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!

Budget 2025: Reactions from leaders to FM Sitharaman's speech

India&rsquo;s Union Finance Minister Nirmala Sitharaman on Saturday (Feb 1) presented the budget for the financial year 2025-26 as the nation gears up to put its footprint on the global stage. Sports has been a key contributor to India&rsquo;s global image, and the sector was certainly not disappointed after funds were increased to INR 10 billion ($115 million) for 2025-26, up from INR 8 billion ($92 million) in 2024-25. Speaking exclusively to WION&rsquo;s Aditya Pimpale, Sports for All founder, Rishikesh Joshi, reckoned the funds are promising for grassroots athletes.&nbsp;<o:p></o:p>
<h2 class="MsoNormal" style="text-align: justify;">Expert thoughts on sports budget<o:p></o:p></h2>
India had a successful Paris Olympics in 2024, where they won six medals, including a silver. Indian athletes have made the nation proud in several national and international tournaments. Saturday&rsquo;s budget comes as a welcome addition to India&rsquo;s growing sports power as the nation tried to challenge several global powers.&nbsp;<o:p></o:p>
&ldquo;The sports budget has seen an overall 10% increase. The standout for me is that Khelo India continues to be a cornerstone for developing grassroots sports across India. The INR 10 billion ($115 million) allocated this year, marking an 11% increase, is certainly promising for grassroots athletes and is already yielding results, as seen in India&rsquo;s recent clean sweep at the Kho-Kho World Cup. This highlights the tangible impact of increased funding at the grassroots level,&rdquo; Joshi said in the exclusive conversation.&nbsp;<o:p></o:p>
&ldquo;Given India&rsquo;s performance, it&rsquo;s essential to also consider boosting funding for elite athletes and national-level competitions. Strengthening the budget for these events would help sustain and enhance India&rsquo;s performance on the global stage,&rdquo; added Joshi.<o:p></o:p>
WION also spoke to Sreekar Channapragada, co-founder of MGD1, as he reckons the current budget needs to be boosted by 10 times if India are to win more medals and be competitive against global powers.<o:p></o:p>
ALSO READ | <a href="https://www.wionews.com/cricket/virat-kohlis-craze-hits-ranji-trophy-as-fans-breach-security-to-touch-his-feet-watch-8680817" rel="dofollow noopener" target="_blank">Kohli-mania hits Ranji Trophy as fans breach security to touch his feet &ndash; Watch</a> 
&ldquo;Sports budget is in the right direction, but a lot more is needed. If we&rsquo;re looking to win international medals and strive for excellence, then the budgets need to be more than 10 times what it is now. Sports not only bring laurels to the nation and bring in a culture of fitness, but they also generate employment for the youth. We need to use the budgets to create excellence centres where potentials are worked with to create world-class athletes,&rdquo; said Channapragada.

Sports: Sports has been a key contributor to India’s global image, and the sector was certainly not disappointed after funds were increased to INR 10 billion ($115 million) for 2025-26.

India’s Union Finance Minister Nirmala Sitharaman on Saturday (Feb 1) presented the budget for the financial year 2025-26 as the nation gears up to put its footprint on the global stage. Sports has been a key contributor to India’s global image, and the sector was certainly not disappointed after funds were increased to INR 10 billion ($115 million) for 2025-26, up from INR 8 billion ($92 million) in 2024-25. Speaking exclusively to WION’s Aditya Pimpale, Sports for All founder, Rishikesh Joshi, reckoned the funds are promising for grassroots athletes. Expert thoughts on sports budget India had a successful Paris Olympics in 2024, where they won six medals, including a silver. Indian athletes have made the nation proud in several national and international tournaments. Saturday’s budget comes as a welcome addition to India’s growing sports power as the nation tried to challenge several global powers. “The sports budget has seen an overall 10% increase. The standout for me is that Khelo India continues to be a cornerstone for developing grassroots sports across India. The INR 10 billion ($115 million) allocated this year, marking an 11% increase, is certainly promising for grassroots athletes and is already yielding results, as seen in India’s recent clean sweep at the Kho-Kho World Cup. This highlights the tangible impact of increased funding at the grassroots level,” Joshi said in the exclusive conversation. “Given India’s performance, it’s essential to also consider boosting funding for elite athletes and national-level competitions. Strengthening the budget for these events would help sustain and enhance India’s performance on the global stage,” added Joshi. WION also spoke to Sreekar Channapragada, co-founder of MGD1, as he reckons the current budget needs to be boosted by 10 times if India are to win more medals and be competitive against global powers. ALSO READ | Kohli-mania hits Ranji Trophy as fans breach security to touch his feet – Watch “Sports budget is in the right direction, but a lot more is needed. If we’re looking to win international medals and strive for excellence, then the budgets need to be more than 10 times what it is now. Sports not only bring laurels to the nation and bring in a culture of fitness, but they also generate employment for the youth. We need to use the budgets to create excellence centres where potentials are worked with to create world-class athletes,” said Channapragada.

