New tax slabs
The new tax slabs are:
Zero to Rs 4,00,000- No Tax
Rs 4,00,000 to Rs 8,00,000---5%
Rs 8,00,0001 to Rs 12,00,000---10%
Rs 12,00,001 to 16 lakh rupees---15%
Rs 16,00,001 to 20 lakh rupees---20%
Rs 20,00,001 to 24 lakh rupees-- 25%
Above 24 lakh---30%
FM concludes Budget speech
Finance Minister Nirmala Sitharaman concludes Budget speech.
Finance Minister Nirmala Sitharaman presents Union Budget 2025-26
- Govt allows taxpayers to claim annual value of two self-occupied properties as nil: FM.
- Revenue of 1 lakh crore in direct taxes will be foregone: FM
- No income tax payable upto 12 lakh rupees: FM
- Slabs and rates are being changed across the board: FM
- Democracy, demography and demand are key towards Viksit Bharat
- Withdrawals from NSS exempted from income tax for senior citizens: FM
- Committed to keep ear on the ground and finger on the pulse while balancing the country's growth: FM
- TDS and TCS to be rationalised
- Higher TDS only for Non-PAN
- TDS: Annual limit of INR 2.40 lac limit on rent increased to 6 lacs under Section 194I
- Four years time limit for updated returns
- Delay for TCS payment decriminalised
- New Income Tax bill to carry forward the spirit of Nyaya: FM
- (Draft IT Bill) Simple to understand for taxpayers and reduce litigations: FM
- Rs 500 crore allocated towards establishing an artificial intelligence centre of excellence focused on education
- Prices of mobile phones, laptops, digital cameras, and other electronics to come down
- Price of medical and dental devices to come down
- EV prices to come down
- Price of certain leather goods to come down
- 36 life saving drugs for cancer, rare and severe chronic diseases patients to be exempted fully from customs duty: FM
- Fiscal deficit estimated at 4.8% of GDP: FM (in Budget 2024-25 it was estimated at 4.9%)
- Seven tariff rates to be removed. Only eight tariff rates to remain: FM
- Jan Vishvaas Bill 2.0 to be introduced, to decriminalise over 100 laws: FM
- Investment Friendliness Index for states to be prepared: FM
- 100% insurance FDI if premium invested in India: FM
- KYC process to be simplified; streamline system for periodic updating; Revamped KYC registry to be rolled out: FM
- New Tax bill to be presented next week: FM
- Tax department committed to trust first, scrutinise later: FM
- Heal in India to be promoted: FM
- Gyan bharatam mission for museums, collectors to digitalise one crore manuscripts: FM
- A deep tech fund of funds to catalyze next gen start ups, 10,000 fellowships for tech research: FM
- Top 50 tourist destination to be developed with partnership with states: FM
- Mudra loans for homestays: FM
- Special focus on destinations related to the life and time of Gautam Buddha: FM
- Greenfield airports to be facilitated in Bihar to meet the needs of the state in addition to the expansion of the capacity of Patna: FM
- Modified UDAN scheme launched to enhance regional connectivity in 120 new destinations and carry 4 crore passengers in 10 years: FM
- Western Kosi canal project announced in Bihar, to benefit farmers in Mithilanchal region: FM
- Nuclear Energy Mission with an outlay Rs 20,000 crore to be set up to operationalise five reactors by 2033: FM
- Fund of funds for startups to be set up with Rs 10,000 crore contribution from govt: FM Sitharaman
- Jal Jeevan Mission extended till 2028 with enhanced outlay: FM
- Gig workers provide great dynamism. ID cards to arranged and registration on shram portal and healthcare scheme. One crore gig workers to benefit: FM
- Rs. 1.5lakh crore proposed for states to build infrastructure: FM
- Expansion of IITs: 100% increase in students in the last five years. Additional infrastructure to be created in five IITs set up after 2014. IIT Patna to be expanded: FM (Bihar goes to polls in 2025)
- 130 per cent increase in MBBS seats in the last 10 years: FM
- Broadband connectivity to all government secondary schools and primary health centers: FM
- India Post to be transformed into large public logistic organisation with 1.5 lakh rural post offices to become catalyst for rural economy: FM
- Five national centre of excellence for skilling to be set up with global partnership for Make for India, Make for World: FM
- Food processing institute to be established in Bihar to enhance farmers income and skilling youth: FM (Bihar goes to vote later this year)
- Urea plant to be set up in Assam: FM
- With quality products, MSMEs are responsible for 45% of our exports: FM
- New scheme for first time entrepreneurs among women and scheduled castes: FM
- Credit guarantee covered to be enhanced from Rs five crore to Rs. 10 crore for MSME: FM
- Some Opposition members have walked out while the FM reads her speech.
