New Delhi, February 1, 2025 – Union Finance Minister Nirmala Sitharaman today presented the Union Budget for 2025-26 in the Parliament. The primary focus of this budget is to strengthen the concepts of rapid economic growth, inclusive development, and a self-reliant India (Atmanirbhar Bharat).
In this budget, agriculture, MSMEs (Micro, Small, and Medium Enterprises), investment, and exports have been declared as the “four engines of growth.”
Key Highlights:
1. Reforms in the Agriculture Sector:
- Pradhan Mantri Dhan-Dhanya Krishi Yojana: To be launched in 100 low-production districts to boost agricultural productivity.
- Pulses Self-Reliance Mission: A six-year plan to increase the production of tur, urad, and masoor (pulses).
- Makhana Board (in Bihar): Established to promote the production, processing, and marketing of makhana.
- Kisan Credit Card (KCC): Credit limit increased from ₹3 lakh to ₹5 lakh.
2. Boost to the MSME Sector:
- Investment and annual turnover limits for MSMEs have been doubled.
- Credit Guarantee Scheme: Guarantee cover extended for loans up to ₹10 crore.
- New Scheme for Women and SC/ST Entrepreneurs: Provision of term loans up to ₹2 crore for 5 lakh new entrepreneurs.
3. Focus on Investment and Innovation:
- Saksham Anganwadi and Poshan 2.0: Nutritional support for 8 crore children and 1 crore pregnant women.
- Atal Tinkering Labs: Establishment of labs in 50,000 government schools to foster interest in science and technology.
- Artificial Intelligence (AI) Centers: ₹500 crore allocated for reforms in the education sector.
4. Key Measures for Export Growth:
- Export Promotion Mission: To be launched in collaboration with various ministries to boost exports.
- Bharat TradeNet: Digital infrastructure for international trade.
Tax Reforms:
- Personal Income Tax Exemption: Income up to ₹12 lakh is now tax-free, and for salaried individuals, the exemption limit is ₹12.75 lakh.
New Tax Slabs:
- ₹0–4 lakh: Tax-Free
- ₹4–8 lakh: 5%
- ₹8–12 lakh: 10%
- ₹12–16 lakh: 15%
- ₹16–20 lakh: 20%
- Above ₹20 lakh: 30%
Other Major Announcements:
- Jal Jeevan Mission: Target to ensure 100% rural water supply by 2028.
- Nuclear Energy Mission: Goal to achieve 100 GW nuclear energy production by 2047.
- Urban Development Challenge Fund: ₹1 lakh crore allocated for urban reforms.
- Investment in Space Sector: Special incentives for satellite launches and research.
Conclusion:
The Finance Minister described this budget as being based on the long-term vision of a “Developed India.” Significant decisions have been made for the common citizens, entrepreneurs, farmers, women, and the youth. This budget is expected to provide a substantial boost to economic stability, investment growth, and job creation.