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Budget 2025 LIVE Updates: No income tax upto Rs 12 lakh

Finance Minister Nirmala Sitharaman presented the first full India Budget of Modi 3.0, aiming to provide tax relief to the middle class while addressing

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Somatirtha Purohit
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Union Budget 2025

Union Budget 2025

Finance Minister Nirmala Sitharaman presented the first full India Budget of Modi 3.0, aiming to provide tax relief to the middle class while addressing the need for sustained economic growth. The Budget arrives as India's GDP growth is projected to dip to a four-year low of 6.4% in FY24, aligning with its decadal average.

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The Economic Survey forecasts growth between 6.3% and 6.8% for FY26, below the pace needed to achieve Viksit Bharat by 2047, stressing the importance of land and labor reforms. With India’s world-leading growth showing signs of slowing, the push for an 8% annual growth rate remains pivotal, as FY25-26 growth is expected to be lower than FY23-24’s 8.2%.

  • Feb 01, 2025 20:47 IST

    200 new Vande Bharat trains, 100 Amrit Bharat trains in next 2-3 years: Ashwini Vaishnaw

    Calling the Union Budget 2025-26 "amazing", Union Railways and Electronics and IT Minister, Ashwini Vaishnaw on Saturday said that with the big allocation to it, Indian Railways is all set to expand faster, safer and comfortable rail travel across the country. Read More...



  • Feb 01, 2025 20:06 IST

    Rs 20,000 crore allocated to DST to kickstart Rs 1 lakh crore research and development fund

    Signalling a commitment to research and development, Union Finance Minister Nirmala Sitharaman on Saturday allocated Rs 20,000 crore to the Department of Science and Technology as a corpus for a fund to promote private sector-driven innovation. Read More...



  • Feb 01, 2025 18:03 IST

    1 crore more people to pay zero income tax under Budget 2025-26: FM Sitharaman

    As many as 1 crore more people will pay no income tax after the increase in rebate to Rs 12 lakh announced in the Budget for 2025-26, Finance Minister Nirmala Sitharaman said on Saturday. Read more...



  • Feb 01, 2025 17:42 IST

    Defence Minister Rajnath Singh praises Budget 2025

    Defence Minister Rajnath Singh praised the Budget's "all-inclusive approach," and congratulated the Finance Minister for presenting an "excellent and epoch-making budget," aligning with PM Modi's vision of a Viksit Bharat.

    "This budget has taken an all-inclusive approach; from empowering poor sections of our society, to farmers to MSMEs to industries, and is also strengthening research in advanced technologies like Artificial Intelligence," he posted on social media.

    He welcomed the decision to provide income tax relief for annual incomes up to Rs 12 lakh and lauded the increased Defence allocation of Rs 6.81 lakh crore for FY 2025-26. He highlighted that the Rs 1.8 lakh crore capital outlay for Defence forces would enhance modernisation and technological advancements.

    "I am confident that under the able leadership of Prime Minister Narendra Modi, this budget will further strengthen security and ensure the prosperity of the country and take a big leap in realising the vision of a Viksit Bharat," he added. 



  • Feb 01, 2025 17:39 IST

    Home Minister Amit Shah calls Budget a "blueprint for making a Viksit and Shreshtha Bharat"

    Home Minister Amit Shah calling the Budget a "blueprint for making a Viksit and Shreshtha Bharat" in every sector.

    "This budget, which covers every sector - from farmers, the poor, middle class, women and children's education, nutrition and health to startups, innovation and investment - is the road map for PM Modi's self-reliant India," he posted on social media.



  • Feb 01, 2025 17:35 IST

    EAM Jaishankar lauds Union Budget

    External Affairs Minister (EAM) S. Jaishankar praised the Union Budget on Saturday, calling it a road map to achieve Prime Minister Narendra Modi's vision of a 'Viksit Bharat'.  

    He described it as forward-looking, employment-centric, and growth-oriented.

    Taking to X, Jaishankar congratulated Finance Minister Nirmala Sitharaman for presenting a Budget that builds upon a decade of structural reforms and transformative progress.