Exclusive: 'Sports budget is promising for grassroots athletes,' says Sports For All founder Rishikesh Joshi

The Congress party has denounced the Centre over the Union Budget 2025 accusing the ruling BJP of timing the budget for its electoral gains ahead of Delhi assembly polls.
The grand old party further said the budget failed to address the economy's major pain points, including stagnant real wages, lack of buoyancy in mass consumption, sluggish rates of private investment, and a complicated GST system.
Congress general secretary in-charge communications Jairam Ramesh said, "The economy is suffering from four related crises -- stagnant real wages, lack of buoyancy in mass consumption, sluggish rates of private investment, complex and complicated GST system."
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-m6m4g77g-9yfxoeqz-3e4msu8q">
The economy is suffering from four related crises - i. Stagnant real wages ii. Lack of buoyancy in mass consumption iii. Sluggish rates of private investment iv. A complex and complicated GST system The Budget does NOTHING to address these illnesses. The only relief has been&hellip;
&mdash; Jairam Ramesh (@Jairam_Ramesh) <a href="https://twitter.com/Jairam_Ramesh/status/1885593207104573931?ref_src=twsrc%5Etfw">February 1, 2025</a></blockquote>
"The Budget does nothing to address these illnesses. The only relief has been for income tax payers. What actual impact this will have on the economy remains to be seen," he wrote on X.
He further took a swipe at the Narendra Modi government stating that even though Finance Minister Nirmala Sitharaman spoke about four engines of development, the Budget was "completely derailed".
"The FM spoke of four engines: Agriculture, MSMEs, Investment, and Exports. So many engines that the Budget has been completely derailed," said Ramesh.
<h2>'Bihar got bonanza, Andhra cruelly ignored'&nbsp;</h2>
He further said that while the state of Bihar appeared to have received a bonanza in the budget Andhra Pradesh was "cruelly ignored".
"Bihar appears to have got a bonanza of announcements. It is natural since elections are due there later in the year. But why has the other pillar of the NDA, namely Andhra Pradesh, been so cruelly ignored?" he wrote in a post on social media.
It is pertinent to mention that Andhra Pradesh's ruling Telugu Desam Party is a key ally in the National Democratic Alliance at the Centre.
<h2>&lsquo;To benefit from income tax relief, you need a job,&rsquo; says Shashi Tharoor&nbsp;</h2>
Congress MP Shashi Tharoor took a dig at the Centre over the budget, stating that to avail the benefit from tax exemption, one needs to be employed.
"I think, frankly, the applause you heard from the BJP benches was for the middle-class tax cut. We look at the details and that may be a good thing. So if you have a salary, you may be paying less tax. But the important question is, what happens if we don't have a salary?" Tharoor questioned.
"Where is the income going to come from? For you to benefit from income tax relief, you actually need jobs. Unemployment was not mentioned by the Finance Minister. Ironic that the party that wants one nation, one election is actually using each election in each state each year to give them more freebies. They may as well have multiple elections so they can get more applause from their allies," the Congress MP added.
<a href="https://www.wionews.com/india-news/union-budget-2025-fm-sitharaman-exempts-basic-custom-duty-on-lifesaving-drugs-and-medicines-8680995">Also read: Union Budget 2025: 36 life saving drugs, medicines fully exempted from custom duty</a>
<h2>TMC MP Shatrughan Sinha calls budget a mere 'election-year lollipop'</h2>
TMC MP Shatrughan Sinha took a jibe at the Centre, calling the budget a mere "election-year lollipop".
"Bihar is my strength and I felt good about the provisions to Bihar, but it is also a time of elections, so was this an electoral budget taking Bihar on forefront?... Infrastructural development in Bihar is good, but is this enough? What happened to the big special packages mentioned earlier?... This budget, kept in view of Bihar, seems like a lollipop... Now about the salaried class, the exemption should have been 15 lakhs instead of 12 lakhs, but still, we appreciate it... A lot of things still need to be studied," said Sinha.&nbsp;
<h2>Modi hails budget</h2>
Meanwhile, 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.
PM Modi envisions the common citizen driving the mission of Viksit Bharat, a testament to the government's commitment to inclusive growth and development.
"Today is an important milestone in India's development journey. This is the budget of aspirations of 140 crore Indians. This is a budget that fulfils the dreams of every Indian. We have opened many sectors for the youth. The common citizen is going to drive the mission of Viksit Bharat," he said.
(With inputs from agencies)

India news: 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.

