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- Budget | Union Budget 2025 Nirmala Sitharaman Speech; Narendra Modi Govt Income Tax Slabs
New Delhi4 days ago
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Sitharaman presented a budget of ₹ 50.65 lakh crore on Saturday. In the budget, it was announced to make income tax free of 12.75 lakhs for the employee and up to Rs 12 lakh for the rest of the taxpayers. By doing this, the government also gave the middle class to the middle class and Delhi also has voting on February 5 after 4 days.
Delhi has a population of 3 crore 38 lakhs. Of these, 40 lakh people pay tax. There are 1.55 crore total voters in Delhi. In October last year, Kejriwal said that Delhiites pay 1.78 lakh crore income tax. The new slab will affect 67% middle class population here.
Sitharaman opened the way for electric cars, mobiles and LED being cheap. Announced to reduce the price of cancer and some essential medicines. In a 77 -minute speech, he made several announcements including forming Makhana Board for the state 9 times in a 77 -minute speech. Elections are to be held here at the end of the year. She also arrived in Bihar wearing a famous Madhubani saree for budget speech.
First of all, see the account of the amount allocated to the top 15 ministries …
Understand the entire budget at 11 points …
1. Income tax free of up to ₹ 12.75 lakh of employee
Employed people will not have to pay any tax on income of up to ₹ 12.75 lakh annually if you choose a new tax regime. The tax exemption limit will be only ₹ 12 lakh if there is income from any other through any other through.
Understand the change in tax slab from graphic …
How to benefit in tax, know in detail …
Income tax calculator, find out how much tax will be levied in just 2 minutes
Central employees may be out of new tax regime
The government has announced the formation of 8th Pay Commission. It is being said that the salary of most central employees from the Eighth Pay Commission will cross 12 lakhs, so what the Finance Minister has done income tax-free of up to Rs 12 lakh today will not benefit them.
However, experts are currently considering it as an estimate. Central employees have 5 levels and many grade-pays. For example, the grade pay of Level-1 ranges from Rs 18 thousand to Rs 28 thousand and the grade pay of Level-5 ranges from Rs 29,200 to Rs 92,200. According to an estimate, the average salary of all central employees is around 7 lakh rupees annually.
After the 7th Pay Commission was implemented, the salary of employees increased by 14%. If the 8th Pay Commission also increases by 30%, then millions of employees will get the benefit. Experts believe that it is too early to guess the exact numbers.
2. For the elderly: double discount in tax
- TDS was not imposed to the elderly at 50 thousand interest on FD. Now it has been increased to one lakh. That is, if they are getting one lakh interest from any deposit, then they will not have to pay TDS. More than 10 crore elders will benefit.
- The amount withdrawn after 29 August 2024 from the National Saving Scheme account will be excluded from the scope of tax.
3. For women: Term loan up to 2 crores
- 5 lakh SC-ST women, who have become entrepreneurs for the first time, will be given a term loan of up to 2 crore in the next 5 years.
- Under the Anganwadi scheme, more than 8 crore children and 1 crore pregnant women will be given nutritious food across the country.
- Mission Shakti Yojana for women has been given a budget of 3 thousand 150 crores. Beti Bachao-Beti-daughter, women’s court, women’s helpline, women police volunteer schemes will get Rs 629 crore from it.
- Schemes like Swadhar Griha, Matri Vandan, Working Women’s Hostel and National Crech have been given a budget of 2 thousand 521 crores. There is a budget of 30 crores for the ongoing schemes under Nirbhaya Fund.
- In North-East, 2 thousand 615 crore schemes for women and child development, assistance of 22 thousand 195 crore to the state governments and Rs 897 crore will be given for running women and child development programs in union territories.
4. For youth and employment: 75 thousand medical seats will increase
- A fund of 10 thousand crores will be made for startup.
- 500 crores to 3 AI (Artificial Intelligence) Excellence Center will be formed.
- In medical education, 75 thousand seats will increase in the next 5 years. 10 thousand seats will be increased in a year.
- 6500 seats will be increased in 23 IITs in the country. Patna IIT hostels will be expanded.
