Union Budget 2025: Big income tax relief, push to Make in India and other highlights

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Union Budget 2025: Big income tax relief, push to Make in India and other highlights

//business-finance.news-articles.net/content/202 .. -push-to-make-in-india-and-other-highlights.html

Published in Business and Finance on Saturday, February 1st 2025 at 3:00 GMT by

Firstpost

India's economic trajectory remains robust as Finance Minister Nirmala Sitharaman presented the Union Budget 2025 on Saturday. She emphasised on strong GDP growth, moderated inflation, and buoyant investment activity despite global uncertainties.

The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman, focuses on several key areas aimed at boosting economic growth and public welfare in India. Key highlights include significant income tax relief for the middle class, with an increase in the tax rebate limit from Rs 5 lakh to Rs 7 lakh under the new tax regime, and a reduction in the number of tax slabs to simplify the tax structure. The budget also emphasizes the 'Make in India' initiative by announcing a Rs 1 lakh crore fund to support research and development in sunrise sectors like renewable energy, semiconductors, and space technology. Additionally, there are plans to enhance infrastructure development, with a substantial increase in capital expenditure to Rs 10 lakh crore, aimed at improving connectivity and logistics. Other notable points include a push towards digitalization, healthcare improvements through increased funding for health infrastructure, and initiatives to promote tourism and cultural heritage. The budget also addresses environmental concerns by promoting green growth and sustainable practices, alongside measures to support agriculture, rural development, and education.

Read the Full Firstpost Article at:
[ https://www.firstpost.com/world/union-budget-2025-big-income-tax-relief-push-to-make-in-india-and-other-highlights-13858497.html ]

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