No income tax is levied on the average monthly salary of up to Rs. 1,00,000.
NIL income tax is to be paid by the salary class up to Rs. 12.75 Lakhs per annum under the new tax regime.
Four Engines of Development, i.e., Agriculture, MSME, Investment, Exports, are recognized by the Union budget.
Atleast 7 Crore Farmers will be benefited by the Prime Minister Dhan- Dhaanya Krishi Yojna, which is to cover 100 Low Agricultural Productivity Districts.
A mission for Aatmanirbharta in pulses, with a special focus on Tur, Urad, and Masoor, is to be launched.
Loans up to Rs. 5,00,000 are provided through KCC under the modified interest subvention scheme.
It is estimated that F.Y. 25 will end with a Fiscal Deficit of 4.8%, and a target is set to bring it down to 4.4% in F.Y.-26.
A significant enhancement of credit with a guarantee cover is provided to MSMEs, from Rs. 5 Crore to Rs. 10 Crore.
A national manufacturing mission, covering small, medium, and large industries, is to be implemented for furthering “Make in India.”
50,000 Atal tinkering labs in government schools are to be established in the next 5 years.
A Centre of Excellence in artificial intelligence for education, with a total outlay of Rs. 500 Crore, is being established.
PM Svanidhi with enhanced loans from Banks, and UPI linked credit cards with a Rs. 30,000 limit, are being provided.
Identity cards are to be given to GIG workers, and they are to be registered on the e-shram portal and provided healthcare under PM Jan Arogya Yojana.
1 lakh Crore urban challenge fund is allocated for “cities as growth hubs.”
A nuclear energy mission for the R&D of small modular reactors is to be launched with an outlay of Rs. 20,000 Crore.
The modified Udan scheme is to enhance regional connectivity to 120 New Destinations.
A Rs. 15,000 crore Swamih fund is to be established for the expeditious completion of another Rs. 1 lakh stressed housing units.
20,000 Crore is allocated for private sector-driven research development and innovation initiatives.
The Gyan Bharatam Mission for the survey and conservation of manuscripts is to cover more than one crore manuscripts.
The FDI limit for insurance is enhanced from 74% to 100%.
Jan Vishwas Bill 2.0 is to be introduced for decriminalizing more than 100 provisions in various laws.
The updated income tax return time limit is increased from 2 years to 4 years.
The delay in TCS payment is decriminalized.
TDS on rent is increased from 2 Lakh to 6 Lakh.
BCD is exempted on 36 lifesaving drugs and medicines for treating cancer, rare, and chronic diseases.
BCD on IFPD is increased to 20%, and an open cell is reduced to 5%.
Parts of open cells are exempted from BCD to promote domestic manufacturing.
Additional capital goods for EV and mobile battery manufacturing are exempted with the purpose to uplift the Battery Production.
Raw materials and components used for shipbuilding are exempted from BCD for 10 years.
BCD on frozen fish paste has been reduced from 30% to 5% and on fish hydrolysate from 15% to 5%.
