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Business News/ Economy / Union Budget 2025 Highlights: Nirmala Sitharaman will introduce IT bill next week, PM Modi congratulates FM
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Union Budget 2025 Highlights: Nirmala Sitharaman will introduce IT bill next week, PM Modi congratulates FM

Union Budget 2025 Highlights: Finance Nirmala Sitharaman will table the new Income Tax Bill next week.

Union Budget 2025 Highlights: FM Nirmala will introduce income tax bill next week.Premium
Union Budget 2025 Highlights: FM Nirmala will introduce income tax bill next week.

 Union Budget 2025 Highlights: Union Finance Minister Nirmala Sitharam's budget presented Budget 2025 in Parliament. One of the most talked about initiatives in the budget 2025 is the provision of no income tax on income up to 12 lakh.

Budget 2025 speech by Finance Minister Nirmala Sitharaman began at 11 am in the Lok Sabha. This is her eighth consecutive Budget presentation in Parliament and her second full-fledged budget under Modi 3.0.

Budget day today

Track all Budget 2025 LIVE updates with Mint.

Track Income Tax Budget 2025 LIVE updates with Mint as middle-class pins hope on FM for tweaks in income tax slabs.

Follow Budget 2025 share market impact LIVE Updates with Mint.

 

 

01 Feb 2025, 02:46:17 PM IST

Union Budget 2025 LIVE updates: PM Modi addresses the nation

Union Budget 2025 LIVE updates: Prime Minister Narendra Modi addresses the nation after Finance Minister Nirmala Sitharaman's budget speech in the Lok Sabha today.

01 Feb 2025, 02:15:39 PM IST

Budget 2025 LIVE updates: Historic budget, says Nitin Gadkari

Union Minister Nitin Gadkari said, "Finance Minister Nirmala Sitharaman has presented a historic budget of the country. This budget has a speciality to accelerate our budget. Just like always, this time also, she has given the infrastructure sector priority - the budget for the sector has increased and it will help infra and roads. The agriculture sector has also been given the priority. Income tax reform will be a massive benefit to the people of the middle class... This budget has encouraged the public-private partnership..."

01 Feb 2025, 02:09:19 PM IST

Budget 2025 LIVE updates: Where is the income? Shashi Tharoor on income tax relief

Congress MP Shashi Tharoor told ANI,"I think frankly the applause you heard from the BJP benches was for the middle-class tax cut. We look at the details and that may be a good thing. So if you have a salary you may be paying less tax. But the important question is what happens if we don't have a salary? Where is the income going to come from? For you to benefit from income tax relief, you actually need jobs. Unemployment was not mentioned by the Finance Minister... Ironic that the party that wants one nation, one election is actually using each election each state each year to give them more freebies. They may as well have multiple elections so they can get more applause from their allies."

01 Feb 2025, 01:44:53 PM IST

Budget 2025 LIVE updates:  ‘Rural Prosperity and Resilience’ programme introduced 

Budget 2025 LIVE updates: A comprehensive multisectoral ‘Rural Prosperity and Resilience’ programme will be introduced in partnership with states.This scheme will aim to address under-employment in agriculture through skilling, investment, technology in the rural economy. 

01 Feb 2025, 01:33:31 PM IST

Budget 2025 LIVE updates: FDI limit increase from 74% to 100% is a ‘paradigm shift,’ says Balamurugan Shanmugam, CIO of Aviva India

Budget 2025 LIVE updates: Balamurugan Shanmugam, Chief Investment Officer (CIO) of Aviva India, said that the increase in foreign direct investment (FDI) limit from 74% to 100% is a paradigm shift. 

“The increase of limit from 74% to 100% should not just be viewed as an incremental 26 percentage points. This is rather a paradigm shift. This is expected to bring in more players and more capital from existing players supporting IRDAI’s vision of ‘Insurance for all by 2047’. In addition to bringing in much-needed FDI into the country, this will also bring in better technical capabilities and new propositions for customers," said Shanmugam. 

