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सक्षम Test Series 2025
10 January, 2025
HIGHLIGHTS OF UNION BUDGET 2025
Sat 01 Feb, 2025
Budget Estimates for 2025-26
- Total Receipts other than Borrowing: ₹34.96 lakh crore
- Revenue Receipts: ₹34.2 lakh crore
- Capital Receipts: ₹16.4 lakh crore
- Net tax receipts: ₹ 28.37 lakh crore
- Total expenditure: ₹50.65 lakh crore
- Fiscal Deficit: 4.4% of GDP
- Primary Deficit: 0.8% of GDP
For 2024-25 (Revised Estimate)
- Total receipts (excluding borrowings): ₹31.47 lakh crore
- Net tax receipts: ₹25.57 lakh crore.
- Total expenditure: ₹47.16 lakh crore
- Capital expenditure: ₹10.18 lakh crore.
- Fiscal deficit: 4.8% of GDP
Income Tax
- New Tax Regime
- Up to Rs 4 lakh - 0%
- Rs 4-8 lakh - 5%
- Rs 8-12 lakh - 10%
- Rs 12-16 lakh - 15%
- Rs 16-20 lakh - 20%
- Rs 20-24 lakh - 25%
- Above Rs 24 lakh - 30%
Tax
- Personal income tax reforms to focus on middle class
- Annual limit of Rs 2.4 lakh for TDS on rent raised to Rs 6 lakh
- Limit for tax deduction for senior citizens to be doubled to Rs 1 lakh
| Announcement |
| Budget focused on fulfilling the aspirations of the poor, youth, farmers and women, representing the core values of GYAN (Garib, Yuva, Annadata, and Nari Shakti). |
| PM Dhan Dhaanya Krishi Yojana: PM Dhan Dhaanya Krishi Yojana, inspired by Aspirational District Programme for developing 100 agri-districts. |
| Makhana Board will be established in Bihar. |
| Aatmanirbharata in pulses
A 6-year mission with a special focus on tur, urad and masoor including procurement by NAFED and NCCF in next 4 years. |
| A comprehensive program for vegetables and fruits, to be aware about their nutritional needs. |
| National Mission on High Yielding Seeds: For research and development of more than 100 seed varieties released since July 2024. |
| Kisan Credit Card limit increased from 3 lakh to 5 lakh rupees. |
| Mission for Cotton Productivity for next 5 Years. |
| Atmanirbharata in Urea Production
An urea plant with an annual capacity of 12.7 Lakh Metric tonne production will be set up at Namrup, Assam. |
| The investment and turn-over limits for classification of MSMEs will be enhanced to 2.5 and 2 times respectively. |
| Fund of Funds for Startups - Alternate investment funds have received commitments of more than ₹91,000 crore with the Government of India’s contribution of 10,000 crore rupees. |
| A National Manufacturing Mission for small, medium and large industries will be launched. |
| Customised credit cards with 5 lakh rupees limit for micro enterprises registered on UDYAM portal.
10 lakh such cards will be issued in the first year. |
| New scheme for 5 lakh first time SC ST women entrepreneurs for term loan upto 2 crore rupees in next 5 years. |
| Focus product scheme will be implemented for the footwear and leather sector. |
| National Action Plan for Toys: To make India a global hub for toys. |
| Bharatiya Bhasha Pustak scheme for Indian language books for schools and higher education. |
| The National Institute of Food Technology, Entrepreneurship and Management will be established in Bihar. |
| Nuclear Energy Mission:
100 GW of nuclear power production by 2047 Rs 20,000 Cr for developing Small Modular Reactors (SMRs) 5 indigenous SMRs will be operationalised by 2033 |
| 2nd Asset Monetisation plan for 2025 -2030 to plough back capital of ₹10 lakh crore in new projects. |
| Modified UDAN Scheme to be launched, including 120 new destinations, 4 crore additional passengers. |
| Urban Challenge Fund will be established with 1 lakh crore rupees to drive the transformation of cities |
| Maritime Development Fund with a corpus of ₹25,000 crore will be set up. |
| Financial support will be provided for Western Koshi Canal Project in Mithilanchal and Greenfield Airports in Bihar. |
| 10,000 fellowships will be provided to IITs and IISc under PM Research Fellowship. |
| Jal Jeevan Mission: To achieve 100 % coverage, the mission extended till 2028 with an enhanced total outlay. |
| SWAMIH Fund-2: ₹ 15,000 crore for expeditious completion of one lakh dwelling units through blended finance facility. |
| Medical Tourism and Heal in India will be promoted in partnership with the private sector. |
| 2nd Gene Bank with 10 lakh germplasm lines will be set up for future food and nutritional security. |
| 50,000 Atal Tinkering Labs will be set up in Government schools in next 5 years. |
| Investment Friendliness Index of states will be launched in 2025 to promote competitive cooperative federalism. |
| Gyan-Bharatam Mission for survey, documentation, and conservation of manuscript heritage, to cover 1 crore manuscripts. |
| Day Care Cancer Centres in all district hospitals in the next 3 years with 200 Centres to be established in 2025-26. |
| National Geo-Spacial Mission to be set up to develop foundational geo-spacial infrastructure and data. |
| DeepTech Fund of Funds will be explored for next generation Startups. |
| BharatTradeNet will be set up for international trade documentation and financial solutions. |
| National Framework will be formulated as guidance to states for promoting Global Capability Centres in emerging tier 2 cities. |
| The FDI limit for the insurance sector will be raised from 74% to 100%, for companies that invest their entire premium in India. |
| Setting up of an export promotion mission, driven by the Ministries of Commerce, MSMEs and Finance. |
| A revamped central KYC registry will be rolled out in 2025. |
| Grameen Credit Score Framework: Public sector banks will develop a Grameen credit score framework. |
| Jan Vishwas Bill 2.0: To decriminalize more than 100 provisions in various laws. |
| A Centre of Excellence in Artificial Intelligence for Education will be set up at a total outlay of ₹500 crore. |
| Full exemption of Basic Customs Duty (BCD) on cobalt powder and lithium-ion battery waste, scrap, and 12 other critical minerals. |
| Indian Budget: Key Facts
First Union Budget of India presented: 7 April, 1860 (by James Wilson) First Budget of Independent India: 26 November, 1947 (R.K. Shanmukham Chetty, first Finance Minister of India) First Budget in Hindi: 1955 First woman to present budget: Indira Gandhi (1970) Black Budget: 1973-74 Dream Budget: 1997-98 First paperless Budget: 2021 Merger of Railway Budget into Union Budget: 2017 (Merged into Union Budget in 1924 on the recommendations of the Acworth Committee) Maximum number of Budgets presented by a woman Finance Minister: Nirmala Sitharaman (8) Maximum number of Budgets presented by a Finance Minister: Morarji Desai (10), P Chidambaram (9) Change in date of budget presentation: 2017 (from last working day of February to 1 February) Indian Prime Ministers who presented the budget: Jawaharlal Nehru (1958), Indira Gandhi (1970), Rajiv Gandhi (1987) |
Union Budget: Constitutional Provisions
| (Article) | Provision |
| Article 112 | Annual Financial Statement |
| Article 113 | Demands for Grants |
| Article 114 | Appropriation Bill |
| Article 115 | Supplementary, or Additional Grants |
| Article 116 | Vote on Account |
| Article 117 | Money Bill |
| Article 266 | Consolidated Fund and Public Account |
| Article 267 | Indian Contingency Fund |
| Article 280 | Finance Commission |