1. Taxation and Personal Finance

  • Income Tax Relief:
    • No income tax will be levied on income up to ₹12 lakh under the new tax regime.
    • Revised tax rates: 10% on income of ₹8-12 lakh and 15% on income of ₹12-16 lakh.
    • Tax rebate for taxpayers with income up to ₹12 lakh, ensuring no tax liability for them.
    • Tax deduction limit for senior citizens doubled from ₹50,000 to ₹1 lakh.
    • TDS on rent increased from ₹2.40 lakh to ₹6 lakh annually.


2. MSMEs (Micro, Small, and Medium Enterprises)

  • New Classification Criteria: Investment and turnover limits for MSMEs enhanced to 2.5 and 2 times, respectively. Aimed at boosting confidence, growth, and employment generation.
  • Credit Support: Focus on funding and credit for MSMEs to set up and grow. Emphasis on sectors like food processing, agriculture, fisheries, and clean tech manufacturing.


3. Healthcare

  • Medical Education: Addition of 75,000 medical seats over the next five years, with 10,000 seats added in the next year.


4. Agriculture and Rural Development

  • Aatmanirbharta in Pulses: 6-year mission to boost self-reliance in pulses, focusing on tur, urad, and masoor. Emphasis on climate-resilient seeds, protein content enhancement, and productivity.
  • Makhana Board: Proposed in Bihar to improve the production, processing, and marketing of fox nuts.
  • Rural Prosperity Program: Focus on creating sustainable employment avenues and reducing migration.


5. Aviation and Regional Connectivity

  • Modified UDAN Scheme: Expansion to 120 new destinations and carrying 4 crore passengers over the next decade. Support for helipads and smaller airports in hilly, aspirational, and North East regions.
  • Greenfield Airports in Bihar: New airports to meet future needs, alongside expansion of Patna airport and a brownfield airport at Bihar.


6. Tourism

  • Development of Tourist Sites: Central government to develop 50 tourist destination sites in partnership with states.


7. Infrastructure and Real Estate

  • Railways: Capital expenditure remains unchanged at ₹2.52 lakh crore, focusing on safety and electrification.
  • Real Estate: Infrastructure development expected to enhance housing demand.


8. Gig Economy and Online Platform Workers

  • Health Insurance and Identity Cards: Government to arrange identity cards and facilitate registration on the e-Shram portal for one crore gig workers. Health insurance under PM Jan Arogya Yojana.


9. Education and Skill Development

  • Bhartiya Bhasha Pustak Scheme: Digital Indian language books for school and higher education.
  • Atal Tinkering Labs: 50,000 labs to be set up in government schools over the next five years.
  • Centres of Excellence: Five national centres for skilling with global expertise.


10. Environment and Clean Tech

  • Clean Tech Manufacturing: Focus on sectors like clean tech manufacturing, supporting MSMEs.


11. Bihar-specific Initiatives

  • Makhana Board: To improve production, processing, and marketing of fox nuts.
  • Greenfield Airports: New airports to meet future needs, alongside expansion of existing facilities.

Conclusion

The Union Budget 2025 focuses on tax relief for the middle class, support for MSMEs, healthcare expansion, agricultural self-reliance, regional connectivity, tourism, infrastructure development, and social security for gig workers. It aims to boost economic growth, employment, and inclusive development across various sectors