In a major push to strengthen the Micro, Small, and Medium Enterprises (MSME) sector, the Union Finance Minister in budget 2025 announced an increase in investment and turnover limits for classification of MSMEs.
Finance Minister Nirmala Sitharaman, during her Union Budget 2025 speech, announced that no income tax will be payable on income up to Rs 12 lakh, providing significant relief to taxpayers especially the middle class.
She said, "Modified UDAN scheme will be launched to enhance regional connectivity to 120 new destinations and carry 4 crore additional passengers in the next 10 years."
Ahead of the Finance Minister's speech, protests erupted within the house, demanding the government release the list of people who lost their lives in the recent Mahakumbh stampede.
Congress leader Jairam Ramesh on Saturday took a swipe at the BJP-led government over the Civil Liability for Nuclear Damage Act, 2010, alleging that the party had earlier "sabotaged" the law and is now planning to amend it to "appease" former US President Donald Trump.
"The FDI limit for the insurance sector will be raised from 74 to 100 per cent. This enhanced limit will be available for those companies which invest the entire premium in India. The current guardrails and conditionalities associated with foreign investment will be reviewed and simplifie
In a major step towards clean energy transition, Finance Minister Nirmala Sitharaman announced a Nuclear Energy Mission during the presentation of the Union Budget 2025.
She said, "Kisaan Credit cards facilitate short-term loans for 7.7 crore farmers, fisherman and dairy farmers. The loan limit under the modified Interest subvention schemes will be enhanced from Rs 3 lakh to Rs 5 lakh for loans taken through KCC."
Presenting the Union Budget, Finance Minister Nirmala Sitharaman on Saturday pegged the fiscal deficit target at 4.4 per cent of GDP for the financial year 2025-26.
Reacting to Congress MP Manish Tewari's remarks that Budget is "as useless a ritual as the President address", BJP MP Deepak Prakash accused the Congress leaders of being mentally bankrupt and called the budget the "symbol of the aspirations of 140 crore Indians."
Addressing the Lok Sabha on Union Budget 2025, Sitharaman said, "Our economy is the fastest growing among all major economies. Our development track record for the past 10 years and structural reforms have drawn global attention. Confidence in India's capability and potential has only gro