The Congress party has denounced the Centre over the Union Budget 2025 accusing the ruling BJP of timing the budget for its electoral gains ahead of Delhi assembly polls. The grand old party further said the budget failed to address the economy's major pain points, including stagnant real wages, lack of buoyancy in mass consumption, sluggish rates of private investment, and a complicated GST system. Congress general secretary in-charge communications Jairam Ramesh said, "The economy is suffering from four related crises -- stagnant real wages, lack of buoyancy in mass consumption, sluggish rates of private investment, complex and complicated GST system." The economy is suffering from four related crises - i. Stagnant real wages ii. Lack of buoyancy in mass consumption iii. Sluggish rates of private investment iv. A complex and complicated GST system The Budget does NOTHING to address these illnesses. The only relief has been… — Jairam Ramesh (@Jairam_Ramesh) February 1, 2025 "The Budget does nothing to address these illnesses. The only relief has been for income tax payers. What actual impact this will have on the economy remains to be seen," he wrote on X. He further took a swipe at the Narendra Modi government stating that even though Finance Minister Nirmala Sitharaman spoke about four engines of development, the Budget was "completely derailed". "The FM spoke of four engines: Agriculture, MSMEs, Investment, and Exports. So many engines that the Budget has been completely derailed," said Ramesh. 'Bihar got bonanza, Andhra cruelly ignored' He further said that while the state of Bihar appeared to have received a bonanza in the budget Andhra Pradesh was "cruelly ignored". "Bihar appears to have got a bonanza of announcements. It is natural since elections are due there later in the year. But why has the other pillar of the NDA, namely Andhra Pradesh, been so cruelly ignored?" he wrote in a post on social media. It is pertinent to mention that Andhra Pradesh's ruling Telugu Desam Party is a key ally in the National Democratic Alliance at the Centre. ‘To benefit from income tax relief, you need a job,’ says Shashi Tharoor Congress MP Shashi Tharoor took a dig at the Centre over the budget, stating that to avail the benefit from tax exemption, one needs to be employed. "I think, frankly, the applause you heard from the BJP benches was for the middle-class tax cut. We look at the details and that may be a good thing. So if you have a salary, you may be paying less tax. But the important question is, what happens if we don't have a salary?" Tharoor questioned. "Where is the income going to come from? For you to benefit from income tax relief, you actually need jobs. Unemployment was not mentioned by the Finance Minister. Ironic that the party that wants one nation, one election is actually using each election in each state each year to give them more freebies. They may as well have multiple elections so they can get more applause from their allies," the Congress MP added. Also read: Union Budget 2025: 36 life saving drugs, medicines fully exempted from custom duty TMC MP Shatrughan Sinha calls budget a mere 'election-year lollipop' TMC MP Shatrughan Sinha took a jibe at the Centre, calling the budget a mere "election-year lollipop". "Bihar is my strength and I felt good about the provisions to Bihar, but it is also a time of elections, so was this an electoral budget taking Bihar on forefront?... Infrastructural development in Bihar is good, but is this enough? What happened to the big special packages mentioned earlier?... This budget, kept in view of Bihar, seems like a lollipop... Now about the salaried class, the exemption should have been 15 lakhs instead of 12 lakhs, but still, we appreciate it... A lot of things still need to be studied," said Sinha. Modi hails budget Meanwhile, 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. PM Modi envisions the common citizen driving the mission of Viksit Bharat, a testament to the government's commitment to inclusive growth and development. "Today is an important milestone in India's development journey. This is the budget of aspirations of 140 crore Indians. This is a budget that fulfils the dreams of every Indian. We have opened many sectors for the youth. The common citizen is going to drive the mission of Viksit Bharat," he said. (With inputs from agencies)

Opposition's rejection, Modi's applause: Union Budget 2025 evokes mixed reactions

Revised income tax slabs, old regime vs new regime? Here's the catch!

