to further promote handicraft exports.
• Wet blue leather will also be fully exempt from Basic Customs Duty.

Greenfield airports will be facilitated in Bihar

Greenfield airports will be facilitated in Bihar to meet the state's future needs. This will be in addition to:

• Expanding the capacity of Patna Airport
• Developing a brownfield airport in Bihta
• Supporting the Western Kosi Canal Project in Mithilanchal

100 gigawatts of nuclear energy by 2047

The development of at least 100 gigawatts of nuclear energy by 2047 is essential for our energy transition efforts. With active private sector participation, amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act will be undertaken to achieve this goal.

PM Swanidhi Scheme

PM Swanidhi Scheme has benefited more than 68 lakh street vendors by providing them access to loans. Building on this success, the scheme will be revamped with:

• • Enhanced loans from banks
  • UPI-linked credit cards with a ₹30,000 limit
  • Capacity-building support

Centre of Excellence in AI for Education:

Centre of Excellence in AI for Education: It will be set up with a total outlay of ₹500 crore.

National Institute of Food Technology, Entrepreneurship, and Management in Bihar.

Support for Food Processing: In line with our commitment to Purvodaya, we will establish a National Institute of Food Technology, Entrepreneurship, and Management in Bihar.

ST, and SC first-time entrepreneurs: 5 Lakh Women

A new scheme will be launched for 5 lakh women, ST, and SC first-time entrepreneurs. This scheme will provide term loans of up to ₹2 crore over the next five years.

Over 1 crore MSMEs contribute 45% of our exports

MSME: For startups: The loan limit will be increased from ₹10 crore to ₹20 crore, with the guarantee fee moderated to 1%. Additionally, 27 focus sectors crucial for Aatma Nirbhar Bharat will be supported. For micro enterprises, we will introduce a customized credit card with a ₹5 lakh limit, registered on the Udyam portal. In the first year, 10 lakh such cards will be issued.

Urea Plat To Be Set Up In Assam

To further augment urea supply, a plant with an annual capacity of 12.7 lakh metric tons will be set up in Namrup, Assam.

Kisan Credit Card: Loans For Farmers

Facilitates short-term loans for 7.74 crore farmers, fishermen, and dairy farmers. The loan limit under the modified interest subvention scheme will be enhanced from ₹3 lakh to ₹5 lakh for loans taken through the KCC.

Makhana Board in Bihar

This presents a special opportunity for the people of Bihar. A Makhana Board will be established in the state to improve production, processing, value addition, and marketing of Makhana. People engaged in these activities will be organized into FPOs (Farmer Producer Organizations).

6-year mission for Aatmanirbharta in pulses

Our government will now launch a 6-year mission for Aatmanirbharta in pulses, with a special focus on Toor, Urad, and Masoor.

Prime Minister Dhan Dhanya Krishi Yojna: Developing Agri-Districts Programme

Motivated by the success of the Aspirational District Programme, this initiative will work in partnership with states. Through the convergence of existing schemes and specialized measures, the programme will cover 100 districts with low productivity, moderate crop intensity, and below-average credit parameters. It aims to:

1. Enhance agricultural productivity
2. Adopt crop diversification and sustainable agricultural practices
3. Augment post-harvest storage at the panchayat and block levels
4. Improve irrigation facilities
5. Facilitate the availability of long-term and short-term credit

This Budget aims to initiate transformative reforms across 6 domains:

During the first 5 years, these will augment the growth potential and global competitiveness. The domains are:

• Taxation
• Power sector
• Urban development
• Mining
• Financial sector
• Regulatory reforms

This budget focuses on 10 broad areas:

Our economy is the fastest-growing economy in the world. This budget focuses on 10 broad areas:

• Gareeb, Youth, Annadata, and Nari
• Spearheading agricultural growth and productivity
• Building rural prosperity and resilience
• Taking everyone along on an inclusive growth path
• Boosting manufacturing and "Make in India"
• Supporting MSMEs
• Enabling employment-led development
• Investing in people, the economy, and innovation
• Securing energy supplies
• Promoting exports and nurturing innovation

• Agriculture
• MSMEs
• Investments
• Exports

This Budget refers to the Government's effort to:

• Accelerate growth
• Secure inclusive development
• Encourage private sector investments
• Uplift household sentiments
• Enhance the spending power of India's rising middle class

Rukus In The Parliament

Rukus in the parliament as FM Nirmala Sitharaman presents the Union Budget 2025.

President Droupadi Murmu Feeds Dahi Cheeni To FM

Ahead of the Union Budget 2024 presentation, President Droupadi Murmu followed the traditional ritual of offering ‘Dahi-Cheeni’ (curd and sugar) to Union Finance Minister Nirmala Sitharaman, wishing her success.

