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Budget 2025 LIVE: Nirmala Sitharaman Announces Zero Tax on Income Up to ₹12.75 Lakh for Middle Class
Budget 2025 LIVE: Nirmala Sitharaman Announces Zero Tax on Income Up to ₹12.75 Lakh for Middle Class
On February 1, Union Finance Minister Nirmala Sitharaman presented the Lok Sabha with her ninth straight Union Budget 2025. Along with several other changes, Sitharaman declared that salaried individuals would not be required to pay income tax on amounts up to ₹12.75 lakh under the new tax system.
Budget Speech 2025 key takeaways
Among the most important lessons learned from FM Nirmala Sitharaman’s budget speech are the following:
1) Fiscal deficit: The predicted fiscal deficit for FY26 is 4.4%, whereas the fiscal deficit for FY25 is set at 4.8%.
2) On Jan Vishwas Bill: Vishwas, Jan More than 100 clauses will be decriminalized by the upcoming Bill 2.0. In 2025, an investment-friendly index of states will be introduced.
3) Revised tariff rates: Add seven tariff rates not included in the previous budget. Following the latest shift, there are just eight tariff rates left.
4) The FM announced a ₹1.5 lakh crore investment in 50-year interest-free loans to states for infrastructure and capital expenditures.
5) FM declared that 36 medications and live savings pharmaceuticals were completely free from basic customs duties.
The industry-wide expectations of capital expenditure growth and income tax reduction for the salaried class coincide with the high-stakes budget. FM Sitharaman announced the Economic Survey 2025 on Friday, January 31, the opening day of the Parliament’s Budget Session.
Budget 2025 Speech
The Lok Sabha heard Union Finance Minister Nirmala Sitharaman’s Budget 2025 address at 11 a.m. She is presenting her second full-fledged budget of the Narendra Modi-led NDA administration, which was established in 2024 (Modi 3.0), and her eighth consecutive budget presentation in Parliament. On Friday, January 31, 2025, FM Sitharaman presented the Economic Survey 2025 to the Parliament, starting the first portion of the Budget session.
Conclusion
Union Finance Minister Nirmala Sitharaman included several important measures in his Budget 2025, such as reduced taxes for salaried people, more infrastructure investment, and revised tariff rates. With its emphasis on economic stability, fiscal prudence, and development, the budget aligns with the Modi 3.0 administration’s financial future vision for India. The publication of the Economic Survey 2025 further shaped the government’s policy stance for the upcoming fiscal year.