Budget 2025 Highlights: FM Sitharaman Offers Big Relief To Salaried, Middle Class Tax Payers

Budget Live Updates | The government has added almost 1.1 lakh undergraduate and postgraduate medical education seats in 10 years, an increase of 130 percent.

In the next year, 10,000 additional seats will be added in medical colleges and hospitals towards the goal of adding 75,000 seats in the next five years.

Budget Live Updates | NRIs who provide services to a resident company that is establishing or operating an electronics manufacturing facility, to benefit from a presumptive taxation regime

 Period of incorporation to be extended by 5 years to allow tax benefits to startups incorporated before 1.4.2030

Budget Live Updates | New Income Tax 2025-26: Tax Slab; Zero Income Tax Till Rs 12 Lakh Income Under New Tax Regime

0-4 lakh rupees: Nil
4-8 lakh rupees: 5%
8-12 lakh rupees: 10%
12-16 lakh rupees: 15%
16-20 lakh rupees: 20%
20-24 lakh rupees: 25%
Above 24 lakh rupees: 30%

Budget Live Updates | Revamped Central KYC Registry in 2025

Forum for regulatory coordination and development of pension products to be set up. Revamped Central KYC Registry to be rolled out in 2025, to simplify KYC process

Budget Live Updates | New Income Tax 2025-26: Tax Reforms to Improve Ease of Doing Business

Scheme to be introduced for determining arm's length price of international transaction for a block period of three years, to streamline transfer pricing and to provide an alternative to yearly examination

Tax exemption to be provided on withdrawals made from National Savings Scheme by individuals on or after 29th August, 2024

Budget Live Updates | New Income Tax 2025-26: Rationalizing TDS/TCS

Limit for tax deduction on interest for senior citizens to be doubled from Rs 50,000 to Rs 1 lakh

Annual limit for #TDS on rent to be increased from Rs 2.40 lakh to Rs 6 lakh

Threshold to collect tax at source on remittances under RBI’s Liberalized Remittance Scheme to be raised from Rs 7 lakh to Rs 10 lakh

Budget Live Updates | New Income Tax 2025-26: New Income-tax Bill to be Introduced 

New bill will be clear and direct in text with close to half of the present law

Will be simple to understand, leading to tax certainty and reduced litigation

Live Updates | Budget 2025: 2.4 Lakh daak sevaks will be repositioned

India Post with 1.5 Lakh rural post offices complemented by the India Post Payments Bank and a vast network of 2.4 Lakh daak sevaks will be repositioned to act as a catalyst for the rural economy: F M 

Live Updates | Budget 2025: FDI limit for Insurance Sector to be raised from 74% to 100 percent

The FDI limit for the Insurance Sector will be raised from 74% to 100 percent. This enhanced limit will be available for those companies which invest the entire premium in India. The current guardrails and conditionalities associated with foreign investment will be reviewed and simplified: FM

The fiscal deficit is estimated to be 4.4% of the GDP. The revised estimate of the total receipts other than borrowings is Rs 31.47 lakh crore of which the net tax receipts are Rs 25.57 lakh crore

Live Updates | Budget 2025: PM Research Fellowship 

10,000 fellowships to be provided under the PM Research Fellowship scheme in next five years, for technological research in IITs and IISc: FM

Live Updates | Budget 2025: Modified UDAN scheme to be launched 

Modified UDAN scheme to be launched to enhance regional connectivity to 120 new destinations and carry 4 crore passengers in next 10 years

Maritime Development Fund with a corpus of Rs. 25,000 crore to be set

Jal Jeevan Mission to be extended till 2028

Live Updates | Budget 2025: Investment in Infrastructure

Thrust on investment in infrastructure continues with focus on PPP projects and asset monetization among others. Each infrastructure-related ministry to come up with a 3-year pipeline of PPP infra projects

Union Budget 2025 aims to initiate transformative reforms across six domains. During the next five years, these will augment our growth potential and global competitiveness

Taxation

Power Sector

Urban Development

Mining

Financial Sector 

Regulatory Reforms

Live Updates | Budget 2025: Bharat Trade Net

A digital public infrastructure - 'Bharat Trade Net' (BTN) for international trade will be setup as a unified platform for trade documentation and financing solutions. The BTN will be aligned with international practices

Live Updates | Budget 2025: Framework for sustainable harnessing of fisheries

To unlock the untapped potential of the marine sector, the government will bring in an enabling framework for sustainable harnessing of fisheries from the Indian exclusive economic zone and high seas with a special focus on the Andaman and Nicobar and Lakshwadi Islands.

