New Delhi:
The second general budget of the third term of Modi government (Union Budget 2025) has arrived. Finance Minister Nirmala Sitharaman introduced the General Budget 2025 in the Lok Sabha on Saturday (1 February). In this budget, the Modi government focused on ‘Gyan’. Gyan means- poor, youth, grain and female power. In the budget, the Finance Minister made all the announcements for middle class, farmers, poor, youth, taxpayers and women.
Prime Minister Modi (PM Narendra Modi) also said that this budget is going to fulfill the mission of ordinary citizens, developed India. This budget investment will increase the consumption. In the true sense, this budget is not only the middle class of the middle class, but the common man of the country.
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1. Now income tax free of up to 12 lakhs
Income tax payers have got a big relief in the budget of Finance Minister Nirmala Sitharaman. Now the employed people will not have to pay any tax on income of up to Rs 12.75 lakh annually on choosing a new tax regime. The government will directly waive under 87A under 87A on the income of Rs 5% on income of Rs 4-8 lakh and Rs 8-12 lakhs in New Tax Reseam. Apart from this, standard deduction of 75 thousand rupees will also be available. In this way, the total income of 12.75 lakh people will be tax free. New Income Tax Bill will be brought next week.
| Number | Old slab | Old rate | New slab | New rate |
| 1 | Up to 3 lakh rupees | 0% | 0 to 4 lakh rupees | 0% |
| 2 | 3 to 7 lakhs | 5% | 4 to 8 lakhs | 5% |
| 3 | 7 to 10 lakhs | 10% | 8 to 12 lakhs | 10% |
| 4 | 10 to 12 lakhs | 15% | 12 to 16 lakhs | 15% |
| 5 | 12 to 15 lakhs | 20% | 16 to 20 lakhs | 20% |
| 6 | More than 1.5 million | 30% | 20 to 24 lakhs | 25% |
| 7 | , | , | More than 24 million | 30% |
2. Increased deadline for income tax return
Nirmala Sitharaman has extended the deadline for those filling ITR-TDs. Now income tax returns will be filled for 4 years, ITR had to be filled in the first one year. Along with this, the Modi government has increased the TDS limit to Rs 10 lakh, while the limit of rental TDS has been increased from Rs 2 lakh 40 thousand to Rs 6 lakh. Nirmala Sitharaman said that the Limit of Tax Collection at Source (TCS) and Liberalized Remedies Scheme (LRS) has been increased from 7 lakhs to 10 lakh rupees. TCS is the tax on which the shopkeeper takes from the buyer at the time of sale.
3. Tax exemption for the elderly
In this budget, the limit of exemption for the elderly has been doubled. Now the senior citizens will not have to pay any tax up to one lakh rupees, earlier this limit was 50 thousand rupees.
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4. 2 schemes for women’s economic empowerment
A big announcement has been made for women in the general budget of FY 2025-26. Two new schemes have been announced for the economic empowerment of women of Scheduled Castes (SC) and Scheduled Tribes (ST). Under the first scheme, in the next 5 years, 5 lakh SC/ST Women Entroprainure will get a term loan for a period of 5 years. Under this scheme, in the next 5 years these entrepreneurs will be given a term loan (loan) of up to Rs 2 crore. This scheme will be made keeping in mind the things learned from the successful experiences of the ‘Stand-up India’ scheme. In the second scheme, 5 lakh SC/ST women who have entered the world of business will be assisted in the next five years. Apart from this, online training will be given to increase management skills.
5. The life of common man trapped in KYC will be easy
The government has decided to make some changes to make the KYC (Know Your Customers) process easier. The Central KYC registered will be revived in 2025. The government will create a system for updation.
6. Amazon-Flipkart, Jomato’s delivery boy bat
Modi government has made a big announcement for Gig Workers in the General Budget 2025. The government will give an identity card to one crore gig workers. They will be registered on the e -ram portal. While presenting Budget 2025-26, Sitharaman said that this scheme will implement the scheme for the socio-economic upliftment of urban workers. This decision of the Modi government will benefit a major benefit to the unorganized sector workers, Amazon, Flipkart, Jomato, Swigi’s delivery boy and Ola-Uber’s drivers in e-commerce companies like Amazon, Flipkart, Jomato, Swigi.
7. Kisan Credit Card Limited 5 lakhs
In the budget, the Modi government has taken special care of Annadata i.e. farmers. The loan limit on Kisan Credit Card will be increased from 3 lakh to 5 lakhs. ‘Pradhan Mantri Dhanadhanya Yojana’ has been announced for farmers. The government will run this scheme with states. 1.7 crore farmers will get help. The next 6 years will be a focus to increase the yield of pulses like lentils, tur. Makhana board will be formed in Bihar, benefiting small farmers and traders. Special credit cards will be issued to small industries, 10 lakh cards will be issued first year. Loan guarantee cover for MSME will be increased from 5 crores to 10 crore, 1.5 lakh crore.
8. Youth in budget on youth
Special announcements have been made for the youth in the budget. The loan for startup will be increased from 10 crores to 20 crores. Finance Minister Nirmala Sitharaman said that funds will be arranged for startups with the government’s contribution of Rs 10,000 crore. There will also be a decrease in guarantee fees. In medical education, the announcement of increasing 75 thousand seats in the next 5 years and additional infrastructure will be prepared in five IITs. Apart from this, IIT Patna will be expanded. Credit cards for small industries, 10 lakh cards will be issued first year.
9. Cancer medicines will be cheaper
Finance Minister Nirmala Sitharaman said that the duty tax will be completely abolished on 36 life saving drugs (life saving drugs). Cancer Day Care Centers will be set up in all government hospitals. Treatment of cancer will be cheaper. Custom duty on 6 life saving medicines will be increased to 5 percent.
10. Gift for vendors and small businessmen
The Finance Minister said in the budget speech that the MSME Credit Guarantee cover for micro enterprises will be increased from Rs 5 crore to Rs 10 crore, which will provide an additional Rs 1.5 lakh crore credit in the next five years. He said, ‘MSME is responsible for our 45% exports. We need to increase credit access to MSME. Credit card limit for micro enterprises will be Rs 5 lakh.
11. Comel man relief from inflation
The Modi government has given relief to the common man from inflation. Now items like mobile, TV, electric car, leather goods, clothes will be cheap. Because the government has removed cess from 82 goods. This will make mobile and TV cheap. In addition to affordable housing in 2025, 40 thousand units will be completed. Electricity distribution and transmission companies will be strengthened. In this way, the Modi government has taken care of everyone through the budget, which is also being praised by many opposition parties.
Garda flew away! IIT, airport, makhana … Bihar is very happy with the budget
