Union Finance Minister Nirmala Sitharaman presents the Union Budget 2025-26 in Parliament.
Top 50 tourist destination sites in the country to be developed in partnership with states through a challenge mode.
Special focus on destinations related to the life and times of Lord Buddha.
Maritime Development Fund with a corpus of Rs. 25,000 crore to be set.
Jal Jeevan Mission to be extended till 2028.
15 crore households representing 80 percent of India’s rural population have been provided access to potable tap water connections.
To achieve 100 percent coverage, the extension of this mission until 2028 with an enhanced total outlay.
A separate MOU, or separate MOUs, will be signed with the states and union territories to ensure sustainability and citizen-centric water services delivery.
New Income tax return slab:
Zero Income Tax till ₹12 Lakh Income under New Tax Regime.
Slabs and rates being changed across the board to benefit all tax-payers.
New structure to substantially reduce taxes of middle class and leave more money in their hands, boosting household consumption, savings and investment.
‘Nil tax’ slab up to ₹12 lakh (₹12.75 lakh for salaried tax payers with standard deduction of ₹75,000).
FDI limit for insurance sector to be raised from 74% to 100%
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.
The scheme has benefited more than 68 lakh street vendors, giving them respite from high-interest informal sector loans.
The scheme will be revamped with enhanced loans from banks, UPI-linked credit cards with ₹30,000 limit, and capacity-building support.
Tax Reforms to Promote Investment and Employment
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.
PM Swannidhi scheme
The scheme has benefited more than 68 lakh street vendors, giving them respite from high-interest informal sector loans: Nirmala Sitharaman
The scheme will be revamped with enhanced loans from banks, UPI-linked credit cards with ₹30,000 limit, and capacity-building support.
Expansion of Medical Education
The Union government has added almost 1.1 lakh undergraduate and postgraduate medical education seats in 10 years, an increase of 130 percent : Nirmala Sitharaman
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.
Nuclear Energy Mission for Viksit Bharat : Nirmala Sitharaman
Development of at least 100 GW of Nuclear Energy by 2047, which is crucial for our energy transition efforts.
To foster an active partnership with the private sector towards this goal, amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act will be pursued.
Mission for Cotton Productivity : Nirmala Sitharaman
Will improve farmers’ incomes and ensure steady supply of quality cotton for rejuvenating India’s traditional textile sector.
5-year mission to significantly improve productivity and sustainability of cotton farming.
To promote extra-long staple cotton varieties .
New Income-tax Bill to be Introduced : Nirmala Sitharaman
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.
Assam:
Urea Plant in Assam: For Atmanirbharta in urea production, the Government had reopened three dormant urea plants in the Eastern region.
To further augment urea supply, a plant with annual capacity of 12.7 lakh metric tons will be set up at Namrup, Assam.
North East Region:
The cost norms for the nutritional support will be enhanced appropriately, under the Saksham Anganwadi and Poshan 2.0 programme that provides nutritional support to more than 8 crore children, 1 crore pregnant women and lactating mothers all over the country, and about 20 lakh adolescent girls in aspirational districts and the north-east region.
UDAN – Regional Connectivity Scheme: 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. The scheme will also support helipads and smaller airports in hilly, aspirational, and North East region districts.
Finance Minister Nirmala Sitharaman also proposed that the expanded range of services of India Post will include:
1) rural community hub co-location;
2) institutional account services;
3) DBT, cash out and EMI pick-up;
4) credit services to micro enterprises;
5) insurance; and
6) assisted digital services.
