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  4. From no Income Tax till Rs 12 lakh to Bihar Makhana Board, take a sneak peek into Budget

From no Income Tax till Rs 12 lakh to Bihar Makhana Board, take a sneak peek into Budget

Budget 2025: To provide relief to patients in Budget, particularly those suffering from cancer, rare diseases and other severe chronic diseases, Sitharaman proposed to add 36 lifesaving drugs and medicines to the list of medicines fully exempted from Basic Customs Duty.

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Edited By: Sheenu Sharma @@20sheenu
Updated: February 01, 2025 14:30 IST
Finance Minister Nirmala Sitharaman exempted annual income of up to Rs 12 lakh from income tax and rejigged tax slabs as part of her reformist Budget. Sitharaman laid out a blueprint for next generation reforms including raising FDI limit in insurance sector, simplification of tax laws, cutting duties on intermediaries while providing enhanced fiscal support for welfare measures.
1/15 Image Source : PIB INDIA
Finance Minister Nirmala Sitharaman exempted annual income of up to Rs 12 lakh from income tax and rejigged tax slabs as part of her reformist Budget. Sitharaman laid out a blueprint for next generation reforms including raising FDI limit in insurance sector, simplification of tax laws, cutting duties on intermediaries while providing enhanced fiscal support for welfare measures.
Makhana Board in Bihar: To improve production, processing, value addition, and marketing of Makhana. People engaged in these activities to be organized into FPOs. Board to provide handholding and training support to Makhana farmers.
2/15 Image Source : PIB INDIA
Makhana Board in Bihar: To improve production, processing, value addition, and marketing of Makhana. People engaged in these activities to be organized into FPOs. Board to provide handholding and training support to Makhana farmers.
Kisan Credit Cards facilitate short-term loans for 7.7 crore farmers, fishermen, and dairy farmers. Loan limit under Modified Interest Subvention Scheme to be raised from Rs 3 lakh to Rs 5 lakh.
3/15 Image Source : PIB INDIA
Kisan Credit Cards facilitate short-term loans for 7.7 crore farmers, fishermen, and dairy farmers. Loan limit under Modified Interest Subvention Scheme to be raised from Rs 3 lakh to Rs 5 lakh.
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Tax Reforms to Improve Ease of Doing Business-Scheme to be introduced for determining arm's length price of international transaction for a block period of three years, to streamline transfer pricing and to provide an alternative to yearly examination. Tax exemption to be provided on withdrawals made from National Savings Scheme by individuals on or after August 29, 2024.
4/15 Image Source : PIB INDIA
Tax Reforms to Improve Ease of Doing Business-Scheme to be introduced for determining arm's length price of international transaction for a block period of three years, to streamline transfer pricing and to provide an alternative to yearly examination. Tax exemption to be provided on withdrawals made from National Savings Scheme by individuals on or after August 29, 2024.
Finance Minister Nirmala Sitharaman proposed to fully exempt customs duty on 36 drugs used in the treatment of cancer, rare diseases and other severe chronic diseases. The government had earlier cut customs duties on Trastuzumab Deruxtecan, Osimertinib and Durvalumab from 10 per cent to nil.
5/15 Image Source : PIB INDIA
Finance Minister Nirmala Sitharaman proposed to fully exempt customs duty on 36 drugs used in the treatment of cancer, rare diseases and other severe chronic diseases. The government had earlier cut customs duties on Trastuzumab Deruxtecan, Osimertinib and Durvalumab from 10 per cent to nil.
Prime Minister Dhan-Dhaanya Krishi Yojana: Developing Agri Districts Programme-Scheme to cover 100 districts with low productivity, moderate crop intensity and below-average credit parameters. To enhance agricultural productivity, improve irrigation facilities and credit availability.
6/15 Image Source : PIB INDIA
Prime Minister Dhan-Dhaanya Krishi Yojana: Developing Agri Districts Programme-Scheme to cover 100 districts with low productivity, moderate crop intensity and below-average credit parameters. To enhance agricultural productivity, improve irrigation facilities and credit availability.
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Tax Reforms to Promote Investment and Employment. NRIs who provide services to a resident company that is establishing or operating an electronics manufacturing facility, to benefit from a presumptive taxation regime. Period of incorporation to be extended by 5 years to allow tax benefits to startups incorporated before April 1, 2030.
