Budget 2025: Major Relief for Middle Class, No Tax on Income up to ₹12 Lakh

Dyanand singh

Union Finance Minister Nirmala Sitharaman presented the Budget 2025 in Parliament today, making several key announcements. The government’s primary focus is on economic growth, poverty alleviation, women’s empowerment, and youth development.

Major Announcement for the Middle Class

In a significant change to the income tax system, the government has announced that no tax will be levied on annual income up to ₹12 lakh. This decision will provide financial relief to the middle class and enhance their purchasing power.

10 Key Themes of Budget 2025:

Poverty eradication and rural development
Women’s empowerment and youth welfare
Manufacturing and industrial development
Agricultural reforms and food security
Expansion of the health and medical sector
Infrastructure and urban development
Education and technological innovation
Tourism and cultural heritage preservation
Energy and environmental improvements
Financial sector reforms and digitization

Major Announcements:

Agriculture and Rural Development

‘Dhan Dhanya Yojana’ to be launched in 100 districts.
Special six-year mission for Arhar, Urad, and Masoor pulses.
Establishment of ‘Makhana Board’ in Bihar.
Central agencies to procure pulses for four years.
New schemes for vegetable and fruit production in collaboration with states.
Farmer Credit Card limit increased to ₹5 lakh.
New urea plant to be set up in Assam.

Industry and Trade

India Post to be developed as a major logistics organization.
Special credit card scheme for small businesses.
New schemes to achieve self-sufficiency in edible oils.
Initiative to make India a global toy manufacturing hub.
22 lakh new jobs to be created in the leather industry.
Launch of the National Manufacturing Mission.

Education and Health

Promotion of education in Indian languages.
Establishment of more IIT institutions.
75,000 new medical seats to be introduced over the next five years.
Special AI research centers to be set up.
Health insurance scheme for small workers.

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Financial Reforms and Tax Relief

UPI-linked cards for small vendors.
UPI-linked credit card limit set at ₹30,000.
Tax exemption limit for senior citizens increased to ₹1 lakh.
TDS exemption limit on rent increased to ₹6 lakh.
No penalty for delayed TCS payments.
100% FDI and FPI limit in the insurance sector.
Simplification of the RE-KYC process.

Infrastructure and Energy

Interest-free funds for states to boost infrastructure development.
₹1 lakh crore fund for urban development.
Special focus on nuclear energy until 2047.
Special scheme for the shipbreaking industry.
More cities to be connected under the ‘Udaan’ scheme.
New airport to be constructed in Bihar.
40,000 residential units under the SWAMIH scheme.

Tourism and Cultural Heritage

Development of 52 new tourist destinations.
Conservation and development of Buddhist sites.
Special scheme for preserving Indian scripts.
New schemes to promote exports.

Biggest Announcement:

The most significant announcement in this budget is that no tax will be levied on annual income up to ₹12 lakh. This step will provide financial relief to middle-class families and boost consumer spending in the economy.

The government is also set to introduce a new Income Tax Bill next week, aimed at further simplifying the tax system. Revisions in tax rates and the removal of import duties on certain life-saving medicines have also been proposed.

Objective of Budget 2025:

This budget is a major step towards accelerating the nation’s development while ensuring economic and social empowerment for every section of society.

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