Union Budget 2025 LIVE: Zero Income Tax till Rs 12 Lakh Income under New Tax Regime

Finance Minister Nirmala Sitharaman presented a record 8th consecutive Union Budget on Saturday.

12:19 PM, 1st Feb

Zero Income Tax till Rs 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 Rs 12 lakh (Rs 12.75 lakh for salaried tax payers with standard deduction of Rs 75,000)

12:17 PM, 1st Feb

To provide relief to patients, especially those suffering from cancer and rare disease, I propose 36 life saving drugs in fully exempted custom duties.

-Union Finance Minister Nirmala Sitharaman

12:16 PM, 1st Feb

Union Budget 2025: A modified Udaan scheme will be launched to enhance regional connectivity to 120 new destinations, aiming to serve 4 crore additional passengers over the next 10 years.

-Union Finance Minister Nirmala Sitharaman

12:15 PM, 1st Feb

Union Budget 2025: Cancers centers will be set up in all districts. Day care centre for cancer treatment in next 3 years.

-Union Finance Minister Nirmala Sitharaman

12:13 PM, 1st Feb

PM Research Fellowship: 10 thousand scholarships to be provided for technological research.

-Union Finance Minister Nirmala Sitharaman

12:11 PM, 1st Feb

Union Budget 2025: National Institute of Food Technology, Entrepreneurship and Management to be set up in #Bihar to provide a strong fillip to food processing activities in the entire Eastern region.

12:08 PM, 1st Feb

Union Budget 2025: A Social Security Scheme for welfare of online platform workers. Gig workers, of online platforms who bring dynamism to the new-age services economy, will be recognized by the government. They will receive identity cards and be registered on the eShram portal. They will be provided health care under the PM Jan Arogya Yojana.

12:06 PM, 1st Feb

Union Budget 2025: Urban Challenge Fund will be set up with an outlay of 1 lakh crore rupees.

12:05 PM, 1st Feb

Union Budget 2025: 10,000 additional seats to be added in medical colleges.

-Union Finance Minister Nirmala Sitharaman

12:01 PM, 1st Feb

Union Budget 2025: The capacity of IITs will be expanded. The total number of students in the 23 IITs has increased by 100%, from 65,000 to 1.35 lakh in the past 10 years. Additional infrastructure will be created in the five IITs established after 2014 to accommodate 6,500 more students.

11:59 AM, 1st Feb

Union Budget 2025: India post, with its vast network, will be repositioned as catalyst for rural economy.

-Union Finance Minister Nirmala Sitharaman

11:57 AM, 1st Feb

Union Budget 2025: To improve access to credit, the credit guarantee cover will be enhance for micro-enterprise from 5 crore to 10 crore leading to additional credit of 1.5 lakh crores in the next five years.

11:54 AM, 1st Feb

Scheme to Make India a Global Toys Hub; To create high-quality toys representing the #MadeInIndia brand.

-Union Finance Minister Nirmala Sitharaman

11:53 AM, 1st Feb

Focus Product Scheme for Footwear & Leather Sectors is expected to facilitate employment for 22 lakh persons, turnover of Rs 4 lakh crore and exports of over Rs 1.1 lakh crore  

-Union Finance Minister Nirmala Sitharaman

11:50 AM, 1st Feb

New Fund of Funds for Startups to be set up

Fresh contribution of another Rs 10,000 crore, in addition to existing government contribution of Rs. 10,000 crore

New Scheme for 5 lakh Women, Scheduled Castes and Scheduled Tribes first-time entrepreneurs

-Union Finance Minister Nirmala Sitharaman

11:48 AM, 1st Feb

A centre of excellence for AI Education will be set up.

-Union Finance Minister Nirmala Sitharaman

11:45 AM, 1st Feb

PM Dhan Dhaanya Krishi Yojana- developing agri districts program...Our government will undertake a PM Dhan Dhaanya Krishi Yojana in partnership with states.

The program will cover 100 districts with low productivity, moderate crop intensity and below-average credit parameters.

- Union Finance Minister Nirmala Sitharaman

11:42 AM, 1st Feb

National Mission Edible oil seeds succeeded and achieved near self-sufficiency.

11:36 AM, 1st Feb

New Classification Criteria for MSMEs

- Investment limit for MSME classification to be made 2.5 times   

- Turnover limits for MSME classification to be doubled

Making it Easier for MSMEs to get Loans

- Credit guarantee cover for #MSMEs to be significantly enhanced  

- Customized Credit Cards for Micro Enterprises to be introduced

- Finance Minister Nirmala Sitharaman 

11:33 AM, 1st Feb

Union Budget 2025: A new schemes will be launched for SC, ST women first time entrepreneur with term loan upto to 2 crore rupees in the next 5 years.

- Finance Minister Nirmala Sitharaman 

11:32 AM, 1st Feb

Union Budget 2025: For the journey of development, our four power engines are agriculture, MSME, investments and exports, agriculture. - Finance Minister Nirmala Sitharaman 

11:28 AM, 1st Feb

"Dhan Dhaniya Krishi Yojna in partnership with States to cover 100 districts with low productivity Will help 1.7 cr farmers to build rural prosperity Generate ample opportunities in rural areas to make migration and option not necessity". -Finance Minister Nirmala Sitharaman 

11:21 AM, 1st Feb

This budget aims to initiate transformative reforms across six domains including taxation, power sector, urban development, mining, financial sector, and regulatory reforms.

- Union Minister Nirmala Sitharaman 

11:18 AM, 1st Feb

The proposed development measures in #Budget2025 span ten broad areas focusing on Garib, Youth, Annadata and Nari : FM

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The proposed development measures in #Budget2025 span ten broad areas focusing on Garib, Youth, Annadata and Nari#ViksitBharatBudget2025 #UnionBudget2025 pic.twitter.com/LILa2swROu

— PIB India (@PIB_India) February 1, 2025 >

11:10 AM, 1st Feb

Our economy is the fastest-growing among all major global economies. Our development track record of the past 10 years and structural reforms have drawn global attention. Confidence in India’s capability and potential has only grown in this period. We see the next five years as a unique opportunity to realize ‘Sabka Vikas’, stimulating balanced growth of all regions.

- Union Finance Minister Nirmala Sitharaman

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Our economy is the fastest-growing among all major global economies. Our development track record of the past 10 years and structural reforms have drawn global attention. Confidence in India’s capability and potential has only grown in this period. We see the next five years as a… pic.twitter.com/tSOSRfiUT5

— PIB India (@PIB_India) February 1, 2025 >