#WATCH | President Droupadi Murmu feeds Union Finance Minister Nirmala Sitharaman the customary 'dahi-cheeni' (curd and sugar) ahead of her Budget presentation.

Union Finance Minister Nirmala Sitharaman will present her 8th consecutive #UnionBudget, today in Parliament (Source… pic.twitter.com/jZz2dNh59O — ANI (@ANI) February 1, 2025

Budget 2025 Approved in Cabinet Meeting

Union Home Minister Amit Shah Arrives

Union Home Minister Amit Shah arrives at parliament as Budget 2025 will be tabled in Lok Sabha, today, by Union Finance Minister Nirmala Sitharaman at 11 am.

Robert Vadra On Union Budget 2025, "Very Little Expectations"

Businessman Robert Vadra says on the Union Budget, "We have very little expectations from the government. I would like Nirmala Sitharaman to be among the people, listen to people and the biggest issue has been inflation for a long time and people are in so much trouble, there is unemployment... Kumbh is going on but the fares of trains, flights have also increased. The Union Budget should be in the interest of the people. I think it is not about BJP or Congress or any other party, everyone should be united and the budget should be in the interest of the country and the people."  

FM Nirmala Arrives In The Parliament

Union Finance Minister Nirmala Sitharaman arrives at the Parliament. She will present the Union Budget shortly.

#WATCH | #UnionBudget2025 | Delhi: Union Finance Minister Nirmala Sitharaman arrives at the Parliament. She will present the Union Budget shortly. pic.twitter.com/sWh7HcQgnR

— ANI (@ANI) February 1, 2025

Union Finance Minister Nirmala Sitharaman arrives at the Parliament

Union Finance Minister Nirmala Sitharaman arrives at the Parliament, after meeting President Droupadi Murmu at Rashtrapati Bhavan. She will present Union Budget at the House, shortly.

Nirmala Sitharaman leaves from Rashtrapati Bhavan

Union Finance Minister Nirmala Sitharaman leaves from Rashtrapati Bhavan after meeting President Droupadi Murmu.

#WATCH | #UnionBudget2025 | Delhi: Union Finance Minister Nirmala Sitharaman leaves from Rashtrapati Bhavan after meeting President Droupadi Murmu. pic.twitter.com/eO3klcW3my

— ANI (@ANI) February 1, 2025

Nirmala Sitharam's Saree Is A Tribute to Madhubani Art

Union Finance Minister Nirmala Sitharaman is wearing a saree as a tribute to Madhubani Art and the skill of Padma awardee Dulari Devi. Dulari Devi is a 2021 Padma Shri awardee. When FM visited Madhubani for a credit outreach activity at Mithila Art Institute, she met Dulari Devi and had a cordial exchange of thoughts on Madhubani art in Bihar. Dulari Devi had presented the saree and asked FM to wear it for the budget day.

#UnionBudget2025 | Union Finance Minister Nirmala Sitharaman is wearing a saree as a tribute to Madhubani Art and the skill of Padma awardee Dulari Devi.

Dulari Devi is a 2021 Padma Shri awardee. When FM visited Madhubani for a credit outreach activity at Mithila Art Institute,… pic.twitter.com/Q9ur6abaNt — ANI (@ANI) February 1, 2025

Which Saree Is Nirmala Sitharaman Wearing Today?

FM Nirmala Sitharaman dons white kasavu saree with madhubani painting on Budget day. Finance Minister Nirmala Sitharaman's Budget Day sarees always grab attention. This year, she opted for a white kasavu saree with a golden border adorned with an intricate Madhubani painting. Complementing her look, she paired it with a red blouse and a shawl, reflecting her admiration for handloom in her fashion choices. 

#WATCH | Delhi | Union Finance Minister Nirmala Sitharaman and MoS Finance Pankaj Chaudhary meet President Droupadi Murmu at the Rashtrapati Bhavan

Union Finance Minister Nirmala Sitharaman will present #UnionBudget2025, today at Lok Sabha pic.twitter.com/D8PYCoGf4K — ANI (@ANI) February 1, 2025

FM Nirmala Sitharaman Meets President Droupadi Murmu

FM Nirmala Sitharaman meets President Droupadi Murmu ahead of presenting the Union Budget 2025. Union Finance Minister Nirmala Sitharaman and MoS Finance Pankaj Chaudhary arrive at the Rashtrapati Bhavan to meet President Droupadi Murmu ahead of tabling #UnionBudget2025

#WATCH | Delhi | Union Finance Minister Nirmala Sitharaman and MoS Finance Pankaj Chaudhary meet President Droupadi Murmu at the Rashtrapati Bhavan

Union Finance Minister Nirmala Sitharaman will present #UnionBudget2025, today at Lok Sabha pic.twitter.com/D8PYCoGf4K — ANI (@ANI) February 1, 2025

FM Nirmala Sitharaman Shows Budget Tablet

FM Sitharaman shows a tablet containing budget document. Leaves for Rashtrapati Bhavan. Finance Minister Nirmala Sitharaman all set to present Budget 2025 at 11 am today. 