    Labelling it as a "Viksit Bharat Budget 2025," EAM Jaishankar said that the Budget "recognises the energies and contribution of the middle class to nation-building."

    "It reaffirms our steadfast resolve to the welfare of 'Gareeb, Yuva, Annadata and Nari'," he added.

    Jaishankar highlighted the Budget's focus on agriculture, MSMEs, investment, and exports, calling it a crucial step towards strengthening India's self-reliance and global engagement.



  • Feb 01, 2025 17:30 IST

    Tariffs are being brought down, tariffs are being simplified...

    Delhi: Union Finance Minister Nirmala Sitharaman says, "...One thing which I certainly would like to highlight is responding to the voice of the people, which is what Prime Minister Modi is known for in his administration. It's a very responsive government and as a result, the income tax simplification which I announced in July is already completed in its works and we shall bring the bill in the next week...So if we are talking of reform inclusive of taxation, the work is done. This budget also speaks about rationalization and customs. Tariffs are being brought down, tariffs are being simplified..." (ANI)



  • Feb 01, 2025 17:28 IST

    Over Rs 6.81 lakh crore allocated for MoD, defence pension increased by 14 pc

    The Union government allocated over Rs 6.81 lakh crore to the Ministry of Defence (MoD) on Saturday and further increased the defence pension by 14 per cent.

    An official of the MoD said that In pursuance of Prime Minister Narendra Modi-led government’s vision of ‘Viksit Bharat @ 2047’, with technologically advanced and ‘Aatmanirbhar’ Armed Forces, the Union Budget has made a provision of Rs 6,81,210.27 crore for Financial Year (FY) 2025-26 for the Ministry of Defence. Read more...



  • Feb 01, 2025 16:41 IST

    Sensex, Nifty end flat in highly volatile trade on Budget day

    Benchmark indices Sensex and Nifty ended flat in a special trading session on Saturday as investors saw little coming in from the Finance Minister Nirmala Sitharaman for retail investors and the overall markets in the Union Budget.Read More...



  • Feb 01, 2025 16:16 IST

    Sitharaman presents Rs 50.65 lakh cr Budget for FY26

    Finance Minister Nirmala Sitharaman on Saturday presented Union Budget 2025-26, envisaging an expenditure of Rs 50,65,345 crore, an increase of 7.4 per cent over the current fiscal.



  • Feb 01, 2025 16:15 IST

    Sports and youth affairs budget raised by over Rs 350 crore, Khelo India gets biggest share

    The government's flagship Khelo India programme to scout and nurture athletes at the grassroots level was the biggest beneficiary as the allocation for sports and youth affairs was hiked substantially by Rs 351.98 crore.

    PTI



  • Feb 01, 2025 16:10 IST

    Any doubt on new income tax slabs announced in Budget 2025? Check this explainer

    The Union Budget 2025 introduces revised income tax slabs to ease the burden on taxpayers, benefiting the middle class. The new regime raises the nil tax liability limit to Rs 12 lakh and offers marginal relief for incomes slightly above this threshold. Read More...



  • Feb 01, 2025 16:04 IST

    Law ministry gets over Rs 14,000 cr for carry forward expenditure on LS polls, EVMs

    The Union Budget 2025-26 has allocated more than Rs 1,400 crore to the law ministry to meet carry forward expenditure for holding the 2024 Lok Sabha elections and purchase of new electronic voting machines for the Election Commission.

    The legislative department in the law ministry is the nodal agency for the Election Commission (EC), polls, electoral laws and appointment of members to the poll panel. Read More...



  • Feb 01, 2025 15:54 IST

    Budget allocates Rs 74,226 crore for drinking water and sanitation

    The Centre has allocated Rs 74,226 crore for the Department of Drinking Water and Sanitation in the Union Budget 2025-26, with most of it allotted to the Jal Jeevan Mission which aims to provide tap water connections to rural households.

    PTI



  • Feb 01, 2025 15:30 IST

    PM Modi hails Union Budget 2025 as 'Janta Janardan Ka Budget'

    Prime Minister Narendra Modi on Saturday lauded the Union Budget 2025, calling it a "Janta Janardan Ka Budget" and emphasising its people-centric approach that will propel India's development journey.  Read More...