01 Feb 2025, 01:04:14 PM IST

Budget 2025 LIVE updates: Old regime to be wiped out?

Budget 2025 LIVE updates: Rohit Garg, Partner, Shardul Amarchand Mangaldas & Co. said that the government's move shows that the old tax regime is set to be wiped out. 

“In the earlier budgets, the FM has clearly stated in the Parliament that the emphasis of the present government is to efface the present exemptions/deductions given to tax payer. In the older regime of slab taxation, such exemptions are allowed like section 80C deduction, HRA exemption etc. While in the new scheme, these exemptions are not allowed. Further, in last budget, govt has also made the new regime as the default scheme, clearly indicating the shift to be made to new regime. That being so, government's action of bringing the new income tax bill with less provisions clearly shows that the old regime will be wiped out," said Rohit Garg, Partner, Shardul Amarchand Mangaldas & Co.

01 Feb 2025, 12:49:04 PM IST

Budget 2025 LIVE updates: Adjustments to customs duties to foster expansion in India, says Abhishek Jain, Indirect Tax Head & Partner, KPMG.

Budget 2025 LIVE updates: Abhishek Jain, Indirect Tax Head & Partner of KPMG, highlighted that the adjustments announced to customs duties in India are set to foster expansion and development in the nation. 

“The 2025 budget maintained its emphasis on the “Make in India, Make for the World" initiative. Various schemes aimed at enhancing infrastructure and business friendly policies are expected to strengthen India’s position as a global hub for industries such as toys and leather. Measures to support shipbuilding, including financial assistance and duty rationalization, will further drive growth in this sector. Additionally, adjustments to customs duties, particularly in emerging and sustainable industries like electric vehicles and electronics, are set to foster expansion and development in these areas," said Jain. 

01 Feb 2025, 12:31:35 PM IST

Budget 2025 LIVE updates: FM Sitharaman aims to make India a developed economy

Finance Minister Nirmala Sitharaman pledges to reform India towards developed economy.

01 Feb 2025, 12:16:33 PM IST

Budget 2025 LIVE updates: TDS on rent increased

Annual limit for TDS on rent to be increased from 2.40 lakh to 6 lakh.

01 Feb 2025, 12:15:35 PM IST

Budget 2025 LIVE updates: Tax slabs revised

Under the Union budget 2025 the tax rate slabs have been revised.

01 Feb 2025, 12:13:06 PM IST

Budget 2025 LIVE updates: Nil tax slab up to ₹12 lakh

Nil tax slab reflects confidence on middle class for income up to 12 lakh.

01 Feb 2025, 12:11:35 PM IST

Budget 2025 LIVE updates: CKYC framework

“The new CKYC framework is a major step toward streamlining identity verification while strengthening data security. By replacing visible Aadhaar and PAN details with a CKYC Reference ID, the government aims to curb data misuse and simplify compliance for businesses and individuals. This should eliminate redundant KYC checks across banks, mutual funds, and insurers, making transactions smoother," says Sandeep Chilana, Managing Partner, CCLaw.

01 Feb 2025, 12:07:17 PM IST

Budget 2025 LIVE updates: Reduce compliance burden for charitable trust

Reduce compliance burden for charitable trust by increasing registration process from 5 years to 10 years.

01 Feb 2025, 12:06:18 PM IST

Budget 2025 LIVE updates: SWAMIH Fund 2.0

SWAMIH Fund 2.0 to be established with 15000cr outlay to target completion of 1 lakh units

01 Feb 2025, 12:05:22 PM IST

Budget 2025 LIVE updates:  TCS removed on remittances on education

TCS removed on remittances sent for education.

01 Feb 2025, 12:03:28 PM IST

Budget 2025 LIVE updates: Tax reforms

Personal income tax reforms with focus on middle class

01 Feb 2025, 12:01:53 PM IST

Budget 2025 LIVE updates: New IT bill will aim for ‘Nyay’

 The new income tax bill will aim for ‘Nyay’ and simplify the law for taxpayers.

