Union Budget 2025 HIGHLIGHTS: No income tax till Rs 12 Lakh income under New Tax Regime

LIVE BLOG

• 01 Feb 2025, 12:21 PM

  Union Budget 2025 LIVE Updates:​ Zero Income Tax till Rs 12 Lakh Income under New Tax Regime

  • Slabs and rates are being changed across the board to benefit all tax-payers
  • New structure to substantially reduce taxes of middle class and leave more money in their hands, boosting household consumption, savings and investment
  • ‘Nil tax’ slab up to Rs 12.00 lakh (Rs 12.75 lakh for salaried tax payers with standard deduction of Rs 75,000)

  • February 1, 2025

  
• 01 Feb 2025, 12:01 PM

  Union Budget 2025 LIVE Updates: FM proposes ID cards for gig workers, UPI-linked credit cards for street vendors

  Finance Minister Nirmala Sitharaman, in her Budget speech today, announced that her government will provide ID cards to gig workers. Gig worker will also be provided access to healthcare via a social security scheme. She said her government will invest 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. PM SVANidhi scheme to be revamped with enhanced loans from banks, UPI linked credit cards with Rs 30,000 limit, and capacity building support would be ensured.

  
• 01 Feb 2025, 11:34 AM

  FM Sitharaman proposes Makhana Board in Bihar

  Finance Minister Nirmala Sitharaman, in her Budget speech today, proposed to form a Makhana Board in the state of Bihar. Makhana or foxnuts, a nutritious food, is widely produced and consumed in Bihar. Under One District One Product scheme, Makhana producers have benefited hugely. The Makhana Research Center has been given the status of a national institution, with Makhanas having also received a GI tag. In her initial remark today, Sitharaman said her government's focus would be on Garib, Youth, Annadata and Nari.

  
• 01 Feb 2025, 11:19 AM

  ‘Garib, youth, annadata, nari’ among 10 focus areas, says FM Sitharaman

  The proposed development measures in Budget 2025 span 10 focus areas on Garib, Youth, Annadata and Nari, said Finance Minister Nirmala Sitharaman.

  
• 01 Feb 2025, 10:51 AM

  Budget 2025-26 LIVE: Union Cabinet approves the Union Budget 2025-26

  The Union Cabinet, chaired by Prime Minister Narendra Modi on Saturday ascended the Budget for the year 2025 ahead of its presentation in the Parliament.  

  
• 01 Feb 2025, 10:50 AM

  Budget 2025 Speech LIVE Updates: President Murmu offers 'dahi-cheeni' to FM Sitharaman before presenting Budget 2025

  President Droupadi Murmu on Saturday offered 'dahi-cheeni' (curd and sugar), as it is considered auspicious, to Union Finance Minister Nirmala Sitharaman ahead of presenting her eighth Union Budget. This customary gesture for good luck was done during the Finance Minister's visit to President Murmu at Rashtrapti Bhavan. Minister of State for Finance Pankaj Chaudhary was also present on the occasion. The Finance Minister was seen discussing the contours of the Budget proposals with the President. 

  
• 01 Feb 2025, 09:54 AM

  Union Budget 2025 Today LIVE Updates: Copies of Union Budget brought to Parliament

  Copies of Union Budget 2025 are brought to parliament as Union Finance Minister Nirmala Sitharaman will today table her 8th Union Budget, for the fiscal year 2025-26, in Lok Sabha

  February 1, 2025

  
• 01 Feb 2025, 09:50 AM

  Budget 2025 Speech LIVE: Red Tablet-Bahi Khata in hand, FM Sitharaman leaves North Block for Rashtrapati Bhavan

  Union Finance Minister Nirmala Sitharaman on Saturday leaves from North Block for Rashtrapati Bhavan carrying her trademark 'bahi-khata', a tablet wrapped in a red-coloured cloth with a golden-coloured national emblem embossed on it.Sitharaman is set to present her record 8th consecutive budget today at 11 am in the Lok Sabha. The budget speech will outline the government's fiscal policies, revenue and expenditure proposals, taxation reforms, and other significant announcements.