Live Updates | Budget 2025: Customised credit cards with a Rs 5 Lakh limit for micro-enterprises registered on Udyam portal

To improve access to credit, the credit guarantee cover will be enhanced. For micro and small enterprises from Rs 5 to Rs 10 crores leading to additional credit of Rs 1.5 Lakh Crores in the next 5 years. For startups, from Rs 10 Crores to Rs 20 Crores with the guarantee fee being moderated to 1% for loans in 27 focus sectors which are important for Aatmanirbhar Bharat. For well-run exporter MSMEs, for term loans up to Rs 20 Crores. Also for the micro-enterprises, we will introduce customised credit cards with a Rs 5 Lkah limit for micro-enterprises registered on Udyam portal: Nirmala Sitharaman 

National Institute of Food Technology, Entrepreneurship and Management to be set up in Bihar. To provide a strong fillip to food processing activities in the entire Eastern region

Live Updates | Budget 2025: Prime Minister Dhan Dhanya Krishi Yojana

Through the convergence of existing schemes, the program will cover 100 districts with low productivity, moderate crop intensity & below-average credit parameters to:

1. Enhance agricultural productivity

2. Adopt crop diversification & sustainable agri-practices

3. Augment post-harvest storage

4. Improve irrigation facilities

5 . Facilitate long term & short-term credit

The program will likely help 1.7 crore farmers, said FM Sitharaman

Live Updates | Budget 2025: Scheme to Make India a Global Toys Hub

Focus Product Scheme for Footwear & Leather Sectors is expected to facilitate employment for 22 lakh persons, turnover of Rs 4 lakh crore and exports of over Rs 1.1 lakh crore 

Scheme to Make India a Global Toys Hub; To create high-quality toys representing the Made In India brand

Live Updates | Budget 2025: New Fund of Funds for Startups to be set up

Fresh contribution of another Rs 10,000 crore, in addition to existing government contribution of Rs 10,000 crore

New Scheme for 5 lakh Women, Scheduled Castes and Scheduled Tribes first-time entrepreneurs

Live Updates | Budget 2025: Customized Credit Cards for MSMEs to be introduced

Credit guarantee cover for MSMEs to be significantly enhanced. Customized Credit Cards for Micro Enterprises to be introduced

Live Updates | Budget 2025: Turnover limits for classification of all MSMEs to be enhanced

The investment and turnover limits for classification of all MSMEs will be enhanced to 2.5 and 2 times respectively. This will give them the confidence to grow and generate employment for our youth: FM

Live Updates | Budget 2025: Govt to take PM Dhan Dhaanya Krishi Yojana in partnership with states

PM Dhan Dhaanya Krishi Yojana - developing agri districts program...Our government will undertake a PM Dhan Dhaanya Krishi Yojana in partnership with states. Through the convergence of existing schemes and specialised measures, the program will cover 100 districts with low productivity, moderate crop intensity and below-average credit parameters. It aims to enhance cultural productivity: FM

Budget Live Updates | KCC Loan limit increased

Kisan credit card loan limit increased from Rs 3 lakh to Rs 5 lakh, says FM Sitharaman

Live Updates | Budget 2025: Proposed development measures 10 broad areas

Union Finance Minister Nirmala Sitharaman begins her budget speech amid protest by Samajwadi Party MPs including party chief Akhilesh Yadav

In this Budget, the proposed development measures span 10 broad areas, focussing on the poor, youth, farmers and women: FM