  • Feb 01, 2025 15:21 IST

    Indian stock market remains volatile post Union Budget

    The domestic stock market on Saturday saw significant fluctuations after Finance Minister Nirmala Sitharaman presented the Union Budget 2025-26.  Read More...



  • Feb 01, 2025 14:59 IST

    Budget 2025-26: Over Rs 334 cr outlay for training of babus, Rs 100 cr for administrative reforms

    More than Rs 334 crore has been allocated to the personnel ministry for the next fiscal to train government employees, both in the country and abroad, and augment necessary training related to infrastructure, according to the Union Budget 2025-26 presented by Finance Minister Nirmala Sitharaman on Saturday. Read More...



  • Feb 01, 2025 14:46 IST

    Union Budget 2025: What got cheaper and what's costlier; check full list

    Finance Minister Nirmala Sitharaman introduced massive reforms to the new income tax regime in the Union Budget 2025. In a major boost for the middle class, the FM announced tax exemption for salaried people earning up to Rs 12 lakh. Read More...



  • Feb 01, 2025 13:40 IST

    FM Sitharaman cuts fiscal deficit to 4.4 per cent of GDP

    Finance Minister Nirmala Sitharaman on Saturday presented the Budget 2025-26 in Parliament which aims to give a big push to employment-led growth with its focus on the agricultural and rural sector, MSMEs, and exports, while sticking to the fiscal consolidation path to ensure stability in the economy.  Read More...



  • Feb 01, 2025 13:32 IST

    Union Budget 2025: Check major announcements and highlights

    Union Minister for Finance and Corporate Affairs Nirmala Sitharaman presented Union Budget 2025-26 in the Parliament on Saturday.  Quoting Telugu poet and playwright Gurajada Appa Rao’s famous saying, ‘A country is not just its soil; a country is its people’ – the Finance Minister presented the Union Budget 2025-26 with the theme ‘Sabka Vikas’ stimulating balanced growth of all regions. Read More...



  • Feb 01, 2025 13:21 IST

    Budget 2025: Everything about 4 engines FM Sitharaman says crucial in Viksit Bharat journey

    While presenting the Union Budget 2025, Finance Minister Nirmala Sitharaman on Saturday said the budget promises to continue government’s efforts to accelerate growth, secure inclusive development, invigorate private sector investments, uplift household sentiments, and enhance spending power of India’s rising middle class. Read More...



  • Feb 01, 2025 13:17 IST

    FM announces Rs 20k cr nuclear mission, opens doors for private players

    Finance Minister Nirmala Sitharaman on Saturday unveiled a series of measures aimed at strengthening India’s atomic power sector, announcing a Rs 20,000-crore Nuclear Mission. The initiative includes amending the legal framework to bring in private players and the indigenous development of five small modular reactors. Read More...



  • Feb 01, 2025 13:00 IST

    Budget 2025: FM Sitharaman announces ID cards, health cover for gig & online platform workers

    Presenting the Union Budget 2025 on Saturday, Union Finance Minister Nirmala Sitharaman listed a few schemes for online platform workers and gig workers. Read More...



  • Feb 01, 2025 12:50 IST

    Budget 2025: From gold, mobile phones to electronics, here’s what got cheaper & expensive

    Union Finance Minister Nirmala Sitharaman on Saturday presented the Union Budget for the eighth consecutive time in Parliament, making history. She has surpassed the record of former Prime Minister and Finance Minister Morarji Desai last year. Read more...



  • Feb 01, 2025 12:38 IST

    Watch: No Income Tax payable up to an income of Rs 12 Lakh: FM Nirmala Sitharaman



  • Feb 01, 2025 12:36 IST

    Nirmala Sitharaman announces zero tax up to Rs 12 lakh, new benefits for middle class

    Zero income tax up to Rs 12 lakh (Rs 12.75 lakh for salaried taxpayers with a standard deduction of Rs 75,000)

    New structure to reduce taxes on the middle class and leave more money in their hands, boosting household consumption, savings and investment.

