Union Budget 2025 LIVE: Over 1 crore taxpayers will pay ZERO tax, says FM Nirmala Sitharaman

Mobile phones are likely to get cheaper as 28 additional goods which are used in mobile phone battery production have been added to the exempted capital goods list.

According to tax experts, increasing the threshold for TDS/TCS on various payments and foreign remittances is likely to improve cash flows for the taxpayers.

 Taxpayers can now claim the annual value of two self-occupied properties as nil, exempting them from notional rental income taxation. Earlier, only one property could be claimed as self-occupied, with additional properties taxed based on deemed rental income.

Anil G. Verma, Executive Director and CEO Godrej Enterprises Group says the Union Budget 2025 has paved the way for growth in critical sectors such as clean energy, aerospace, and defence.

PM Modi said this budget is a “force multiplier” and will ‘increase savings’ 

“ On the international travel front, while the increase in the Liberalized Remittance Scheme (LRS) limit to ₹10 lakh is a step forward, we were hoping for exemptions on TCS for global travellers which remains a concern,” says Vinay Bagri, co-founder & CEO, Niyo

Budget 2025 LIVE: According to Nirmala Sitharaman's Budget 2025-26 announcement, these are the key metrics to look for in the upcoming financial year. 

1. Total receipts (excluding borrowings) - ₹34.96 lakh crore

2. Net tax receipts - ₹28.37 lakh crore

3. Total expenditure - ₹50.65 lakh crore

4. Capital expenditure - ₹11.2 lakh crore

5. Fiscal deficit - 4.4 per cent of GDP

(As per the budget estimates of FY2025-26)

Budget 2025 LIVE: According to Union Finance Minister Nirmala Sitharaman's announcement, imported touch-display panels and knitted fabrics are set to become more expensive. 

In 2020, a new tax regime was introduced for taxpayers and in 2024, capital gain structure was revamped. Meanwhile, in Budget 2025, Nirmala Sitharaman announced that no income tax would be payable for income up to ₹12.75 lakh under the new tax regime

In India, the highest income tax rate is 30 percent for individuals in the top income bracket, with an additional surcharge of up to 25 or 37 percent, depending on which tax regime they are under. In the US, the maximum income tax rate is 37 percent, which applies to income exceeding $609,000, roughly equivalent to ₹5.3 crore.

The new tax regime is likely to be more advantageous for younger taxpayers as they are not required to make forced investments. The change in tax slabs under the new tax regime would further enable taxpayers to adopt more advantageous wealth creation plans and even take risks.

According to experts, the Budget 2025's focus on giving relief to the middle class by raising the tax exemption limit will likely leave more spare money in the hands of investors. Some of this amount is likely to move to stock markets.

According to the new tax slab changes by Nirmala Sitharaman, the new tax regime aims to ensure that individuals have more disposable income to spend and invest in the manner they want. The new regime has brought the tax slabs down for the middle-income and low-income earners.

Suzlon's Vice Chairman Girish Tanti says the expected outcomes from Budget 2025 are promising. He added that the incentives for electricity distribution reforms and intra-state transmission upgrades will likely improve the financial health of power companies.

Analysts believe the budget remains positive for investors, favouring consumption-driven sectors. Experts answer on where should investors focus post Budget.

Government expenditures are diversified to support national security, promote public welfare, and drive economic development.

The government's money, which it plans to spend during the financial year 2025-26 comes from tax revenue collections , non-tax revenue earnings (9%) from dividends, earnings and fees.

Tata Technologies MD Warren Harris says, “the allocation of ₹500 crore for a Centre of Excellence in Artificial Intelligence for education underscores the importance of fostering innovation and research in AI."

The Indian government will spend a total of ₹50.65 lakh crore during the financial year 2025-26 as per the Union Budget 2025-26 presented by Finance Minister Nirmala Sitharaman

Indian stock market indices, Sensex and Nifty 50, ended flat amid high volatility today, 1 February 2025, after the Union Budget 2025-2026 was presented in the Parliament.