- 10 thousand new fellowships will be given under PM Research Fellowship.
- The government did not make any separate announcement for employment. However, Sitharaman, while announcing several schemes, said that they will create employment.
5. Life saving medicines, electronic goods and mobiles will be cheap
The government has announced to make cancer medicines cheaper in the budget. Cancer day care centers will be set up in all districts of the country in the next 3 years. In the next financial year itself, 200 such centers will be set up.
6. For farmers: PM Dhan-Dhanya Yojana, 1.7 crore people benefit
- PM Dhan-Dhanya Agricultural Scheme will be implemented in 100 districts with low productivity. Production will be increased under this. Storage will be arranged at the panchayat level. 1.7 crore farmers will benefit.
- The limit of Kisan Credit Card (KCC) increased from 3 lakh to 5 lakh rupees.
- A loan of up to Rs 5 lakh will be given for dairy and fisheries.
- There will be a 6 -year mission to achieve self -sufficiency in pulses. Under this, Nafed and other central agencies will purchase pulses from farmers for the next 4 years.
- 5 years action plan for cotton production. There will be focus on production, marketing. A new urea plant will be set up in the name of Assam.
7. For Education: Internet in all secondary schools
- Gyan Bharat Mission will begin in the country. There will be a digitization of 1 crore manuscript.
- Broadband connectivity to all government secondary schools and primary health centers.
- 5 national level centers will be set up to increase skills.
8. For Health: 200 Day Care Cancer Center will be built
- The government has completely taxed 36 life saving medicines. In the next 3 years, 200 days will be set up in all district hospitals to provide relief to people and families struggling with horrific diseases like cancer.
9. Online delivery, ICard to Cab running, PMJAY advantage
Icards will be given to 1 crore GIG workers, ie food delivery, cab run and online delivery workers. They will be registered on the e -ram portal. They will also get the benefit of health facilities under the Pradhan Mantri Jan Arogya Yojana. According to the report, by 2030, the number of these GIG workers will be more than 23 crore.
10. The country will be made toy hub, 64% imports from China
- A National Action Plan will be made to make the country a big center for toys. We will develop the clusters. Eco system will be created for skills and manufacturing. This will make highquality, unique, innovative and long running toys.
- India’s toy exports declined from US $ 177 million in 2021-22 to US $ 152 million in 2023-24 due to overall decline in the global demand for these products.
- In the last decade, India is becoming dependent on China for toys. The country currently imports 76% toy on an average.
11. Dajgua budget for tribes four times, impact in 30 states
- The budget for the welfare of tribes has been reduced to 14 thousand 925 crore. Last year it was close to 10 thousand 237 crores. That is, it has been increased by 45% this year.
- More than 7 thousand crore budget has been given for Eklavya boarding schools. 380 crore rupees will be given for the Tribal Development Mission. The Prime Minister Adarsh Gram Yojana has a budget of more than 335 crores.
- The budget of Earth Abha Tribal Gram Utkarsh Abhiyan (Dajgua) has been increased from 500 crores to 2 thousand crores. This will increase health facilities, education, Anganwadi facilities in 63 thousand 843 villages. 5 crore tribal people in 549 districts of 30 states will benefit from this.
5 announcements for Bihar, their Impact on 72 seats
The budget has announced the Makhana Board in Bihar, the establishment of the National Institute of Food Technology, the expansion of IIT Patna, 3 Airport, Western Kosi Canal Project.
The youth population in Bihar is about 50%. The only IIT in the state is in Patna. There are 2883 seats here, it will increase to around 5000. Makhana is cultivated in 10 districts of Bihar. More than 25 thousand farmers are associated with this. Due to no fixed policy regarding Makhane, profits are distributed. Instead of farmers, money goes into the pockets of traders. Now after the formation of the board, Bihar will get 90 rupees in a profit of 100 rupees.
It is being said that the formation of Makhana Board and the announcement of the Western Kosi Canal Project may affect 72 seats in Mithilanchal and Seemanchal regions. The state has 243 assembly seats. Read full news
