Budget 2025 Brings Good News: No Income Tax Up to ₹12.75 Lakh

Finance Minister Nirmala Sitharaman announced some exciting news in the recent Budget 2025! The biggest highlight is a significant tax relief for many Indians.

Key changes in Income Tax Slabs in Budget 2025:

No Income Tax: If you earn up to ₹12.75 lakh per year, you won’t have to pay any income tax under the new tax regime. What else is in the Budget?

Simplified Tax Deductions: The government makes it easier to understand how much tax is deducted from your income.
Focus on Growth: The budget aims to boost the economy with a focus on infrastructure development and job creation.
Relief for Businesses: The government is taking steps to make it easier for businesses to operate and grow.
This Budget 2025 is expected to provide a significant boost to the Indian economy and bring relief to millions of taxpayers.

Budget Speech 2025 key-takeaways

Here are some of the key-takeaways from FM Nirmala Sitharaman’s Budget speech:

1) Fiscal deficit: The fiscal deficit for FY25 is set at 4.8%, while the estimated fiscal deficit for FY26 stands at 4.4%.

2) On Jan Vishwas Bill: Jan Vishwas Bill 2.0 to be introduced to decriminalise over 100 provisions. Investment friendly index of States to be launched in 2025.

3) Revised tariff rates: Propose removal of 7 tariff rates over an above those in removed in earlier budget. Only 8 tariff rates to remain after the new move.

4) FM announced an outlay of ₹1.5 lakh crore for 50-year interest free loans to states for capex and infrastructure.

5) FM announced that 36 live savings drugs and medicines fully exempted from basic customs duty.