Finance Minister Nirmala Sitharaman presented the budget in Parliament on Saturday. He has made many big announcements for the middle class. However, he made a big announcement about the income tax slab. Now no tax has to be paid on income up to Rs.12 lakh. Many gifts have been given to the farmers in the budget. The KCC (Kisan Credit Card) limit has now been increased to Rs 5 lakh. Many big announcements have been made for Bihar. Formation of Makhana Board is announced. Similarly, 36 medicines for serious diseases such as cancer have been exempted from customs duty. Go through this article and find out what anyone has got in this budget.
Union Budget 2025
- PM Dhan Dhanya Krishi Yojana: The Finance Minister has announced that the government will launch the PM Dhan Dhanya Krishi Yojana in the states. 100 districts will be included in this plan. It has the potential to help 1.7 crore farmers.
- Urea Plant in Assam: A plant with a capacity of 12.7 lakh metric tonnes per annum will be set up in the name of Assam. 3 closed urea plants in the eastern region have been reopened. This is a step towards self-sufficiency in urea production.
- For Entrepreneurship: New funds will be created to fund startups. The current government contribution of Rs. 10,000 Crore will be made.
- For Sandal and Leather Sector: Product planning will be initiated for this sector, thereby promoting productivity, quality and competitiveness in the footwear and leather sector.
- National Institute of Food Technology, Entrepreneurship and Management to open in Bihar. This will improve the quality of the produce of the farmers and increase their income. This will create employment opportunities for the youth.
- E-Shram Card: After registering on the E-Shram portal, the workers working for the online platform will be given credentials. Health facilities will be provided under the Pradhan Mantri Jan Aarogya Yojana.
- Additional infrastructure will be constructed to provide education facilities to 6,055 additional students in 5 IITs started after 2014.
- Investment in Education and Health: To promote scientific thinking, 50,000 Atal tinkering labs will be constructed in government schools over the next 5 years.
- Taking loan will be easier for MSMEs. 5 crores to 10 crores for fine and small enterprises; An additional loan of Rs 1.5 lakh crore will be available over the next 5 years.
- Makhana Board in Bihar: Program for improvement in production, processing, quality and marketing of makhana. People involved in activities related to the production of makhana will be organized as Farmer Producer Organizations.
- Special focus on Andaman-Nicobar and Lake Islands to promote fisheries sector. In addition, focusing on areas of the marine environment that are still untouched or under-recognized.
- Cotton Production Mission: To revive the country’s traditional textile industry sector to ensure better cotton supply and farmers’ income. This 5-year mission will significantly improve the quality and productivity of cotton cultivation.
- 36 life-saving medicines will be cheaper: 36 life-saving medicines will be 100% customs duty free.
- The FDI limit in the insurance sector will be increased from 74 percent to 100 percent. The government will further deepen and expand the services of India Post Payments Bank in rural areas.
- No tax on income up to Rs 12 lakh: The government has made a big announcement on income tax. Now there will be no tax on income up to Rs 12 lakh. 15% tax on income between Rs.12 lakh to Rs.16 lakh.
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