Saralnama
Union Finance Minister Nirmala Sitharaman presented the Union Budget 2025-26, emphasizing tax relief for the middle class with no income tax up to Rs 12 lakh under the new regime and revised slabs to reduce tax burdens for higher incomes. The budget targets inclusive growth through increased capital expenditure, maintaining it at 3.14% of GDP, and promoting private sector investment. Key initiatives include extending tax benefits for startups, raising the annual TDS limit for rent to Rs 6 lakh, and doubling tax deduction limits for senior citizens. The government plans to register gig workers on the e-Shram portal to provide healthcare benefits and has allocated funds for housing projects under the SWAMIH scheme. Infrastructure development, agriculture, MSMEs, and healthcare sectors received focused attention, with increased credit support and schemes for organic farming and high-yield seeds. Customs duties on mobile phones and chargers were reduced by 15% to lower costs. The budget also proposes 100% FDI in insurance to attract foreign investment. No major corporate tax reforms or new privatization initiatives were introduced. Overall, the budget aims to boost consumption, investment, and economic confidence while maintaining fiscal prudence. (Updated 25 Aug 2025, 12:35 IST; source: link)