01 Feb 2025, 12:00:52 PM IST

Budget 2025 LIVE updates: BCD on capital goods

Exemption of BCD on several capital goods required for manufacturing electric vehicle batteries will bring down the capital expenditure for setting up cell manufacturing plants in India, giving a boost to the nascent industry, according to FM.

01 Feb 2025, 12:00:00 PM IST

Budget 2025 LIVE updates: 36 life saving drugs become duty-free

 The government has removed duty on 36 life-saving drugs

01 Feb 2025, 11:58:31 AM IST

Budget 2025 LIVE updates: 100% FDI for insurance

The government has permitted 100% FDI in the insurance sector.

01 Feb 2025, 11:56:35 AM IST

Budget 2025 LIVE updates: Capital goods for EV battery manufacturing.

Budget 2025 LIVE updates: Capital goods added for EV battery manufacturing.

01 Feb 2025, 11:55:54 AM IST

Budget 2025 LIVE updates: Capex target cut down

Budget 2025 LIVE updates: Capex target for FY25 cut to 10.18 trillion from 11.1 trillion.

01 Feb 2025, 11:54:30 AM IST

Budget 2025 LIVE updates: Non-financial sector regulations

Budget 2025 LIVE updates: A high level committee to be set up for regulatory reforms for review of all non-financial sector regulations including certificates, licences. Panel to make recommendations within a year.

01 Feb 2025, 11:52:54 AM IST

Budget 2025 LIVE updates: Exempt social welfare surcharge 

Budget 2025 LIVE updates: Social welfare surcharge removed.

01 Feb 2025, 11:52:17 AM IST

Budget 2025 LIVE updates: Remove 7 tariff rates

Budget 2025 LIVE updates: FM proposes to remove 7 tariff rates, only 8 tariffs remaining.

01 Feb 2025, 11:50:48 AM IST

Budget 2025 LIVE updates:  Fiscal deficit

Budget 2025 LIVE updates: Fiscal deficit is estimated to be 4.4%.

01 Feb 2025, 11:50:00 AM IST

Budget 2025 LIVE updates: Revenue 

Budget 2025 LIVE updates: Revised revenue estimates 31.47 lakh crore.

01 Feb 2025, 11:49:00 AM IST

Budget 2025 LIVE updates: Jan Vishwas Bill 2.0

Budget 2025 LIVE updates: Jan Vishwas Bill 2.0 will be introduced.

01 Feb 2025, 11:45:07 AM IST

Budget 2025 LIVE updates: New Income Tax Bill will be introduced 

Budget 2025 LIVE updates: A new Income Tax bill will be introduced next week.

01 Feb 2025, 11:44:17 AM IST

Budget 2025 LIVE updates: Gene bank for 10 lakh plasm lines for genetic resources

Budget 2025 LIVE updates: Gene bank for 10 lakh plasm lines for genetic resources to be set up.

01 Feb 2025, 11:43:08 AM IST

Budget 2025 LIVE updates: Domestic electronics industry 

Budget 2025 LIVE updates: Domestic electronics industry will be promoted to support youth.

01 Feb 2025, 11:41:31 AM IST

Budget 2025 LIVE updates: Exports

Budget 2025 LIVE updates: Exports Promotion MIssion will be established.

01 Feb 2025, 11:40:51 AM IST

Budget 2025 LIVE updates: National geo-spatial Mission

Budget 2025 LIVE updates: National Geo-Spatial Mission will be introduced using PM Gati Shakti.

01 Feb 2025, 11:39:33 AM IST

Budget 2025 LIVE updates: Medical tourism and Heal in India introduced.

Budget 2025 LIVE updates: Medical tourism and Heal in India introduced

01 Feb 2025, 11:38:34 AM IST

Budget 2025 LIVE updates: Employment-led growth in tourism sector

Budget 2025 LIVE updates: Skill development of youth in hospitality, MUDRA loans to homestays, PLIs for destination management.

