Finance Minister Nirmala Sitharaman is presenting the Budget 2025-26 speech today, February 1. Several important announcements have been made in this budget for everyone, from farmers to taxpayers. Let’s take a look at the 10 key highlights from the Finance Minister’s budget speech:
- Relief for Taxpayers: The Finance Minister announced that individuals with an income of up to 12 lakh rupees will no longer be taxed, providing significant relief to taxpayers.
- Expansion of Interest Subsidy Scheme for Kisan Credit Cards (KCC): The limit for the interest subsidy scheme for farmers has been increased from 3 lakh rupees to 5 lakh rupees.
- Prime Minister’s Dhan Dhany Krishi Yojana: Under this scheme, 100 districts with low crop yield, modern crop intensity, and lower-than-average loan criteria will be included. This will benefit 1.7 crore farmers.
- New Income Tax Bill: The government will present a new income tax bill next week, which will promote the concept of “trust first, then audit.” Additionally, foreign direct investment (FDI) in the insurance sector will be raised from 74% to 100%.
- Establishment of ‘Day Care’ Cancer Centers: The government will set up ‘Day Care’ cancer centers in all district hospitals within the next three years, with 200 centers being established in this financial year.
- Health Facilities for Gig Workers: Under the PM Jan Arogya Yojana (PM-JAY), health facilities will be provided to gig workers.
- Increase in Medical College Seats: 75,000 additional seats will be added in medical colleges over the next five years, with 10,000 extra seats to be added in medical colleges and hospitals in the next year.
- Making India a Hub for Toys: India will be established as a major hub for toys globally.
- Establishment of a Makhana Board: A Makhana Board will be set up to increase the income of people in Bihar.
- Finance Minister’s Eighth Budget: Finance Minister Nirmala Sitharaman presented her eighth budget using a digital tablet wrapped in the traditional ‘bahi-khata’ style. This budget is the 14th consecutive budget under the Narendra Modi government, including the interim budgets of 2019 and 2024.