People's reaction to Union Budget 2025

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

India's Finance Minister Nirmala Sitharaman, in her record eighth consecutive Budget speech on Saturday (Feb 1), announced that 36 lifesaving drugs and medicines, particularly for patients suffering from cancer, chronic or other severe diseases, will be fully exempted from basic customs duty.
She further announced that 37 more medicines and 13 new patient assistance programmes will be fully exempted from Basic Customs Duty, where they are supplied free of cost to patients.
Additionally, six more lifesaving medicines will be added to the concessional duty list, attracting a reduced customs duty of 5 per cent.&nbsp;
"Specified drugs and medicines under Patient Assistance Programmes run by pharmaceutical companies are fully exempt from BCD, provided the medicines are supplied free of cost to patients," Sitharaman said.
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-m6m0225h-w0a7vh3d-xcwp40b4">
<a href="https://twitter.com/hashtag/UnionBudget2025?src=hash&amp;ref_src=twsrc%5Etfw">#UnionBudget2025</a> | Finance Minister Nirmala Sitharaman says, "Those suffering from Cancer, chronic or other severe diseases; I propose to add 36 life-saving drugs and medicines to the list of medicines fully exempted from basic customs duty." <a href="https://t.co/YBjfk1BPKV">pic.twitter.com/YBjfk1BPKV</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/1885577575776608483?ref_src=twsrc%5Etfw">February 1, 2025</a></blockquote>
"I also propose to add six lifesaving medicines to the list attracting concessional customs duty of 5 per cent. Full exemption and concessional duty will also respectively apply on the bulk drugs for manufacture of the above," she added.
<a href="https://www.wionews.com/india-news/union-budget-2025-fm-sitharaman-vows-to-implement-reforms-across-six-vital-domains-8680302">Also read: Union Budget 2025: FM Sitharaman vows reforms across six vital domains, from taxes to regulations</a>
<h2>Govt to set up daycare cancer centres in district hospitals</h2>
Sitharaman announced 10,000 additional seats in medical colleges as well as daycare cancer centres in all district hospitals.
She highlighted that the country has witnessed remarkable growth in medical education over the last decade.
"10,000 additional seats to be added in medical colleges next year and 75,000 seats to be added in the next five years," she said.
&ldquo;All district hospitals to have daycare cancer centres. About 200 daycare cancer centres will be established in 2025-26," the FM said.
Further, "broadband connectivity to primary health centres will help in expanding telemedicine consultation for rural patients at village level", she added.
Over the last decade, the number of medical colleges has doubled from 387 in 2013-14 to 780 in 2024-25, marking a 102% increase.&nbsp;
During the same period, there was also a substantial increase in MBBS seats, which have gone up by 130% from 51,348 to 1,18,137.
(With inputs from agencies)

India News | Business & Economy: Six more lifesaving medicines will be added to the concessional duty list, attracting a reduced customs duty of 5 per cent. Besides, 37 more medicines and 13 new patient assistance programmes will be fully exempt.

India's Finance Minister Nirmala Sitharaman, in her record eighth consecutive Budget speech on Saturday (Feb 1), announced that 36 lifesaving drugs and medicines, particularly for patients suffering from cancer, chronic or other severe diseases, will be fully exempted from basic customs duty. She further announced that 37 more medicines and 13 new patient assistance programmes will be fully exempted from Basic Customs Duty, where they are supplied free of cost to patients. Additionally, six more lifesaving medicines will be added to the concessional duty list, attracting a reduced customs duty of 5 per cent. "Specified drugs and medicines under Patient Assistance Programmes run by pharmaceutical companies are fully exempt from BCD, provided the medicines are supplied free of cost to patients," Sitharaman said. #UnionBudget2025 | Finance Minister Nirmala Sitharaman says, "Those suffering from Cancer, chronic or other severe diseases; I propose to add 36 life-saving drugs and medicines to the list of medicines fully exempted from basic customs duty." pic.twitter.com/YBjfk1BPKV — ANI (@ANI) February 1, 2025 "I also propose to add six lifesaving medicines to the list attracting concessional customs duty of 5 per cent. Full exemption and concessional duty will also respectively apply on the bulk drugs for manufacture of the above," she added. Also read: Union Budget 2025: FM Sitharaman vows reforms across six vital domains, from taxes to regulations Govt to set up daycare cancer centres in district hospitals Sitharaman announced 10,000 additional seats in medical colleges as well as daycare cancer centres in all district hospitals. She highlighted that the country has witnessed remarkable growth in medical education over the last decade. "10,000 additional seats to be added in medical colleges next year and 75,000 seats to be added in the next five years," she said. “All district hospitals to have daycare cancer centres. About 200 daycare cancer centres will be established in 2025-26," the FM said. Further, "broadband connectivity to primary health centres will help in expanding telemedicine consultation for rural patients at village level", she added. Over the last decade, the number of medical colleges has doubled from 387 in 2013-14 to 780 in 2024-25, marking a 102% increase. During the same period, there was also a substantial increase in MBBS seats, which have gone up by 130% from 51,348 to 1,18,137. (With inputs from agencies)

