On 1 February 2025, Prime Minister Narendra Modi appreciated the Union Budget 2025, in which it was reported. It is as “pressure multiplier” for “human fees diversity” and India’s financial growth and aspirations. He emphasized that the price limit is designed to suddenly promote monetary savings, investment, consumption and everyday monetary speed.
Key Highlights of the Union Budget 2025:
Income Tax Reforms:
Increased Tax Exemption Threshold: The fee range raises the earnings tax exemption threshold from ₹6 lakh to ₹12 lakh, presenting brilliant comfort to the center magnificence.
Revised Tax Slabs: New tax slabs had been brought to reduce the tax burden on diverse earnings businesses, aiming to enhance disposable income and stimulate consumption.
Support for Agriculture:
High-Yield Crop Program: A new initiative targeting 17 million farmers has been launch to promote immoderate-yield crops, aiming to growth agricultural productivity and farmers’ earnings.
Enhanced Credit Facilities: The finances proposes multiplied subsidized credit for farmers to useful resource agricultural activities and rural development.
Formalization of the Gig Economy:
Welfare Measures for Gig Workers: Recognizing the developing gig personnel, the finances includes measures to formalize this area, supplying gig employees with access to healthcare and distinctive welfare initiatives.
Infrastructure and Energy Development:
Increased Capital Expenditure: The government plans to offset revenue losses from tax cuts by using modestly growing capital spending, specializing in infrastructure projects to stimulate economic growth.
Nuclear Energy Mission: A large initiative to gather 100 GW of nuclear strength via the use of 2047 has been deliver, aiming to diversify India’s strength portfolio and promote sustainable development.
Ease of Doing Business:
Regulatory Reforms: The finances proposes establishing a high-stage committee to implement regulatory reforms, aiming to decorate the ease of doing employer and attraction to investments.
Investment Friendliness Index: An index might be create to evaluate and beautify the funding weather all through one-of-a-type sectors and areas.
Economic Context and Objectives:
The Union Budget 2025 comes in the backdrop of world financial uncertainties and a slowdown in India’s GDP boom. Which had decelerated to 5.4% inside the preceding fiscal place. By imposing widespread personal tax cuts and commercial corporation-first-rate measures. The government targets to stimulate home call for, raise consumption. And encourage non-public funding. The price variety additionally specializes in addressing growing residing fees and developing possibilities for several segments of the population. Along with the center beauty, farmers, youngsters and girls.
In his address, Prime Minister Modi recommended Finance Minister Nirmala Sitharaman and her organization. For crafting a budget that presentations the aspirations of 140 crore Indians. He highlighted that the price variety prioritizes human beings’s financial savings over simply filling the treasury, aiming to empower citizens. And propel the state in the direction of the motive of a ‘Viksit Bharat’ (Developed India).
Overall, the Union Budget 2025 is place as a strategic roadmap to navigate monetary demanding situations. Foster inclusive development and boost up India’s adventure towards sustain boom and prosperity.
