Budget 2025 HIGHLIGHTS | FY26 fiscal deficit goal of 4.4%, revised new regime income tax rules, Bihar focus in FM's 8th Budget speech
Budget 2025 HIGHLIGHTS, India Union Budget 2025-26: Finance Minister Nirmala Sitharaman made history as she delivered her eighth Union Budget speech in Parliament on Saturday, February 1. The Finance Minister opened her speech by stating that the Narendra Modi 3.0 government views the next 5 years as a unique opportunity to stimulate growth, with India being the fastest growing economy among developing nations.
Budget 2025 HIGHLIGHTS, India Union Budget 2025-26: Finance Minister Nirmala Sitharaman made history by announcing her record eighth straight Union Budget in Parliament on February 1, 2025. The Narendra Modi 3.0 government views the next 5 years as a unique opportunity to stimulate growth, with India being the fastest growing economy among developing nations, the Finance Minister said. Sitharaman also said that through the Union Budget for 2025-26, the government continues its efforts to accelerate growth and provide inclusive development as "together, we embark on the journey to unlock our potential for greater prosperity".
India Union Budget 2025-26 | Follow this space for key takeaways from the Finance Minister's Budget 2025 speech:
Budget 2025 HIGHLIGHTS, India Union Budget 2025-26: Finance Minister Nirmala Sitharaman made history by announcing her record eighth straight Union Budget in Parliament on February 1, 2025. The Narendra Modi 3.0 government views the next 5 years as a unique opportunity to stimulate growth, with India being the fastest growing economy among developing nations, the Finance Minister said. Sitharaman also said that through the Union Budget for 2025-26, the government continues its efforts to accelerate growth and provide inclusive development as "together, we embark on the journey to unlock our potential for greater prosperity".
India Union Budget 2025-26 | Follow this space for key takeaways from the Finance Minister's Budget 2025 speech:
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Budget 2025 LIVE Update | PM congratulates FM & her team, says Budget 2025 to boost savings, investments, consumption, growth
This Budget lays a strong foundation enabling the country's citizens to save more and participate in the country's development, says the Prime Minister.
Here are key highlights of what the PM says:
- An important milestone in India's development journey
- Budget of 140 crore Indians' aspirations
- It fulfils the dreams of every Indian
- Budget 2025 will increase savings, increase investment, increase consumption and increase growth rapidly
- I congratulate Finance Minister Nirmala Sitharaman and her team for the people's Budget
- Usually the focus of the Budget is on how the government's treasury will be filled, but this budget is exactly the opposite of that
- This budget lays a very strong foundation on:
- How the pockets of the citizens of the country will be filled
- How citizens' savings will increase
- How citizens will become partners in development
- Important steps have been taken in the direction of reform in this Budget
- Decision to promote private sector in nuclear energy very historic
- It will ensure a major contribution of civil nuclear energy in the country's development going forward
- Due to infra status, big ship construction to be encouraged
- Atmanirbhar Bharat Abhiyan to get momentum
- Ship building provides most employment
- These Reforms are going to bring a big change in the coming times
- Announcements made for farmers in the Budget will form the basis of a new revolution in agriculture and rural economy
- Under PM Dhan-Dhanya Krishi Yojana, irrigation and infrastructure will be developed in 100 districts
- An increase in the Kisan Credit Card limit to Rs 5 lakh will help them more
- Income up to Rs 12 lakh has been exempted from tax
- This exemption from income tax will become a huge opportunity for those who have entered new professions and who have got new jobs
- There is a 360 degree focus on manufacturing in this Budget so that entrepreneurs, MSMEs, small entrepreneurs get strengthened, leading to the creation of new jobs
- Budget not only takes into account the current needs of the country but also helps us prepare for the future
- Deep Tech Fund for Startups, Geospatial Mission and Nuclear Energy Mission are such important steps
- I once again congratulate all the countrymen for historic people's Budget
- Once again, I congratulate the Finance Minister
- Thank you very much
Budget 2025 | FDI in insurance raised to 100% from 74%
The Finance Minister announces a hike in the foreign investment limit to 100 per cent in the insurance sector, from the current 74 per cent, as part of new-generation financial sector reforms.
The higher limit will be available for companies investing the entire premium in the country, says Nirmala Sitharaman.
"The current guardrails and conditionalities associated with foreign investment will be reviewed and simplified," she adds.
Budget 2025 LIVE Updates: FY26 gross borrowings pegged at Rs 14.82 lakh crore
The Union Budget pegs gross borrowings for the financial year beginning April 1 at Rs 14.82 lakh crore, with net borrowings at Rs 11.54 lakh crore.
