2025 Union Budget of India 01 Feb 2025 1925 Views BUDGET Highlights Finance Minister's Speech Key to Budget Document, 2025 Budget Highlights (Key Features) Memorandum Explaining the Provisions in the Financial Bill Finance Bill, 2025 Statements of Fiscal Policy under the FRBM Act, 2003 Output Outcome Framework for Schemes 2025-2026 Implementation of Budget Announcements 2024-2025 Amendments Proposed CBDT RELEASES FAQs Budget 2025-26 Union Budget 2025-26--Corporate Tax Wishlist BUDGET - Live Commentary Hon'ble Finance Minister Nirmala Sitharaman Presents Union Budget 12:18 PM New slabs under new regime- Rs 4 to 8 lakh – 5% :: Rs 8 to 12 lakh – 10% :: Rs 12 – 16 lakh – 15% :: Rs 16 – 20 lakh – 20% :: Rs 20 – 24 lakh – 25% :: Rs 24 lakh plus – 30% income tax slab 12:12 PM No income tax payable upto income of Rs 12 lakh 12:08 PM Finance Minister Nirmala Sitharaman proposed to remove TCS on remittances for education purposes 12:06 PM Income Tax Returns Filing Limit Increased From 2 Years To 4 Years 12:05 PM New income tax bill will retain nearly half of the existing provisions and introduce personal income tax reforms with a focus on the middle class 12:03 PM Limit for tax deduction on interest for senior citizens being doubled from Rs 50K to Rs 1 lakh. Threshold to collect TCS on remittances under RBI’s LRS is proposed to be increased from Rs 7 lakh to Rs 10 lakh 11:58 AM Finance Minister Nirmala Sitharmaan announced that the government proposes to levy no more than one cess or surcharge, social welfare surcharge will be exempted on 82 tariff lines 11:54 AM Addition of 36 life saving drugs to be added in list of drugs exempt from customs duty, full exemption and concessional duty for manufacturing life-saving cancer drug 11:54 AM Government proposes removal of 7 tariff rates over an above those in removed in earlier budget. Only 8 tariff rates to remain after the new move. 11:51 AM Fiscal deficit for FY25 is set at 4.8%, while the estimated fiscal deficit for FY26 stands at 4.4% 11:50 AM Government aims to manage the fiscal deficit while ensuring a steady decline in debt over the years 11:50 AM Jan Vishwas 2.0 bill to decriminalise over 100 provisions in existing laws 11:48 AM Banks will be required to maintain a Grameen credit score for self-help groups to facilitate better financial access and support 11:47 AM Government will create a model Bilateral Investment Treaty to foster a more investment-friendly environment and encourage sustained foreign investment 11:46 AM A New Income Tax Bill is set to be introduced next week, adopting a “trust first, scrutinize later” approach 11:45 AM Foreign Direct Investment (FDI) limit in the insurance sector has been raised from 74% to 100% 11:44 AM Government will offer a national guidance framework to help states promote Global Capability Centres (GCCs) and enhance their growth 11:43 AM Cargo screening and customs clearance processes will be made more user-friendly to improve efficiency 11:42 AM Bharat Trade Net to be set up as digital public infrastructure for trade facilitation and financing 11:41 AM Support to be given to MSMEs to tackle non-tariff barriers in exports 11:40 AM Deeptech Fund of Funds will be explored to support technological advancements, while 10,000 fellowships will be provided for tech research at IITs and IISc 11:39 AM PM Gati Shakti data will be made accessible to the private sector, and the development of the top 50 tourist destinations 11:38 AM Mudra loans to be provided to homestays 11:37 AM Financial assistance will be provided for Western Kosi Canal Project in Mithilanchal region of Bihar 11:35 AM Modified UDAN scheme will be launched to connect 120 new destinations and cater to 4 crore passengers over the next 10 years. 11:34 AM 100 gigawatt GW of nuclear energy by 2047 is essential for engergy transition 11:33 AM Shipbuilding financial assistance policy will be revamped with the establishment of a Maritime Development Fund 11:32 AM ₹1 lakh crore Urban Challenge Fund aimed at transforming cities into growth hubs 11:32 AM Extend Jal Jeevan mission with an enhanced outlay, focus on quality infrastructure and O&M 11:31 AM 3-year pipeline of projects by states to be given that can be implemented in Private-Public-Partnership (PPP) mode 11:30 AM Govt enhances support for gig workers with e-shram registration and insurance 11:28 AM A Centre of Excellence for AI in Education will be established with an outlay of ₹500 crore 11:27 AM 10,000 additional seats to be added in medical colleges, aim to add 75,000 seats in next 5 years 11:27 AM Five National Centres of Excellence for Skilling will be established to equip the youth with the necessary skills for global opportunities 11:26 AM 50.000 Atal Tinkering Laboratories (ATLs) will be set up in government schools in the next 5 years to foster scientific temper in young minds 11:25 AM Saksham Anganwadi and Poshan 2.0 to empower women and children with nutrition 11:23 AM New manufacturing mission under the Make in India initiative will support small, medium, and large industries 11:23 AM National institute of food tech to be established in Bihar to support entrepreneur 11:22 AM Scheme to focus on manufacture of sustainable toys with a Made in India brand 11:21 AM Finance Minister announced a dedicated scheme for India’s footwear and leather sector, expected to generate employment for 22 lakh individuals, achieve a revenue of ₹4 lakh crore, and boost exports to over ₹1.1 lakh crore 11:21 AM New scheme announced for SC/ST women offering 5-year term loans 11:20 AM New Fund of Funds (FoF) with fresh expanded scope & fresh contribution of ₹10,000 crore to be set up 11:18 AM Finance Minister Nirmala Sitharaman announced that Kisan Credit Cards (KCC) will continue to facilitate short-term loans for 7.7 crore farmers 11:17 AM Credit guarantee cover will be enhanced from ₹5 crore to ₹10 crore for micro-enterprises leading to additional ₹1.5 lakh crore credit in next 5 years 11:15 AM India Post to evolve into a leading public logistics provider 11:14 AM Nirmala Sitharaman Announces 6-Year Mission Aimed At Achieving Self-Reliance In Pulses 11:10 AM Finance Minister Nirmala Sitharaman said the Union Budget focused on GYAN (Garib - poor, yuva (youth), annadata (farmers) and nari shakti (women's empowerment) 11:08 AM ‘Our structural refoms have drawn global attention,’ says Finance Minister Nirmala Sitharaman 11:05 AM Nirmala Sitharaman objectives of Budget - Accelerate growth, Secure inclusive development,Invigorate private sector investment,Uplift household sentiment,Enhance spending power of India's rising middle class 11:03 AM Finance Minister Nirmala Sitharaman presents the Union Budget in the Lok Sabha 10:58 AM Budget is for common man, Prime Minister Modi said ahead of Nirmala Sitharaman’s budget speech 10:45 AM Finance Minister Nirmala Sitharaman to start speech at 11 AM 10:29 AM Cabinet approves Budget 2025 ahead of presentation by Finance Minister Nirmala Sitharaman 10:14 AM Prime Minister Narendra Modi Reaches Parliament 09:40 AM Nirmala Sitharaman Meets President Droupadi Murmu 09:30 AM Nirmala Sitharaman leaves for Rashtrapati Bhavan, to present her 8th consecutive Budget