- Five-year mission for cotton productivity to be launched; cotton productivity mission to work towards rejuvenating India's textile sector: FM
- National mission on high-yielding seeds to be launched.
- Special focus on Andaman & Nicobar and Lakswadweep on pisciculture: FM
- Makhana board to be established in Bihar for Makhana farmers: Nirmala (Bihar goes to vote later this year)
- Dhan Dhanya Krishi Yojana in partnership with states in 100 districts across the country. This programme likely to help 1.7 crore farmers. Address under-employment in agriculture sector: FM
- Near self-sufficiency achieved in pulses, consumption has increased significantly. Six year mission for pulses with focus on Toor, Urad and Masoor: FM
- Agriculture, MSME, investment and exports are our four powerful engines for Vikshit Bharat: Nirmala
- Budget aims to invigorate private sector investments, uplift household sentiments, bolster power of India's rising middle class: Finance Minister
- Ten broad areas covered in the budget focusing on poor, women and farmers: FM
- Viksit Bharat encompasses zero poverty, accessible healthcare, meaningful employment and 70% women in economic activities: Nirmala Sitharaman
- Our economy is the fastest growing among all major economies: FM Nirmala Sitharaman
- Finance Minister Nirmala Sitharaman presents Union Budget 2025-26
Speaker calls upon finance minister to start Budget speech
Speaker calls upon finance minister to start Budget speech amid Opposition raising slogans
Opposition on Budget 2025
Congress leader Jairam Ramesh on Budget expectation: "We all know what the serious situation the economy is in. We need GST 2.0, we need freedom from tax terrorism, we need doses of private investment, we need middle-class consumption to increase. Whether the Budget will make any announcements in this regard, I have no idea but even if announcements are made today it will take more than 8-9 months... at least a year for their effects to be seen."
Congress Lok Sabha MP, Manish Tewari on Budget 2025: "What is a budget ? It is nothing more than an accounting exercise. How much did Government earn and how much did it spend . Over the years it has evolved into an annual grandstanding ritual for the Finance Minister. It is as useless a ritual as the President address. The income and expenditure statement of the government can just be laid on the floor of the house."
Akhilesh Yadav: There is a more important thing than budget at the moment - people in Maha Kumbh are still looking and searching for their relatives
Budget expectations
Union minister Gajendra Singh Shekhawat on Budget expectations: "...this will be a new and strong step towards the welfare of the poor and the resolve to make the country developed. We should wait a little to see what will be discussed because patience always yields sweet results."
President of PHD Chamber of Commerce and Industry (PHDCCI), Hemant Jain on Budget expectations: "In the last couple of years, the growth has come down. We need to ensure that the growth rate is increased. This will happen by giving more money in the hands of the people and also improving the ease of doing business. We expect that income tax will be improved in favour of the middle class and investments will be increased in infrastructure and manufacturing sector..."
Kamal Kumar, advisor, Dhanuka Agritech Limited, on Budget expectations: “I represent crop protection industry and we manufacture agro-chemicals. We are looking at government incentives to the farming community in such a manner that it becomes more prosperous. We also ask for a reduction in GST from 18 per cent to 5 per cent, if not less to zero per cent as it is in fertilizer and seeds. The crop protection should also must have a lower GST.”
Indian arm of Jetline Group and JetSynthesys Chairman and MD Rajan Navani on Budget expectations: "We have very high expectations from this Budget. The government is set to present its first big Budget, and with four years still in administration, balancing growth with the fiscal deficit under constraints will be a major challenge. Certain tax exemptions, especially for the middle class, and initiatives to inspire the younger generation to take on more challenges and build a secure future—such as those promoting entrepreneurship—will be crucial. We hope this Budget will significantly define the roadmap toward the ‘Viksit Bharat 2047’ ambition."
