Indian Finance Minister Nirmala Sitharaman today (Saturday, Feb 1) presented the Union Budget for 2025-26, a day after unveiling the Economic Survey. Watch in for more details!

India Budget 2025: Big tax relief for middle class, new measures to boost spending

People's reaction to Union Budget 2025

Union Budget 2025: Boost for small business, mega fund for cities | WION detailed coverage

Union Budget 2025: 36 life-saving medicines fully exempted from custom duty | WION detailed coverage

Prime Minister Narendra Modi on Saturday (Feb 1) hailed the Union Budget 2025 as a crucial milestone in India's development journey, emphasising its focus on fulfilling the aspirations of 1.4 billion Indians. Watch in for more details!

'People's Budget': PM Modi hails budget, says it will boost savings, consumption

Budget 2025 highlights: Big tax relief for middle class, new measures to boost spending

Union Finance Minister Nirmala Sitharaman says, "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 simplified." Watch in for more details!

Budget 2025: Foreign direct investment in insurance hiked 74% to 100% | WION detailed coverage

Indian Finance Minister Nirmala Sitharaman today (Saturday, Feb 1) presented the Union Budget for 2025-26, a day after unveiling the Economic Survey.
Indian Finance Minister Nirmala Sitharaman on Saturday (Feb 1) announced a major relief for the middle class in India with a special tax exemption for salaried individuals. The new tax structure is designed to reduce taxes for middle-income earners, leaving more disposable income for household consumption, savings, and investment, which can help boost economic growth.

Budget 2025: Will India's budget drive growth? | WION detailed coverage

Income tax slabs Budget 2025: Zero income tax up to an income of Rs 12 lakh | WION detailed coverage

Under the new tax regime, the government has introduced significant changes to benefit taxpayers, especially the middle class. One of the key highlights is the introduction of a "nil tax" slab for income up to ₹12 lakh, meaning individuals with income up to this threshold will pay no income tax. For salaried taxpayers, this limit increases to ₹12.75 lakh due to a standard deduction of ₹75,000.

The revised slabs and rates aim to substantially reduce the tax burden for the middle class, leaving more money in their hands to encourage increased household consumption, savings, and investment. These changes are designed to provide substantial relief to taxpayers and support economic growth.

The government has proposed several changes to rationalise the Tax Deduction at Source (TDS) and Tax Collection at Source (TCS) provisions. The limit for tax deduction on interest income for senior citizens will be doubled from ₹50,000 to ₹1 lakh, providing them with greater tax relief.

Additionally, the annual limit for TDS on rent payments will be increased from ₹2.40 lakh to ₹6 lakh, easing the tax burden for individuals making rent payments.

Budget 2025: Annual Limit Of ₹ 2.4 Lakh For TDS On Rent Raised To ₹ 6 Lakh | WION Detailed Coverage

Sitharaman is presenting her record eighth consecutive Budget on Saturday (Feb 1). The Budget speech is expected to provide a comprehensive overview of the government's fiscal policies, revenue and expenditure proposals, and taxation reforms, along with other important announcements. 
Under the new tax regime, the government has introduced significant changes to benefit taxpayers, especially the middle class. One of the key highlights is the introduction of a "nil tax" slab for income up to ₹12 lakh, meaning individuals with income up to this threshold will pay no income tax. For salaried taxpayers, this limit increases to ₹12.75 lakh due to a standard deduction of ₹75,000.

Budget 2025: Tax announcement receives resounding claps from lawmakers | WION detailed coverage

Under the new tax regime, the government has introduced significant changes to benefit taxpayers, especially the middle class. One of the key highlights is the introduction of a "nil tax" slab for income up to ₹12 lakh, meaning individuals with income up to this threshold will pay no income tax. For salaried taxpayers, this limit increases to ₹12.75 lakh due to a standard deduction of ₹75,000.

The revised slabs and rates aim to substantially reduce the tax burden for the middle class, leaving more money in their hands to encourage increased household consumption, savings, and investment. These changes are designed to provide substantial relief to taxpayers and support economic growth.

Budget 2025: Salaried class gets a big spending boost | WION detailed coverage

Author

Zee News Rajasthan

Editor

Wion Video Team

Home

Live Tv

Latest

World

India

Business

Entertainment

Sports

Opinions

Videos

Photos

Gravitas

Lifestyle

Science

Tech

Rajasthan News in Hindi: In-depth coverage of Rajasthan Crime, Political News, Education, Rajasthan Weather Update and Latest Rajasthan News on Zee News Rajasthan.

Rajasthan News in Hindi: राजस्थान समाचार, राजस्थान न्यूज़, Rajasthan Political, Crime, Education News - ZEE Rajasthan News