Budget 2025 Highlights: Key Announcements Explained
Union Finance Minister Nirmala Sitharaman presented her eighth consecutive Union Budget on February 1, 2025. The announcement of major income tax rebates has been a significant highlight, drawing attention from the middle-class.
Key Focus Areas:
- Support for MSMEs, women, farmers, and the education sector
- Boosting exports and domestic manufacturing
- Enhancing infrastructure and innovation
- Strengthening India’s economic growth towards “Viksit Bharat@2047”
Taxation & Economic Growth
- Income Tax Rebate: The rebate limit has increased to ₹12 lakh, benefiting middle-class taxpayers.
- New Tax Slabs: Revised tax structure with reduced rates for various income brackets.
- Economic Growth Projection: The Economic Survey projects a GDP growth rate of 6.3-6.8% for the next financial year.
Manufacturing & Exports
- Make in India Boost: Incentives for domestic manufacturing, including textiles, electronic goods, and lithium-ion batteries.
- Export Promotion Mission: A new initiative to support MSMEs in global trade.
- BharatTradeNet (BTN): A digital infrastructure to streamline international trade.
Infrastructure & Development
- Revamping India Post: Expansion of services for MSMEs, self-help groups, and rural entrepreneurs.
- Shipping & Maritime Sector: New clusters, financial assistance policies, and a ₹25,000 crore Maritime Development Fund.
- Nuclear Energy Mission: Aiming for 100GW nuclear power capacity by 2047.
Welfare & Social Impact
- Healthcare: 36 life-saving medicines, including cancer and rare disease treatments, exempted from Basic Customs Duty.
- Education & Research: ₹20,000 crore allocated to private sector-driven research and deep-tech startups.
- Affordable Housing: SWAMIH Fund 2 launched with ₹15,000 crore to complete stalled housing projects.
Regulatory & Investment Reforms
- Investment Friendliness Index: Ranking states to boost investor confidence.
- Regulatory Overhaul: High-level committee to simplify compliance and decriminalize over 100 provisions.
Stay tuned for live updates and expert analysis on how these budget provisions impact you!
