Finance Minister Nirmala Sitharaman presents the Union Budget for the fiscal year 2025-26 today, marking a historic eighth consecutive budget under her leadership. This marks the second budget of Prime Minister Narendra Modi’s third term, raising considerable anticipation.
The Budget Session of Parliament began on January 31 with President Droupadi Murmu’s address to both Houses. As per the Parliamentary Bulletin, the session will be conducted in two phases. The first phase, which started on January 31, includes the budget presentation on February 1 and will run until February 13. The second phase is scheduled to begin on March 10 and will continue until April 4.
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."...
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...
"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 The tax deduction limit on interest for senior citizens has been doubled from ₹50,000 to ₹1 lakh. The annual limit for TDS on rent has been increased from ₹2.40 lakh to ₹6 lakh. I also propose to remove TCS on remittances for education purposes...
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