Union Budget 2025: 36 life saving drugs, medicines fully exempted from custom duty

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

Finance Minister Nirmala Sitharaman on Saturday ( Feb 1) announced in the Union Budget 2025 that a new Centre of Excellence for Artificial Intelligence (AI) in education will be set up with an outlay of $ 57,671,997 (Rs 500 crore).&nbsp;
She recalled that three AI centres for agriculture, health, and sustainable cities were announced in 2023 and said this new centre will further strengthen AI-driven advancements in education. &nbsp;
&ldquo;I had announced three Centres of Excellence in Artificial Intelligence for agriculture, health, and sustainable cities in 2023. Now a Centre of Excellence in Artificial Intelligence for education will be set up with a total outlay of Rs 500 crore,&rdquo; Sitharaman said.
Also Read | <a href="https://www.wionews.com/india-news/union-budget-2025-fm-sitharaman-proposes-id-cards-for-gig-workers-upi-linked-credit-cards-for-street-vendors-8680706">Union Budget 2025: FM Sitharaman proposes ID cards for gig workers, UPI-linked credit cards for street vendors</a>
<h2>Impact of AI on the workforce &nbsp;</h2>
The Economic Survey 2024-25, released a day ahead of the Budget, raised concerns about the vulnerability of India's workforce to low-skill and low-value-added services due to AI advancements. It recommended establishing "stewarding institutions" that would function across sectors, stay updated on AI developments, and help transition workers to medium- and high-skilled jobs. These institutions would be responsible for ensuring public welfare while fostering innovation.
<h2>Support for domestic manufacturing &nbsp;</h2>
The government will also support domestic manufacturing capacity, identifying key sectors based on objective criteria. Sitharaman highlighted the vast opportunities in Industry 4.0, which require high skills and talent, making it crucial to equip the workforce accordingly.&nbsp;
Also Read | <a href="https://www.wionews.com/india-news/india-budget-2025-zero-income-tax-till-12-lakh-income-under-new-tax-regime-announces-fm-nirmala-sitharaman-8680411">India Budget 2025: Zero Income Tax till ₹12 lakh income under new tax regime, announces FM Nirmala Sitharaman</a>
<h2>National centres of excellence for skilling &nbsp;</h2>
The Union Budget also proposed setting up five National Centres of Excellence for Skilling. These centres will be developed with global partnerships to support Make for India and Make for the World manufacturing. The initiative will focus on curriculum design, training of trainers, a skill certification framework, and regular assessments to ensure industry-relevant expertise for youth.&nbsp;
(With inputs from agencies)

India News | Business & Economy | The FM recalled that three AI centres for agriculture, health, and sustainable cities were announced in 2023 and said this new centre will strengthen AI-driven advancements in education. 

Finance Minister Nirmala Sitharaman on Saturday ( Feb 1) announced in the Union Budget 2025 that a new Centre of Excellence for Artificial Intelligence (AI) in education will be set up with an outlay of $ 57,671,997 (Rs 500 crore). She recalled that three AI centres for agriculture, health, and sustainable cities were announced in 2023 and said this new centre will further strengthen AI-driven advancements in education. “I had announced three Centres of Excellence in Artificial Intelligence for agriculture, health, and sustainable cities in 2023. Now a Centre of Excellence in Artificial Intelligence for education will be set up with a total outlay of Rs 500 crore,” Sitharaman said. Also Read | Union Budget 2025: FM Sitharaman proposes ID cards for gig workers, UPI-linked credit cards for street vendors Impact of AI on the workforce The Economic Survey 2024-25, released a day ahead of the Budget, raised concerns about the vulnerability of India's workforce to low-skill and low-value-added services due to AI advancements. It recommended establishing "stewarding institutions" that would function across sectors, stay updated on AI developments, and help transition workers to medium- and high-skilled jobs. These institutions would be responsible for ensuring public welfare while fostering innovation. Support for domestic manufacturing The government will also support domestic manufacturing capacity, identifying key sectors based on objective criteria. Sitharaman highlighted the vast opportunities in Industry 4.0, which require high skills and talent, making it crucial to equip the workforce accordingly. Also Read | India Budget 2025: Zero Income Tax till ₹12 lakh income under new tax regime, announces FM Nirmala Sitharaman National centres of excellence for skilling The Union Budget also proposed setting up five National Centres of Excellence for Skilling. These centres will be developed with global partnerships to support Make for India and Make for the World manufacturing. The initiative will focus on curriculum design, training of trainers, a skill certification framework, and regular assessments to ensure industry-relevant expertise for youth. (With inputs from agencies)

