Budget 2025 - Key Announcements

Income Tax - 2025 : No income tax payable for those with income up to ₹12 lakh , Slabs under new tax regime revised

New Income Tax Bill to be simple to understand, leading to tax certainty and reduce litigation

Annual limit for TDS on rent of ₹2.4 lakh raised to ₹6 lakh

 TCS to be removed on remittances on education financed by loans

 Tax deduction limit on interest for senior citizens raised to ₹1 lakh

Govt Debt: Endeavor to keep fiscal deficit each year such that that central government' debt remains on a declining path as a percentage of the GDP

Travel and tourism: Modified Udaan Scheme to enhance regional connectivity to carry 4 crore people in next 10 years, Greenfield airports in Bihar and Top 50 tourism destinations to be developed.

Broadband connectivity to government secondary schools and primary health centers in rural areas under Bharat NET

Five National Centers of Excellence for skilling will be set up with global expertise and partnerships to equip youth with the skills required for make for India, make for the world

New Nuclear Mission for development of 100 GW of nuclear energy by 2047, five India made small modular reactors to be operationalised by 2033

Investing in people: 50,000 Atal Tinkering Labs to be set up in government schools

National Manufacturing Mission for small, medium and large industries to support clean tech manufacturing

10,000 additional seats to be created in medical colleges and hospitals, with the goal to add 75,000 seats in next five years

Makhana Board in Bihar, National Missions on high-yielding seeds and cotton productivity.

Prime Minister Dhandhanya Krishi Yojana in partnership with states for 1.74 crore farmers in 100 districts for enhancing productivity, crop diversification, storage, improvement in irrigation facilities, and long and term shot term credit facilities.

Credit Guarantee Cover to be enhanced to ₹10 crore for micro and small enterprises, and to ₹20 crore for start-ups

Centre of Excellence in AI for education to be set up with ₹500 crore outlay. Additional infrastructure to be created in 5 IITs started after 2014

Focus products scheme for footwear and leather sector to enhance productivity , quality and competitiveness

36 more life saving drugs and medicines exempted from customs duty

Safe harbour for tax certainty for NRIs who store components for supply to specific electronics manufacturing units