01 Feb 2025, 11:37:34 AM IST

Budget 2025 LIVE updates:  PM Dhan Dhanya Krishi Yojana

Budget 2025 LIVE updates: PM Dhan Dhanya Krishi Yojana introduced holistically covers major concerns of Indian agricultural system i.e., productivity, crop intensity and the post-harvest ecosystem. This is crucial because the past decade has seen cereal productivity in India declining 1-2%. Additionally, ICAR has estimated climate change will cause an impact of 10-30% by 2050, according to Crisil.

01 Feb 2025, 11:36:10 AM IST

Budget 2025 LIVE updates: Mining sector reforms

Budget 2025 LIVE updates: Mining sector reforms introduced.

01 Feb 2025, 11:35:24 AM IST

Budget 2025 LIVE updates: Greenfield airports in Bihar

Budget 2025 LIVE updates: Greenfield airports will be built in Bihar in addition to the capacity enhancement of Patna Airport.

01 Feb 2025, 11:34:35 AM IST

Budget 2025 LIVE updates: UDAN scheme

Budget 2025 LIVE updates: Modified UDAN scheme will be launched for 4 crore additional passengers.

01 Feb 2025, 11:33:51 AM IST

Budget 2025 LIVE updates: Maritime Development Fund

Budget 2025 LIVE updates: Maritime Development Fund with a corpus of 25,000 crore.

01 Feb 2025, 11:33:00 AM IST

Budget 2025 LIVE updates: Shipbuilding industry

Budget 2025 LIVE updates: Shipbuilding financial assisting policy will enhanced.

01 Feb 2025, 11:32:11 AM IST

Budget 2025 LIVE updates: Nuclear Energy Mission

Budget 2025 LIVE updates: 100 gigawatts of nuclear energy by 2047 for energy transition is necessary.

01 Feb 2025, 11:31:06 AM IST

Budget 2025 LIVE updates: Urban Challenge fund

Budget 2025 LIVE updates: Urban Challenge Fund constituted with an outlay of 1 lakh crore.

01 Feb 2025, 11:30:18 AM IST

Budget 2025 LIVE updates: Extension of Jal Jeevan Mission till 2028

Budget 2025 LIVE updates: The government has extended the Jal Jeevan Mission till 2028 with more outlay.

01 Feb 2025, 11:29:21 AM IST

Budget 2025 LIVE updates: More Medical College seats

Budget 2025 LIVE updates: 10,000 more Medical College seats by next year.

01 Feb 2025, 11:27:39 AM IST

Budget 2025 LIVE updates: Credit guarantee cover increased

Budget 2025 LIVE updates: Credit guarantee cover for micro and small enterprises increased to 10 cr from 5 cr earlier. Expected to disburse 1.5 lk cr additional credit over next 5 years. CGTMSE provides guarantees to eligible MSEs on loans availed from financial institutions. Under the scheme, MSMEs can avail collateral free loans at lower borrowing costs.

01 Feb 2025, 11:26:41 AM IST

Budget 2025 LIVE updates: Cancer centres in districts

Budget 2025 LIVE updates: In the next three years, the government will establish Cancer centres in all districts.

01 Feb 2025, 11:25:52 AM IST

Budget 2025 LIVE updates: Centre of Excellence in AI

Budget 2025 LIVE updates: Centre of Excellence in AI  will be established. 

01 Feb 2025, 11:25:15 AM IST

Budget 2025 LIVE updates: Number of students in IITs increased

Budget 2025 LIVE updates: The number of students in IITs ave increased from 65,000 to 1.35 lakh in 10 years. More infrastructure in IITs established after 2014.

01 Feb 2025, 11:24:09 AM IST

Budget 2025 LIVE updates: National Centres of Excellence

Budget 2025 LIVE updates: 5 National Centres of Excellence for youth launched.

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