7/15 Image Source : PIB INDIA
Tax Reforms to Promote Investment and Employment. NRIs who provide services to a resident company that is establishing or operating an electronics manufacturing facility, to benefit from a presumptive taxation regime. Period of incorporation to be extended by 5 years to allow tax benefits to startups incorporated before April 1, 2030.
Sustainable Harnessing of Fisheries- To unlock the untapped potential of the marine sector and enabling framework for sustainable harnessing of fisheries from Indian Exclusive Economic Zone and High Seas. The special focus on the Andaman & Nicobar and Lakshadweep Islands.
8/15 Image Source : PIB INDIA
Sustainable Harnessing of Fisheries- To unlock the untapped potential of the marine sector and enabling framework for sustainable harnessing of fisheries from Indian Exclusive Economic Zone and High Seas. The special focus on the Andaman & Nicobar and Lakshadweep Islands.
Investing in People: Public Education and Health-50,000 Atal Tinkering Labs to be set up in Government schools in the next 5 years. Bharatiya Bhasha Pustak Scheme to be implemented to provide digital-form Indian language books for school and higher education.
9/15 Image Source : PIB INDIA
Investing in People: Public Education and Health-50,000 Atal Tinkering Labs to be set up in Government schools in the next 5 years. Bharatiya Bhasha Pustak Scheme to be implemented to provide digital-form Indian language books for school and higher education.
Investing in Street Vendors and Online and Urban Workers-Gig workers of online platforms to be provided with identity cards and registration on e-Shram portal. Scheme for socio-economic upliftment of urban workers to be implemented. PM SVANidhi scheme to be revamped with enhanced loans from banks, UPI linked credit cards with Rs. 30,000 limit, and capacity building support.
10/15 Image Source : PIB INDIA
Investing in Street Vendors and Online and Urban Workers-Gig workers of online platforms to be provided with identity cards and registration on e-Shram portal. Scheme for socio-economic upliftment of urban workers to be implemented. PM SVANidhi scheme to be revamped with enhanced loans from banks, UPI linked credit cards with Rs. 30,000 limit, and capacity building support.
National Mission on High Yielding Seeds will strengthen research ecosystem. For targeted development and propagation of high-yield seeds with pest resistance and climate resilience and to improve commercial availability of more than 100 seed varieties released since July 2024.
11/15 Image Source : PIB INDIA
National Mission on High Yielding Seeds will strengthen research ecosystem. For targeted development and propagation of high-yield seeds with pest resistance and climate resilience and to improve commercial availability of more than 100 seed varieties released since July 2024.
Union Budget 2025-26 focuses on GYAN, ensuring vikas and welfare of Garib, Youth, Annadata, and Nari.
12/15 Image Source : PIB INDIA
Union Budget 2025-26 focuses on GYAN, ensuring vikas and welfare of Garib, Youth, Annadata, and Nari.
Mission for Aatmanirbharta in Pulses: 6-year Mission with special focus on Tur, Urad and Masoor. The central agencies to procure as much of these 3 pulses as offered by farmers during next 4 years. Emphasis on climate-resilient seeds, protein content, productivity, post-harvest storage and remunerative prices to farmers.
13/15 Image Source : FINANCE MINISTRY
Mission for Aatmanirbharta in Pulses: 6-year Mission with special focus on Tur, Urad and Masoor. The central agencies to procure as much of these 3 pulses as offered by farmers during next 4 years. Emphasis on climate-resilient seeds, protein content, productivity, post-harvest storage and remunerative prices to farmers.
Union Budget 2025 aims to initiate transformative reforms across six domains. During the next five years, these will augment our growth potential and global competitiveness.
14/15 Image Source : PIB INDIA
Union Budget 2025 aims to initiate transformative reforms across six domains. During the next five years, these will augment our growth potential and global competitiveness.
National Manufacturing Mission to be set up and it will cover small, medium and large industries. It'll focus on ease and cost of doing business and future-ready workforce for in-demand jobs.
15/15 Image Source : PIB INDIA
National Manufacturing Mission to be set up and it will cover small, medium and large industries. It'll focus on ease and cost of doing business and future-ready workforce for in-demand jobs.
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