Cabinet approves Union Budget 2025-26
The Union Cabinet headed by Prime Minister Narendra Modi on Saturday approved the Union Budget 2025-26. Following this, Finance Minister Nirmala Sitharaman will present her eighth record Budget in the Lok Sabha that comes in the backdrop of growth slowing down to four-year-low of 6.4 per cent and clamour for tax relief amid moderation in consumption.
This is the second Budget of the BJP-led NDA government in its third term in office.
FM Nirmala Sitharaman reaches Parliament
Union Budget 2025: FM Nirmala Sitharaman reaches Parliament.
PM Modi leaves for Parliament to attend the Budget Session
PM Narendra Modi leaves for Parliament to attend the Budget Session.
FM wearing Madhubani saree by Dulari Devi, a 2021 Padma Shri awardee
Union Finance Minister Nirmala Sitharaman is wearing a Madhubani saree by Dulari Devi, a 2021 Padma Shri awardee.
FM @nsitharaman is wearing a Madhubani saree by Dulari Devi, a 2021 Padma Shri awardee.
— DD News (@DDNewslive) February 1, 2025
During her visit to Madhubani for a credit outreach initiative at the Mithila Art Institute, FM spoke to Dulari Devi about Madhubani art in #Bihar. Dulari Devi gifted her a saree and… pic.twitter.com/kR7cyKtXqJ
FM Nirmala Sitharaman meets President Droupadi Murmu
- FM Nirmala Sitharaman meets President Droupadi Murmu
- President Droupadi Murmu offers ‘Dahi-Cheeni’ to Union Finance Minister Nirmala Sitharaman at Rashtrapati Bhavan.
VIDEO | Union Budget 2025: President Droupadi Murmu (@rashtrapatibhvn) offers ‘Dahi-Cheeni’ to Union Finance Minister Nirmala Sitharaman (@nsitharaman) at Rashtrapati Bhavan.#BudgetSessionWithPTI #Budget2025WithPTI
(Full video available on PTI Videos - https://t.co/n147TvrpG7) pic.twitter.com/kI48ZaRFh8
— Press Trust of India (@PTI_News) February 1, 2025
VIDEO | Union Budget 2025: President Droupadi Murmu (@rashtrapatibhvn) offers ‘Dahi-Cheeni’ to Union Finance Minister Nirmala Sitharaman (@nsitharaman) at Rashtrapati Bhavan.#BudgetSessionWithPTI #Budget2025WithPTI
— Press Trust of India (@PTI_News) February 1, 2025
(Full video available on PTI Videos - https://t.co/n147TvrpG7) pic.twitter.com/kI48ZaRFh8
Markets open higher ahead of Budget presentation
Sensex rallies 136.44 points to 77,637.01 in opening trade ahead of Budget presentation; Nifty up 20.2 points to 23,528.60
Sitharaman takes Tablet in red pouch to present paperless budget
Finance Minister Nirmala Sitharaman Sitharaman takes Tablet in red pouch to present paperless budget
Union Finance Minister Nirmala Sitharaman calls on President Droupadi Murmu at Rashtrapati Bhavan
Union Finance Minister Nirmala Sitharaman calls on President Droupadi Murmu at Rashtrapati Bhavan ahead of presenting the Budget.
Nirmala Sitharaman poses with red 'bahi-khata' tablet
Finance Minister Nirmala Sitharaman poses with red 'bahi-khata' tablet
Union Finance Minister Nirmala Sitharaman outside the Finance Ministry ahead of the presentation of the ‘Union Budget 2025-26’, in New Delhi, Saturday, Feb. 1, 2025. (PTI)
Budget documents arrive at Parliament
Budget documents arrive at Parliament ahead of Union Finance Minister Nirmala Sitharaman's Budget presentation.
Budget documents being taken inside the Parliament. Finance Minister Nirmala Sitharaman is scheduled to present the Budget at 11 am.
Union Finance Minister shows the tablet containing Budget documents
Union Finance Minister Nirmala Sitharaman shows the tablet containing Budget documents before leaving for the Parliament from Finance Ministry.
Finance Minister reaches Ministry of Finance
Finance Minister Nirmala Sitharaman reaches Ministry of Finance. She will present the Union Budget 2025 in the Parliament today.