Finance Minister Leaves For Rashtrapati Bhavan

Union Finance Minister Nirmala Sitharaman leaves from the Ministry of Finance. She will present and read out the #UnionBudget2025 at the Parliament through a tab, instead of the traditional 'bahi khata'.

#WATCH | Delhi: Union Finance Minister Nirmala Sitharaman leaves from the Ministry of Finance.

She will present and read out the #UnionBudget2025 at the Parliament through a tab, instead of the traditional 'bahi khata'. pic.twitter.com/89XblFTwmk — ANI (@ANI) February 1, 2025

Finance Minister Nirmala Sitharaman Arrives at her Ministry Of Finance

Finance Minister Nirmala Sitharaman reaches in her office. She will present #UnionBudget2025 at the Parliament today.

#WATCH | Delhi: Union Finance Minister Nirmala Sitharaman arrives at the Ministry of Finance. She will present #UnionBudget2025 at the Parliament today. pic.twitter.com/T59lxfo5YT

— ANI (@ANI) February 1, 2025

CEA Arrives At The Ministry Of Finance

Chief Economic Advisor Dr V. Anantha Nageswaran arrives at the Ministry of Finance. Union Finance Minister Nirmala Sitharaman will present #UnionBudget2025 in the Parliament today.

#WATCH | Delhi: Chief Economic Advisor Dr V. Anantha Nageswaran arrives at the Ministry of Finance. Union Finance Minister Nirmala Sitharaman will present #UnionBudget2025 in the Parliament today. pic.twitter.com/fTYBuY0h1s

— ANI (@ANI) February 1, 2025

Finance Minister to leave her residence shortly

Visuals from Union Finance Minister Nirmala Sitharaman's residence. She will soon leave for North Block to present the budget, followed by visits to Rashtrapati Bhavan and Parliament  

Who Delivered the Longest Budget Speech?

Finance Minister Nirmala Sitharaman holds the record for delivering the longest budget speech in India's history. On February 1, 2020, her speech lasted 2 hours and 40 minutes, though she had to cut it short with two pages still remaining. In contrast, the shortest budget speech was delivered by Hirubhai Mulljibhai Patel in 1977, consisting of just 800 words. It was an interim budget speech.

Commercial LPG Cylinder Prices Updated

Budget 2025 LIVE: Ahead of the Union Budget 2025, oil marketing companies have adjusted the prices of commercial LPG cylinders. The cost of a 19 kg commercial LPG cylinder has been reduced by ₹7, effective from today. In Delhi, the new retail price for a 19 kg commercial LPG cylinder is now ₹1,797.

Welcome Union Budget 2025' at Puri beach

Renowned sand artist Sudarsan Pattnaik has created a sand art 'Welcome Union Budget 2025' at Puri beach, Odisha.

VIDEO | Renowned sand artist Sudarsan Pattnaik (@sudarsansand) has created a sand art 'Welcome Union Budget 2025' at Puri beach, Odisha. #Budget2025WithPTI #UnionBudget2025

(Full video available on PTI Videos - https://t.co/n147TvrpG7) pic.twitter.com/YbrlhonRKs — Press Trust of India (@PTI_News) January 31, 2025

Union Budget 2025: Old vs. New Tax Regime – What to Expect?

The Union Budget 2025 has raised speculation about possible revisions in the income tax regime. Reports suggest that the government might increase tax slabs and enhance standard deductions to ease the burden on middle-class taxpayers facing inflationary pressures.

New vs. Old Tax Regime

New Tax Regime (Introduced in Budget 2024)

• Income up to ₹3 lakh – No tax
• ₹3 lakh to ₹7 lakh – 5%
• ₹7 lakh to ₹15 lakh – 10%
• Above ₹15 lakh – 30%

Old Tax Regime

• Up to ₹3 lakh – No tax
• ₹3 lakh to ₹6 lakh – 5%
• ₹6 lakh to ₹9 lakh – 20%
• ₹9 lakh to ₹12 lakh – 30%