    Slabs and rates being changed across the board to benefit all taxpayers, says Nirmala Sitharaman

    Zero income tax up to Rs 12 lakh (Rs 12.75 lakh for salaried taxpayers with a standard deduction of Rs 75,000) New structure to reduce taxes on the middle class and leave more money in their hands, boosting household consumption, savings and investment. Slabs and rates being changed across the board to benefit all taxpayers: Nirmala Sitharaman



  • Feb 01, 2025 12:26 IST

    Budget Highlights

    Budget Highlights:



  • Feb 01, 2025 12:25 IST

    Union Budget 2025 | Rationalizing TDS / TCS

    UnionBudget2025 | Rationalizing TDS / TCS



  • Feb 01, 2025 12:23 IST

    Budget Highlights

    Budget Highlights:



  • Feb 01, 2025 12:21 IST

    WATCH: There will be no income tax up to an income of Rs 12 lakhs, says FM Nirmala Sitharaman



  • Feb 01, 2025 12:20 IST

    Finance Minister announces exemption of 35 goods for EV battery and 28 goods for mobile battery manufacturing

    Finance Minister Announces Exemption of 35 Goods for EV Battery and 28 Goods for Mobile Battery Manufacturing



  • Feb 01, 2025 12:18 IST

    Budget 2025: No tax till Rs 12 lakh income, says FM Nirmala Sitharaman

    Finance Minister Nirmala Sitharaman in her eighth Budget speech on February 1 said that there will be no income tax till Rs 12 lakh income. Read More...



  • Feb 01, 2025 12:16 IST

    WATCH: Nirmala Sitharaman Announces Modified UDAN Scheme



  • Feb 01, 2025 12:13 IST

    Budget Highlights

    Budget Highlights



  • Feb 01, 2025 12:12 IST

    New income tax bill to be introduced next week: Finance Minister during Budget presentation

    “I also propose to introduce the new income tax bill next week,” said Finance Minister Nirmala Sitharaman in Lok Sabha during the Union Budget 2025 presentation on Saturday.  Read More...



  • Feb 01, 2025 12:08 IST

    Budget 2025: Finance Minister announces expansion of capacity in IITs, cancer care in district hospitals

    During her Budget presentation in Lok Sabha today, Finance Minister Nirmala Sitharman announced the expansion of capacity in IIT. Total number of 23 IITs has increased 100% percent from 65000 to 1.35L in the past 10 years. Additional infrastructure will be created in the five IITs started after 2014 to facilitate education for 6500 more students. Read More...



  • Feb 01, 2025 12:07 IST

    Union Budget 2025 Highlights: Reforms and Development of Financial Sector

    Union Budget 2025



  • Feb 01, 2025 12:06 IST

    Budget 2025: India Post to be turned into large logistic body with 1.5 lakh rural post offices

    With an aim to transform India into a large logistics organisation, Finance Minister Nirmala Sitharaman on Saturday announced that the government has set a plan to set up 1.5 lakh rural post offices. Read more...



  • Feb 01, 2025 12:04 IST

    Budget Highlights

    Budget Highlights:



  • Feb 01, 2025 12:02 IST

    Budget 2025: FM Nirmala Sitharaman announces modified UDAN scheme to 120 new destinations

    The Union Budget 2025 has made arrangements for a modified UDAN Scheme, said Finance Minister Nirmala Sitharaman during her budget presentation on Saturday. Read More...



  • Feb 01, 2025 11:56 IST

    Union Budget 2025 Major Announcements

    Union Budget 2025 Major Announcements:



  • Feb 01, 2025 11:54 IST

    Cost norms for nutritional support programmes to be enhanced: Sitharaman

    Cost norms for nutritional support programmes like Saksham Anganwadi and Poshan 2.0 will be enhanced in the Union Budget 2025-26, Finance Minister Nirmala Sitharaman said on Saturday.

    Presenting her eighth consecutive budget, Sitharaman said Saksham Anganwadi and Poshan 2.0 programmes provide nutritional support to over 8 crore children, 1 crore pregnant and lactating women, and 20 lakh adolescent girls in aspirational districts and the northeast region.

