Big tax relief for middle class, push for agriculture, MSMEs: Takeaways of Union Budget 2025-2026

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Big tax relief for middle class, push for agriculture, MSMEs: Takeaways of Union Budget 2025-2026

//business-finance.news-articles.net/content/202 .. e-msmes-takeaways-of-union-budget-2025-2026.html

Published in Business and Finance on Saturday, February 1st 2025 at 6:41 GMT by

Firstpost

Nirmala Sitharaman made a slew of huge announcements during the 2025-2026 Union Budget speech - perhaps none bigger than that there would be no tax on income up to Rs 12 lakh under the new regime. But what other schemes did the finance minister unveil?

The Union Budget for 2025-2026, presented by Finance Minister Nirmala Sitharaman, focuses on several key areas aimed at economic growth and social welfare. It includes significant tax relief for the middle class, with an increase in the income tax exemption limit to Rs 7 lakh under the new tax regime, and a reduction in the highest surcharge rate from 37% to 25%. The budget also emphasizes support for agriculture and MSMEs through measures like the establishment of an Agriculture Infrastructure Fund, promoting digital agriculture, and providing financial assistance to small farmers. For MSMEs, there are initiatives to enhance credit access, reduce compliance burdens, and promote digital transactions. Additionally, the budget outlines plans for infrastructure development, healthcare improvements, and environmental sustainability, including a push towards renewable energy and electric vehicles. The overarching theme is to foster inclusive growth, boost employment, and ensure economic resilience in the post-COVID era.

Read the Full Firstpost Article at:
[ https://www.firstpost.com/explainers/big-tax-relief-middle-class-push-agriculture-msmes-takeaways-union-budget-2025-2026-13858607.html ]

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