India Budget 2025: FM Sitharaman announces AI centre for education, allocates $ 57.6mn

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

Finance Minister Nirmala Sitharaman announced a significant development for gig workers in her record eighth consecutive Budget speech on Saturday (Feb 1).
The government will now give ID cards to gig workers and they will be provided with access to healthcare benefits through a comprehensive social security scheme.
She said that the government will support various worker groups, including street vendors, and online and urban workers.&nbsp;
Identity cards will be provided to gig workers of online platforms and their registration will be done via the e-Shram portal.&nbsp;
The finance minister announced that the PM SVANidhi scheme will be reworked with enhanced loans from banks, UPI-linked credit cards with a Rs 30,000 limit, and capacity-building support will be ensured.
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-m6lxc2rs-j1bfl3qs-j95unzhd">
Investing 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 🔶 Scheme for socio-economic upliftment of urban workers to be implemented 🔶 PM SVANidhi scheme to be revamped&hellip; <a href="https://t.co/eBg4SwhRXx">pic.twitter.com/eBg4SwhRXx</a>
&mdash; Ministry of Finance (@FinMinIndia) <a href="https://twitter.com/FinMinIndia/status/1885594601446400230?ref_src=twsrc%5Etfw">February 1, 2025</a></blockquote>
<a href="https://www.wionews.com/india-news/union-budget-2025-fm-sitharaman-to-introduce-new-income-tax-bill-next-week-8680495">Also read: Union Budget 2025: FM Sitharaman to introduce new income tax bill next week</a>
<h2>FM Sitharaman vows reforms across six vital domains</h2>
Sitharaman has pledged to implement reforms across six vital sectors: taxation, urban development, mining, financial sector, power and regulatory reforms.&nbsp;
The budget also laid stress on the growing spending power of India's growing middle class.
"Union Budget 2025-26 with an effort to a. Accelerate growth b. Secure inclusive development c. Invigorate society and industry d. Uplift household sentiment and e. Enhance spending on the power of India's rising middle class," she said.
Despite acknowledging the ongoing geopolitical challenges that could hinder global economic growth, the finance minister expressed confidence in India's robust economic foundation.&nbsp;
FM Sitharaman highlighted the government's vision of 'Sabka Vikas' (Development for All), which she said is aimed at balancing growth across all regions.
(With inputs from agencies)

India news: The finance minister announced that the PM SVANidhi scheme will be reworked with enhanced loans from banks, UPI-linked credit cards with a Rs 30,000 limit, and capacity-building support will be ensured.

Finance Minister Nirmala Sitharaman announced a significant development for gig workers in her record eighth consecutive Budget speech on Saturday (Feb 1). The government will now give ID cards to gig workers and they will be provided with access to healthcare benefits through a comprehensive social security scheme. She said that the government will support various worker groups, including street vendors, and online and urban workers. Identity cards will be provided to gig workers of online platforms and their registration will be done via the e-Shram portal. The finance minister announced that the PM SVANidhi scheme will be reworked with enhanced loans from banks, UPI-linked credit cards with a Rs 30,000 limit, and capacity-building support will be ensured. Investing 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 🔶 Scheme for socio-economic upliftment of urban workers to be implemented 🔶 PM SVANidhi scheme to be revamped… pic.twitter.com/eBg4SwhRXx — Ministry of Finance (@FinMinIndia) February 1, 2025 Also read: Union Budget 2025: FM Sitharaman to introduce new income tax bill next week FM Sitharaman vows reforms across six vital domains Sitharaman has pledged to implement reforms across six vital sectors: taxation, urban development, mining, financial sector, power and regulatory reforms. The budget also laid stress on the growing spending power of India's growing middle class. "Union Budget 2025-26 with an effort to a. Accelerate growth b. Secure inclusive development c. Invigorate society and industry d. Uplift household sentiment and e. Enhance spending on the power of India's rising middle class," she said. Despite acknowledging the ongoing geopolitical challenges that could hinder global economic growth, the finance minister expressed confidence in India's robust economic foundation. FM Sitharaman highlighted the government's vision of 'Sabka Vikas' (Development for All), which she said is aimed at balancing growth across all regions. (With inputs from agencies)