    "The cost norms for these nutritional support (programmes) will be enhanced accordingly," she said.

    (PTI)



  • Feb 01, 2025 11:53 IST

    I-cards, registration on e-Shram portal for 1 crore gig workers: FM

    Finance Minister Nirmala Sitharaman on Saturday said the government will arrange identity cards and registration on the e-Shram portal to assist 1 crore gig workers.

    Presenting the Union Budget 2025-26, the finance minister also said a scheme for the socio-economic upliftment of urban workers will be implemented.

    "...Gig workers of online platforms provide great dynamism to the 'New Age' services economy. Recognising their contribution, our government will arrange for their identity cards and registration on the e-Shram portal," she said.

    Such workers will be provided health care facilities under the Pradhan Mantri Jan Arogya Yojana (PM-JAY) and this measure is likely to assist nearly one crore workers, Sitharaman added.

    (PTI)



  • Feb 01, 2025 11:51 IST

    Budget Highlights

    Union Budget 2025



  • Feb 01, 2025 11:50 IST

    Will revamp PM SVANidhi scheme for street vendors: Sitharaman

    PM SVANidhi scheme for street vendors will be revamped with enhanced loans from banks and UPI-linked credit cards with Rs 30,000 limit, Union Finance Minister Nirmala Sitharaman said on Saturday.

    Presenting her eighth consecutive budget, Sitharaman said the scheme has benefited more than 68 lakh street vendors through respite from high interest informal sector loans.

    "Building on this success the scheme will be revamped with enhanced loans from banks UPI-linked credit cards with Rs 30,000 limit and capacity building support," she said.

    PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) is a Special Micro-Credit Facility for providing affordable loans to street vendors. 

    (PTI)



  • Feb 01, 2025 11:47 IST

    50,000 Atal Tinkering Labs will be set up in next five years: FM

    Finance Minister Nirmala Sitharaman on Saturday said 50,000 Atal Tinkering Labs will be set up in the next five years to cultivate scientific temper in young minds.

    Presenting the 14th consecutive Budget under the Narendra Modi government since 2014, Sitharaman said that five national centres for skilling would also be set up with global expertise.

    Besides, the government will launch Bharatiya Bhasha Pushtak scheme to provide a digital form of Indian language books for schools and higher education.

    Further, she said that additional infrastructure will be created in in five IITs.

    Measures will be taken to promote nutritional support in the country, she said.

    (PTI)



  • Feb 01, 2025 11:46 IST

    Sitharaman announces Rs 10k cr fund of funds scheme for startups

     Finance Minister Nirmala Sitharaman on Saturday announced another round of Fund of Funds for Startups scheme with a corpus of Rs 10,000 crore to promote growth of budding entrepreneurs.

    The announcement assumes significance as the government is focusing on promoting innovation through startups.

    Department for Promotion of Industry and Internal Trade (DPIIT) has recognised over 1.5 lakh startups so far.

    (PTI)



  • Feb 01, 2025 11:43 IST

    WATCH: FM announces PM Dhan Dhyan Krishi Yojana, to benefit 1.7 cr farmers



  • Feb 01, 2025 11:40 IST

    India Post to be turned into large logistic body with 1.5 lakh rural post offices: FM

    Finance Minister Nirmala Sitharaman on Saturday announced the government's plan to transform India into a large logistics organisation with 1.5 lakh rural post offices.

    Presenting her eighth straight budget, Sitaraman said India Post will be transformed into a large public logistic organisation with 1.5 lakh rural post offices to become a catalyst for the rural economy.

    (PTI)



  • Feb 01, 2025 11:39 IST

    Govt to launch focused scheme for footwear, leather sectors: Sitharaman

     Finance Minister Nirmala Sitharaman on Saturday said a focused scheme will be launched for the footwear and leather sectors while steps will be initiated to make India a global toy manufacturing hub.

    The government will also launch a mission to support clean technology manufacturing activities, she said while presenting the Union Budget for 2025-26.

    She said investment as third engine encompasses investing in people, innovation, and economy.

    (PTI)



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