Budget 2025 LIVE Update: Take a look at key announcements for middle-class in Budget FY26
- Higher nil-tax threshold for assessees with annual gross income up to Rs 12 lakh (excluding standard deduction)
- Revised income tax slabs in new tax regime
- Maximum tax rate of 30 per cent raised to incomes of Rs 24 lakh and above under new tax regime
- Income Tax Bill to be introduced to simplify tax rules & reduce litigation
Budget 2025 LIVE Update: Budget aims to initiate transformative reforms across 6 domains
These domains are:
- Taxation
- Power sector
- Urban development
- Mining
- Financial sector
- Regulatory reforms
ALSO READ: Budget 2025: FM Nirmala Sitharaman lays out vision for ‘Viksit Bharat’ with 10 key focus areas
Budget 2025-26 LIVE Update: FM Nirmala Sitharaman quotes Telugu poet & playwright Gurajada Appa Rao
Quoting Telugu poet and playwright Gurajada Appa Rao, the Finance Minister says: ‘Desamante Matti Kaadoi, Desamante Manushuloi’; meaning, ‘a country is not just its soil, a country is its people'."
The Finance Minister elaborates that the government's Viksit Bharat vision encompasses:
- Zero poverty
- 100% good quality school education
- Access to high-quality, affordable & comprehensive healthcare
- 100% skilled labour with meaningful employment
- 70% women in economic activities
- Farmers making India the ‘food basket of the world’
Budget 2025 LIVE Update: Effectively, no income tax for salaried taxpayers with up to Rs 12.75 lakh annual income (including standard deduction)
The finance minister says: "I am now happy to announce that there will be no income tax payable up to income of Rs 12 lakh (i.e. average income of Rs 1 lakh per month other than special rate income such as capital gains) under the new regime."
"This limit will be Rs 12.75 lakh for salaried taxpayers, due to the standard deduction of Rs 75,000."
Here are the new income tax structure under the new regime:
| New Regime Tax Slab | Tax Rate |
| Rs 0-4 lakh | Nil |
| Rs 4-8 lakh | 5% |
| Rs 8-12 lakh | 10% |
| Rs 12-16 lakh | 15% |
| Rs 16-20 lakh | 20% |
| Rs 20-24 lakh | 25% |
| Above Rs 24 lakh | 30% |
Budget 2025-26 LIVE Update: Assessees with Rs 12 lakh annual income to get Rs 80,000 tax benefit (rebate) in new regime, those with Rs 18 lakh income to get Rs 70,000 tax benefit
An income tax assessee with an annual income of Rs 12 lakh will get a tax benefit of Rs 80,000 in the new regime.
Similarly, an assessee with an annual income income of Rs 18 lakh will get a benefit of Rs 70,000.
A person with an income of Rs 25 lakh will be eligible to get a Rs 1.10 lakh a benefit of .
Budget 2025 Updates: Enhanced credit through Kisan Credit Card, says Finance Minister
Budget 2025-26 LIVE Update: Assessees with Rs 12 lakh annual income to get Rs 80,000 tax benefit (rebate) in new regime, those with Rs 18 lakh income to get Rs 70,000 tax benefit
An income tax assessee with an annual income of Rs 12 lakh will get a tax benefit of Rs 80,000 in the new regime.
Similarly, an assessee with an annual income income of Rs 18 lakh will get a benefit of Rs 70,000.
A person with an income of Rs 25 lakh will be eligible to get a Rs 1.10 lakh a benefit of .
Budget 2025 Updates Today | FM announces a number of steps focused on Bihar
Greenfield airports will be facilitated in Bihar to meet the state's future needs, in addition to the expansion of the capacity of Patna airport and a brownfield airport at Bihta, says the finance minister.
Budget 2025 LIVE Update: Direct & indirect tax changes to cost government Rs 1,02,600 crore
The finance minister says that the government will forego revenue of Rs 1 lakh crore on direct taxes and Rs 2,600 crore on indirect taxes on account of Budget 2025 tax changes.
- Direct Tax: Rs 1 lakh crore
- Indirect Tax: Rs 2,600 crore
Taxes make up for about two-thirds of the government's total income, contributing 63 paise to every rupee of revenue earned, as per Budget 2024 documents. Read more
Budget 2025 LIVE Update | Income tax rebate for those with annual income up to Rs 12 lakh in new regime, says finance minister
This benefit will be available as a rebate under the new tax regime, making the tax liability nil for those whose annual taxable income is up to Rs 12 lakh under the new regime.
Income tax assessees with annual incomes of up to Rs 12 lakh will get the benefit of Rs 80,000, says the finance minister.
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Budget 2025 Updates Today | Makhana Board in Bihar, special opportunity for state's people
Budget 2025 LIVE Update | BIG BREAKING—NO TAX ON ANNUAL INCOME UP TO RS 12 LAKH IN NEW REGIME