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

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

BREAKING | Union Budget 2025-26: No income tax up to income of ₹12 lakh | WION detailed coverage

Finance Minister Nirmala Sitharaman recently announced several key initiatives aimed at strengthening India’s healthcare and education sectors.

Over the next three years, all district hospitals will be equipped with cancer daycare centers, enhancing access to cancer care across the country.

Additionally, 75,000 new undergraduate medical seats will be created over the next five years, addressing the growing demand for medical professionals. Sitharaman also highlighted the establishment of five national centres for skilling, which will bring in global expertise to support the 'Make for India, Make for the World' initiative.

Budget 2025: FM Sitharaman announces 75,000 new UG medical seats, 10,000 fellowships in IITs & IIMs

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.

The Economic Survey, which was tabled in the Parliament on Friday (Jan 31), forecasted a robust growth rate for India's economy, predicting an expansion between 6.3 and 6.8 per cent in the coming financial year (2025-26).

Budget 2025: Nirmala Sitharaman presents her 8th consecutive Union Budget | WION detailed coverage

Budget 2025: Union Finance Minister Nirmala Sitharaman is scheduled to present the Economic Survey to the Loksabha at about 12 p.m. Sitharaman will propose the budget for FY 2025-26 tomorrow, February 1, 2025, at 11 a.m. Ahead of the budget, the Indian middle class and taxpayers are looking for significant income-tax reductions and reliefs. Tax slabs are projected to change under future tax regimes, as is the increase in basic deductions.

Budget 2025: Focus on digital economy & tech growth | Live analysis of India's Budget 2025

Union Finance Minister Nirmala Sitharaman announced the launch of the &lsquo;Dhan Dhanya Krishi Yojana' in her Budget speech for 2025-26. It is aimed at benefiting 17 million farmers ( 1.7 crore). The scheme will be implemented in collaboration with state governments across 100 districts with low agricultural productivity. Sitharaman emphasised that the initiative is designed to create sustainable opportunities in rural areas, aiming to reduce forced migration and promote rural employment.
Sitharaman outlined several significant agricultural measures, including: &nbsp; - A National Mission for Edible Oil and Seeds to enhance domestic production. &nbsp; - A six-year mission aimed at achieving self-reliance in pulse production. &nbsp; - Establishment of a Makhana Board in Bihar to promote better processing and value addition of this indigenous crop.
Also read | <a href="https://www.wionews.com/india-news/union-budget-2025-opposition-creates-ruckus-in-parliament-ahead-of-budget-presentation-by-fm-sitharaman-8680144">FM Sitharaman commences Budget speech amid protest by Samajwadi Party MPs as opposition stages walkout</a>
The &lsquo;Dhan Dhanya Krishi Yojana&rsquo; will draw inspiration from the Aspirational Districts Programme (ADP), initiated by Prime Minister Narendra Modi in 2018 and is currently active in 112 districts.
<h2>Kisan Credit Card limit enhancement</h2>
Another major announcement in the Budget was the increase in the Kisan Credit Card (KCC) loan limit from $3,460.36 to $5,767.2 (Rs 3 lakh to Rs 5 lakh). The KCC scheme, which has supported &nbsp;77 million (7.7 crores) farmers and fishermen, helps meet production costs, post-harvest expenses, and other agricultural needs. This increase will offer farmers greater access to credit, furthering the government&rsquo;s goal of improving financial inclusion in agriculture.
Also read | <a href="https://www.wionews.com/india-news/budget-2025-fm-nirmala-sitharaman-pays-tribute-to-madhubani-art-dons-elegant-off-white-saree-8679840">Budget 2025: FM Nirmala Sitharaman pays tribute to Madhubani art, dons elegant off-white saree</a>
The Kisan Credit Card scheme, launched by the Ministry of Agriculture and Farmers' Welfare in 1998 has provided farmers with essential credit facilities. The scheme has been pivotal in empowering farmers with the financial resources needed for agricultural growth, ensuring they are not hindered by lack of access to capital. The enhanced loan limit will further support the growth of the agriculture sector, providing farmers with better opportunities for productivity and income generation.
(With inputs from agencies)

Sitharaman emphasised that the initiative is designed to create sustainable opportunities in rural areas, aiming to reduce forced migration and promote rural employment.

