Budget Announcements
Sector | Announcement | Details/Comments |
Income Tax | New income tax regime | - Income up to Rs 12 lakh: No tax - Rs 8-12 lakh: 10% - Rs 12-16 lakh: 15% - Rs 16-20 lakh: 20% - Rs 20-25 lakh: 25% - Above Rs 25 lakh: 30% |
TDS on rent | Annual limit raised from Rs 2.4 lakh to Rs 6 lakh | |
Tax deduction for senior citizens | Limit doubled to Rs 1 lakh | |
Tax for salaried taxpayers | No income tax payable for income up to Rs 12.75 lakh | |
Tax on income up to Rs 4 lakh | Set at 0% under the new regime | |
Start-ups | Benefits continuation | Benefits for start-ups will continue for five years from inception |
Banking/Insurance | Grameen credit score framework | To be established for rural India |
FDI in insurance sector | Limit raised to 100% | |
Housing | Housing fund | Allocation of Rs 15,000 crore for the completion of one lakh housing units |
Agriculture | Atmanirbharta in oil seeds | Six-year mission launched |
Cotton yield improvement | Five-year mission initiated | |
Kisan Credit Card | Loan limit increased from Rs 3 lakh to Rs 5 lakh | |
Education | Atal Tinkering Labs | To be established in schools |
Broadband internet | Provision for government secondary schools | |
IIT infrastructure | Additional infrastructure to increase student capacity; IIT Patna to be expanded | |
Healthcare | Daycare cancer centres | To be set up in all district hospitals; 200 centres planned by fiscal 2026 |
Duty on life-saving drugs | Six life-saving drugs to have a 5% duty; 36 drugs exempted from basic customs duty | |
Growth | MSME credit guarantees | Coverage raised from Rs 5 crore to Rs 10 crore |
Infrastructure | PPP mode projects | Three-year projects can be implemented in PPP mode |
Interest-free loans | Rs 1.5 lakh crore allocated for states to implement infrastructure reforms | |
Regional airports | Over 100 new regional airports planned over the next decade | |
UDAN 2.0 | To connect 120 new airports, with a focus on Northeast and Bihar | |
Excise/Customs Duty | Export promotion mission | Set up for easier access to export credit |
Tariff rates | Proposal to remove seven tariff rates, leaving eight remaining | |
Economy | Investment-friendly index | To promote competition among states |
Fiscal deficit | Revised fiscal deficit target set at 4.8% for fiscal year 2025 | |
Capital expenditure | Set at Rs 10.18 lakh crore | |
Women's Development | Term loan for women entrepreneurs | Up to Rs 2 crore available for first-time entrepreneurs from SC/ST and backward classes |
Rural India | Nutritional support | For over eight crore children and one crore lactating mothers |
Make in India | National Manufacturing Mission | Provides policy support and monitoring framework |
Clean technology manufacturing mission | New initiative launched | |
Nuclear Energy Mission | Focused on research and development | |
Water Management | Jal Jeevan Mission | Extended until 2028 |
Technology | Centre of Excellence in AI | To be established with an allocation of Rs 500 crore |
EV battery manufacturing | Additional capital goods for production | |
Tourism | Visa fee waivers | For certain tourist groups |