Budget 2025: 10 key announcements you must know from this budget | Farmers, income tax, women, middle class, defence & MSMEs
The Finance Minister also announced Prime Minister Dhan-Dhaanya Krishi Yojana. It is a developing agri-districts scheme that aims to benefit around 1.7 crore farmers by making farming more sustainable and profitable for farmers.
Nirmala Sitharaman, the Union Finance Minister presented her eighth budget today, February 1, 2025. She made several announcements related to middle class, women, startups, MSMEs, farmers, defence, customs, savings account and others. The budget announcement of 0 per cent income tax on up to Rs 12 lakh income has been widely discussed today. The first part of the budget session which started on January 31 will end on February 13, 2025. The second part of the session will begin on March 10 and end on April 4,2025. Sitharaman has presented six annual and two interim budgets during the Narendra Modi-led NDA governments.
In this article, we will discuss 10 key announcements made by Sitharaman in her budget speech today. Take a look:
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Rs 2-crore term loan for women entrepreneurs
The government will launch a Rs 2-crore term loan for five lakh first-time women, SC and ST entrepreneurs, Finance Minister Nirmala Sitharaman in her budget presentation on Saturday, February 1.
Fund of Funds scheme for startups
The Finance Minister announced another round of Fund of Funds scheme for startups with a corpus of Rs 10,000 crore to promote growth of budding entrepreneurs. The government has also increased the period of incorporation by five years for startups to avail tax benefits.
Income tax relief
The Finance Minister has exempted income of up to Rs 12 lakh from income tax and restructured tax slabs.
Ude Desh ka Aam Naagrik (UDAN)
"A modified UDAN scheme will be launched to enhance regional connectivity to 120 new destinations and carry 4 crore passengers in the next 10 years," said Sitharaman.
Government hikes defence expenditure
The government allocated Rs 6,81,210 crore for the defence budget for 2025-26, up from last year's outlay of Rs 6,21,940 crore.
PM Dhan Dhanya Krishi Yojana
Prime Minister Dhan-Dhaanya Krishi Yojana has also been announced. It is a developing agri districts scheme that aims to benefit around 1.7 crore farmers by making farming more sustainable and profitable for farmers.
MSMEs
The government will introduce customised credit cards with Rs 5 lakh limit for micro-enterprises.
Term loan
The government will provide a term loan of up to Rs 20 crore for well-run export-oriented MSMEs.
SWAMIH Fund 2
"Under the special window for affordable and mid-income housing (SWAMIH) fund, fifty thousand dwelling units in stressed housing projects have been completed, and keys handed over to home-buyers. Another forty thousand units will be completed in 2025," said FM.
India global toy hub
The Finance Minister announced implementation of schemes to facilitate and scale up toy manufacturing, thus giving an impetus to the 'Make in India' campaign.