  
• 01 Feb 2025, 09:17 AM

  Union Budget 2025 Today LIVE Updates:

   FM Nirmala Sitharaman arrives at North Block 

  Union Finance Minister Nirmala Sitharaman on Saturday arrived at the North Block, which houses the Ministry of Finance, ahead of the presentation of the Union Budget 2025. Nirmala Sitharaman is set to present her record 8th consecutive budget today at 11 am in the Lok Sabha. The budget speech will outline the government's fiscal policies, revenue and expenditure proposals, taxation reforms, and other significant announcements. Meanwhile, the Economic Survey tabled in Parliament on Friday projected India's economy to grow between 6.3 per cent and 6.8 per cent in the next financial year 2025-26. The survey, tabled a day before the union budget, highlights that the country's economic fundamentals remain strong, supported by a stable external account, fiscal consolidation, and private consumption. It noted that the government plans to strengthen long-term industrial growth by focusing on research and development (R&D), micro, small, and medium enterprises (MSMEs), and capital goods.

  
• 01 Feb 2025, 08:43 AM

  Budget 2025 LIVE Updates: Chief economic advisor reaches finance ministry

  Union Minister of State for Finance, Pankaj Chaudhary on Saturday arrived at the North Block, which houses the Ministry of Finance, ahead of the presentation of the Union Budget.Speaking to the media, MoS Chaudhary said, "Everything will be before you by 12 pm. Have some patience. You will get to know everything." Union Finance Minister Nirmala Sitharaman is set to present her record 8th consecutive budget today at 11 am in the Lok Sabha. The budget speech will outline the government's fiscal policies, revenue and expenditure proposals, taxation reforms, and other significant announcements.

  February 1, 2025

  
• 01 Feb 2025, 07:52 AM

  Budget 2025-26 LIVE: Siddaramaiah demands ‘just and proportional’ resource distribution from Centre 

  Karnataka Chief Minister Siddaramaiah on Friday urged the Centre to recognise the state’s contribution and ensure ‘just and proportional’ resource distribution.

  Stating that Karnataka has already submitted its list of demands to the Centre, Siddaramaiah said, “The discriminatory approach of the Union government towards Karnataka is well known. For our federal system to remain strong, the Centre must adopt a fair, transparent, and unbiased policy towards all states.” “Instead of treating states merely as revenue-generating units, the Centre must respond to their financial challenges with fairness and empathy. When it comes to resource allocation, including tax devolution, the Centre must follow scientific and equitable standards,” he said in a statement.

  
• 01 Feb 2025, 07:03 AM

  Budget 2025-26 LIVE: India to grow 6.3-6.8% in 2025-26, projects Economic Survey

  India's economy is projected to grow between 6.3 per cent and 6.8 per cent in the next financial year 2025-26, said Economic Survey 2024-25, tabled in Parliament on Friday. The survey, tabled a day before the union budget, highlights that the country's economic fundamentals remain strong, supported by a stable external account, fiscal consolidation, and private consumption.It noted that the government plans to strengthen long-term industrial growth by focusing on research and development (R&D), micro, small, and medium enterprises (MSMEs), and capital goods. These measures aim to enhance productivity, innovation, and global competitiveness. (ANI)

  
• 01 Feb 2025, 06:50 AM

  PM Modi shares Key insights from Economic Survey

  Prime Minister Narendra Modi has shared some of the 'interesting data points' from the Economic Survey 2024-25, that was tabled in the Parliament on Friday. In a thread on X, Narendra Modi's personal website and the Narendra Modi Mobile App official handle shared how India's non-fossil fuel power generation has leapfrogged, the rise in services exports, record private spending, credit surge for small farmers, expanded highway network, enhanced rural power supply availability, among others. Explaining each point through infographic, the prime minister painted a picture on how the country's total non-fossil fuel power generation (in thousand-gigawatt hours).