Live Updates | Budget 2025: India's structural reforms drawn global attention

Our economy is the fastest growing among all major economies. Our development track record for the past 10 years and structural reforms have drawn global attention. Confidence in India's capability and potential has only grown in this period. We see the next 5 years as a unique opportunity to realise sabka vikas, stimulating balanced growth of all regions: FM

Live Updates | Budget 2025: FM Nirmala Sitharaman Tables Budget

Union Finance Minister  Nirmala Sitharaman presents the Union Budget 2025-26 in Parliament

Live Updates | Budget 2025: Prez feeds FM customary dahi-cheeni

President Droupadi Murmu feeds Union Finance Minister Nirmala Sitharaman the customary 'dahi-cheeni' (curd and sugar) ahead of her Budget presentation. Union Finance Minister Nirmala Sitharaman will present her 8th consecutive #UnionBudget, today in lok sabha

Live Updates | Budget 2025: FM arrives at Parliament

Union Finance Minister Nirmala Sitharaman arrives at the Parliament, after meeting President Droupadi Murmu at Rashtrapati Bhavan. She will present Union Budget at the House, shortly

Live Updates | Budget 2025: FM, MoS Finance Meet Prez Murmu 

Union Finance Minister Nirmala Sitharaman and MoS Finance Pankaj Chaudhary meet President Droupadi Murmu at the Rashtrapati Bhavan. Finance Minister Nirmala Sitharaman will present Budget 2025 in Lok Sabha shortly

Live Updates | Budget 2025: FM's saree tribute to Madhubani Art 

Dulari Devi is a 2021 Padma Shri awardee. When FM visited Madhubani for a credit outreach activity at Mithila Art Institute, she met Dulari Devi and had a cordial exchange of thoughts on Madhubani art in Bihar. Dulari Devi had presented the saree and asked FM to wear it for the budget day.

Live Updates | Budget 2025: FM's saree tribute to Madhubani Art 

Union Finance Minister Nirmala Sitharaman is wearing a saree as a tribute to Madhubani Art and the skill of Padma awardee Dulari Devi. 

Live Updates | Budget 2025:  FM leaves for Rashtrapati Bhavan

Union Finance Minister Nirmala Sitharaman leaves from the Ministry of Finance for Rashtrapati Bhavan, to meet President Droupadi Murmu ahead of budget presentation in Lok Sabha

Live Updates | Budget 2025: Budget copies brought to parliament

Copies of Union Budget 2025 being brought to parliament. Union Finance minister Nirmala Sitharaman all set to table her 8th Union Budget, for the fiscal year 2025-26, in Lok Sabha in a while

Live Updates | Budget 2025: Sitharaman arrives at Ministry of Finance

Union Finance Minister Nirmala Sitharaman arrives at the Ministry of Finance. She will present Union Budget2025 at the Parliament in a while

Live Updates | Budget 2025: FM leaves from residence

Union Finance Minister Nirmala Sitharaman leaves from her residence. Union Budget 2025 to be presentd in Parliament at 11am today

Live Updates | Budget 2025: Jimeet Modi Urges For Reforms In Capital Markets 

Jimeet Modi, Founder and CEO of SAMCO Securities, highlighted the need for key reforms in the Union Budget to strengthen India's financial markets. "The Union Budget should make an attempt to restore these two things; the currency derivatives markets should be opened up as this is critical for the Indian economy to become a Developed Economy. To maintain the liquidity in the capital market, the government should rationalise the STT rates on futures, options and other instruments. It may probably result in loss of revenue for the government to some extent, but what it will be more than compensated by the new inflows that will come in by way of increased liquidity and by way of increased participation," he said. 

Live Updates | Budget 2025: Expert Calls For Tax Concessions To Boost EV Sector 

Abhishek Mundada, Partner at Dhruva Advisors, highlighted the need for tax incentives to accelerate electric vehicle (EV) adoption. He suggested that the government "consider giving requisite income-tax concessions to the makers and users of EVs." Under the previous Section 80EEB of the Income-tax Act, 1961, individuals buying EVs could avail a tax concession of up to ₹1.5 lakh on interest paid for loans taken between April 1, 2019, and March 31, 2023. However, this benefit was not extended in Budget 2024. Mundada stressed that "considering the need of an hour for encouraging EV sales at a much higher scale, it is imperative for extending such tax concession at least till 2030." 

