Union Budget 2025- Highlights by BazaarX.co

01-02-2025:07:55:pm

Union Budget 2025 -Highlights by BazaarX.CO 

The Union Budget for the fiscal year 2025-26, presented by Finance Minister Nirmala Sitharaman on February 1, 2025, sets the stage for sustainable development and economic rejuvenation. Marking her eighth consecutive presentation, this budget underscores strategic reforms across various sectors, ensuring inclusive growth and fiscal responsibility.

Key Highlights of Union Budget 2025

Economic & Infrastructure Growth

• Kisan Credit Card (KCC): Loan limit increased from ₹3 lakh to ₹5 lakh, empowering farmers, fishermen, and dairy farmers.
• Urban Challenge Fund: A ₹1 lakh crore initiative to boost city infrastructure and innovation, funded through municipal bonds and public-private partnerships.
• Jal Jeevan Mission: Extended until 2028 to improve water accessibility and sanitation.
• Greenfield Airports: New airports planned in Bihar, alongside expansion of Patna Airport.
• R&D Investment: ₹20,000 crore allocated to encourage private-sector research and innovation.

Education & Healthcare

Education:

• Expansion of IIT infrastructure, including IIT Patna, accommodating 6,500 additional students.
• 50,000 Atal Tinkering Labs in government schools to foster STEM learning.
• Bharatiya Bhasha Pustak Scheme for digital books in Indian languages.

Healthcare:

• Addition of 10,000 medical seats next year, with a target of 75,000 in five years.
• Daycare cancer centers in district hospitals for specialized care.
• Social security measures for gig workers, including identity cards and healthcare under PM Jan Arogya Yojana.

Business & Investment

• Social Welfare Scheme introduced for gig workers to ensure identity, registration, and healthcare benefits.
• FDI limit for the insurance sector increased to 100%, provided premiums remain invested within India.

Tourism & Industry

• Development of the top 50 tourist destinations, with an emphasis on Buddhist sites.
• Duty exemptions on 36 life-saving drugs, promoting better healthcare access.

Direct & Indirect Tax Reforms

Under the Revised Income Tax Slabs for the New Tax Regime, the tax rates are as follows:

• For an annual income of ₹0–4,00,000, the tax rate is Nil.
• For ₹4,00,001–8,00,000, the tax rate is 5%.
• For ₹8,00,001–12,00,000, the tax rate is 10%.
• For ₹12,00,001–16,00,000, the tax rate is 15%.
• For ₹16,00,001–20,00,000, the tax rate is 20%.
• For ₹20,00,001–24,00,000, the tax rate is 25%.
• For income above ₹24,00,000, the tax rate is 30%.

Under the Old Tax Regime, the tax rates are as follows:

• For an annual income of ₹0–2,50,000, the tax rate is Nil.
• For ₹2,50,001–5,00,000, the tax rate is 5%.
• For ₹5,00,001–10,00,000, the tax rate is 20%.
• For income above ₹10,00,000, the tax rate is 30%.

Additional Reforms:

• TDS on rent threshold increased from ₹2.4 lakh to ₹6 lakh.
• TDS limit for senior citizens raised from ₹50,000 to ₹1 lakh.
• TCS exemptions for education-related remittances.

How BazaarX.CO Aligns with Budget 2025

The vision of Union Budget 2025 resonates strongly with the goals of BazaarX.CO, a platform providing over 350+ services in IT, Legal, HR, Finance, Marketing, Real Estate, and Home Care. As a DPIIT-registered marketplace, we enable seamless access to:

• Affordable Services: Delivering efficient solutions aligned with tax reforms to enhance disposable income and affordability.
• Real Estate Solutions: Offering 1,000+ properties for sale in prime locations across India, supporting urban development goals.
• Financial Growth: Facilitating loans from 50+ banks to empower individuals and businesses.

? Explore more at www.bazaarx.co or call us at +91-7678663518.