Union Finance Minister Nirmala Sitharaman announced the launch of the ‘Dhan Dhanya Krishi Yojana' in her Budget speech for 2025-26. It is aimed at benefiting 17 million farmers ( 1.7 crore). The scheme will be implemented in collaboration with state governments across 100 districts with low agricultural productivity. Sitharaman emphasised that the initiative is designed to create sustainable opportunities in rural areas, aiming to reduce forced migration and promote rural employment. Sitharaman outlined several significant agricultural measures, including: - A National Mission for Edible Oil and Seeds to enhance domestic production. - A six-year mission aimed at achieving self-reliance in pulse production. - Establishment of a Makhana Board in Bihar to promote better processing and value addition of this indigenous crop. Also read | FM Sitharaman commences Budget speech amid protest by Samajwadi Party MPs as opposition stages walkout The ‘Dhan Dhanya Krishi Yojana’ will draw inspiration from the Aspirational Districts Programme (ADP), initiated by Prime Minister Narendra Modi in 2018 and is currently active in 112 districts. Kisan Credit Card limit enhancement Another major announcement in the Budget was the increase in the Kisan Credit Card (KCC) loan limit from $3,460.36 to $5,767.2 (Rs 3 lakh to Rs 5 lakh). The KCC scheme, which has supported 77 million (7.7 crores) farmers and fishermen, helps meet production costs, post-harvest expenses, and other agricultural needs. This increase will offer farmers greater access to credit, furthering the government’s goal of improving financial inclusion in agriculture. Also read | Budget 2025: FM Nirmala Sitharaman pays tribute to Madhubani art, dons elegant off-white saree The Kisan Credit Card scheme, launched by the Ministry of Agriculture and Farmers' Welfare in 1998 has provided farmers with essential credit facilities. The scheme has been pivotal in empowering farmers with the financial resources needed for agricultural growth, ensuring they are not hindered by lack of access to capital. The enhanced loan limit will further support the growth of the agriculture sector, providing farmers with better opportunities for productivity and income generation. (With inputs from agencies)

Budget 2025: FM Sitharaman announces PM ‘Dhan Dhanya Krishi Yojana’ for farmers, increases loan limit for kisan credit cards

Rising costs, stubborn inflation, and soaring taxes—India's middle class is feeling the pinch like never before. As Budget 2025 looms the nation's backbone demands an overhaul to ease their financial burdens. Here's a comprehensive report on their wish list. Take a look.

Budget 2025 | Focus on taxes & growth | WION detailed coverage

The government is under pressure to address slowing demand and growth. In this report, we dive into the broad expectations from the Finance Minister's announcement. The government is expected to extend its 2024 budget priorities and themes to ensure policy continuity and boost investor sentiment, going beyond the regular public rhetoric. Watch in for more details!

Budget 2025 | Sectors in focus: Agri, defence, infra, education & health

Budget 2025 expectations: Weak consumption may force govt to cut taxes | WION detailed coverage

As India anticipates the Union Budget 2025, the crypto industry seeks reforms in taxation and regulations to enhance innovation and adoption.
#india #tax #budget2025

Budget 2025: Crypto industry's wishlist from the budget | WION detailed coverage

India's finance minister has tabled the country's economic survey for 2024-25. In many ways, this is the economic report card that serves as the basis for the country's budget. So, let's break down the numbers for you. Watch in for more details!

Highlights of India's Economic Survey 2024-25: Slowing demand puts the spotlight on consumer demand

India will once again look at managing its finances in a disciplined manner. The budget today will likely show the government's commitment to bringing down the fiscal deficit. Our next report decodes the nuances of India's fiscal strategy for the upcoming financial year.

Budget 2025 expectations: India's budget will aim for fiscal discipline

Union Finance Minister Nirmala Sitharaman is set to present her ninth Union Budget on February 1, 2025. Throughout her term, FM Sitharaman has achieved important changes to benefit taxpayers, corporations, farmers, and other stakeholders. 

The next Union Budget is likely to include steps to improve sluggish economic development and reduce the financial strain on the middle class, which is dealing with rising costs and stagnant income growth. Taxpayers expect improvements to capital gains tax and a rise in the basic deduction in both tax systems. Watch in for more details!

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