Live Updates | Budget 2025: MD, CEO Of Tata Capital Stresses Need To Boost MSMEs Ecosystem 

Rajiv Sabharwal, MD & CEO of Tata Capital, stressed the need to build a strong digital ecosystem for MSMEs to ensure seamless credit access, drive growth, and strengthen the economy. He also emphasized the importance of lowering the SARFAESI threshold, stating, "Additionally, lowering the SARFAESI threshold from ₹20 lakh to ₹1 lakh will help NBFCs for faster resolution of stressed accounts and bring them at par with HFCs, Banks, and other financial institutions." 

Prashant Sharma, President, NAREDCO Maharashtra

Encouraging investments in Real Estate Investment Trusts (REITs) through tax benefits and regulatory support can provide liquidity to the sector. Similarly, Rental housing can play a pivotal role in addressing urban housing shortages and supporting the mobility of the workforce. The government should introduce incentives and policy support for developing affordable rental housing complexes, ensuring access to quality housing for tenants.

Sandeep Bhalla, Partner, Dhruva Advisors

The Indian economy, poised as the world's fastest-growing major economy, awaits the first Union Budget of the new coalition government with bated breath. Scheduled for February 1, 2025, this budget is expected to set the tone for a transformative trajectory for India’s economic policies, with a special focus on tax reforms, relief for the middle class, and growth-oriented measures.

Rumki Majumdar, Economist, Deloitte India

"A strong financial sector is the bedrock of economic confidence, and India's banking sector has demonstrated remarkable resilience with GNPA falling to 2.6% and returns on asset doubling to 1.4%. Despite FII outflows comparable to the COVID-19 period, India’s market capitalization-to-GDP ratio surged to 136%of GDP by December 2024 (from 124% of GDP last year), outpacing other emerging economies. This signals growing investor confidence and a more dynamic capital market. However, with corporate bonds accounting for just 18% of GDP—far below Korea’s 80% and China’s 36%—deepening the corporate debt market is critical. Expanding this segment would reduce reliance on bank loans, lower borrowing costs, and create a more diversified and resilient financial system for long-term, inclusive growth."

Naveen Chandra Jha, MD & CEO, SBI General Insurance

“Health insurance has emerged as a crucial safety net for Indian families, shielding them from unexpected medical expenses. According to the IBEF report, India is the 4th largest general insurance market in Asia and the 14th largest globally. Data from IRDAI’s annual reports reveals that health insurance has grown steadily at approximately 25% annually over the past three years, highlighting its importance in protecting households."

Sanjiv Malhotra, Senior Advisor, Shardul Amarchand Mangaldas & Co 

"The Economic Survey 2025 not only takes stock of the state of the Indian economy for FY 25 and FY 26 but also the opportunities and threats in a longer team. In this regard, the chapter on “Labour in the AI Era” is very interesting. It identifies capacity building and institution building as the “need of the hour” and thereby requiring Government, private sector and academia to work closely. The survey also identifies the need for a proper regulatory framework to ensure that AI revolution has a positive social impact."

Naveen Aggarwal, Office Managing Partner – Delhi NCR, and Partner Tax, KPMG in India

India stands at a pivotal moment in its economic journey. The Economic Survey 2024-25 highlights a strong growth trajectory, driven by infrastructure, innovation, and rising private consumption, reinforcing our path to becoming the world’s third-largest economy. The imperative now is to sustain this momentum—by unlocking investment, accelerating structural reforms at the grassroot level, deregulation, and ensuring inclusive growth while building on what have been the uptick drivers. As we look ahead to Budget 2025, there is an eager anticipation to see us continue to tread on the reform and reinforce course, helping shape a future of opportunity, resilience, and leadership on the global stage.