Indian Budget Transformation: Bold Step Towards Growth

Delhi - In a dramatic turn of economic policy, Finance Minister Nirmala Sitharaman unveiled the Union Budget 2025 with measures that are set to reshape the economic landscape. The most striking feature of the budget is the revision of income tax slabs. Individuals earning up to ₹12 Lakh will now enjoy complete tax exemption, a leap from the previous limit of ₹7 Lakh. For salaried individuals, the exemption limit now stands at ₹12.75 Lakh after accounting for a standard deduction of ₹75,000. This move is expected to inject increased disposable income into the economy and stimulate consumer demand across sectors.

The budget also outlines a restructured tax framework with rates beginning at 5% for incomes between ₹4 Lakh and ₹8 Lakh and scaling up to 30% for incomes exceeding ₹24 Lakh. Such reforms aim to simplify the tax system and reduce the compliance burden while providing a welcome relief to millions of taxpayers.

Beyond tax reforms, the government has introduced a suite of initiatives aimed at bolstering growth. A key highlight is the PM Dhan-Dhaanya Krishi Yojana, designed to support 17 million farmers across 100 low-productivity districts through enhanced subsidies and credit facilities. Additionally, the budget has set sights on boosting manufacturing and renewable energy by offering incentives to industries and liberalizing FDI in the insurance sector.