The Booster Budget 2025

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HomeBudgetBudget 2025 Highlights: Budget bonanza for middle class, how much will you save? Check slab calculations and more
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Budget 2025 Highlights: Budget bonanza for middle class, how much will you save? Check slab calculations and more

Budget 2025 Highlights: A taxpayer earning Rs 12 lakh will get a benefit of Rs 80,000, which is 100% of the tax payable under the existing system.

February 02, 2025 / 23:19 IST

Budget 2025 Highlights:?Individuals having an annual income of Rs 24 lakh or more can hope to save of Rs 1.10 lakh in income tax, while those earning Rs 12 lakh will have to pay no tax, benefiting to the tune of Rs 80,000 from next fiscal under the new regime.

Sitharaman, in her 2025-26 Budget proposed new tax slabs under which people earning up to Rs 12 lakh will pay Nil tax. For salaried class, this limit could go up to Rs 12.75 lakh per annum after taking into account standard deduction of Rs 75,000.

For those with income of more than Rs 12 lakh and filing ITR under new tax regime, Budget has revised the tax slabs for computing tax liability on income earned in 2025-26 fiscal. Under the new slab, income up to Rs 4 lakh will be exempt. A 5 per cent tax will be levied for income earned between Rs 4 and 8 lakh, 10 per cent for Rs 8-12 lakh, 15 per cent for Rs 12-16 lakh.

This year’s Union Budget has generated significant anticipation, as it will be the second budget under the leadership of Prime Minister Narendra Modi’s government in its third term. The Budget Session of Parliament began on Friday, January 31, with President Droupadi Murmu addressing both Houses. As per the Parliamentary Bulletin, the session will be conducted in two phases. The first phase, which started on January 31 and includes the Union Budget presentation on February 1, will conclude on February 13. The second phase will commence on March 10 and run until April 4.

Finance Minister Nirmala Sitharaman, while addressing the media,?said, "There is no reduction in the public spending on capital expenditure. We continue to place emphasis on the multiplier effect that capital expenditure done by the government has shown has sustained us. We continue on that, and with all this, our fiscal prudence has been maintained..."

  • Budget 2025 Highlights: Budget bonanza for middle class, how much will you save? Check slab calculations and more
    Moneycontrol.com
  • February 02, 2025 / 19:27 IST

    Budget 2025 Highlights Live: There will be accelerated growth in the real estate segment with the Govt, says Rajiv Gupta, Managing Director, Wave City

    “The Union Budget 2025-26 will push the growth trajectory further as it focuses on increasing the income of the middle class by expanding the nil tax limit to Rs 12 lakh, stressing ease of doing business, building urban infrastructure and launching fresh funds for completion of stressed residential projects. There will be accelerated growth in the real estate segment with the Govt. setting up a ?1 lakh crore Urban Challenge Fund to transform cities into growth hubs, support creative redevelopment, and enhance water and sanitation infrastructure, which in turn boost residential real estate and create more housing and investment demand."

  • February 02, 2025 / 17:44 IST

    Budget 2025 Highlights Live: Proposed income tax reliefs for the middle-class population should bring in plenty of cheer and boost consumption, says Sudipta Roy, Managing Director & CEO, L&T Finance Ltd

    Sudipta Roy, Managing Director & CEO, L&T Finance Ltd said, “Budget announcements for FY26 have managed to hit the right balance between the need for a consumption stimulus and structural support towards a sustainable growth path for the

    economy.

    Proposed income tax reliefs for the middle-class population should bring in plenty of cheer

    and boost consumption. At the same time, CAPEX thrust has been maintained in the budget

    with targeted support to critical sectors. The economy thus gets both consumption and CAPEX

    push to strengthen growth momentum in the year.

    Reforms in the identified key engines of development- Agriculture, Investment, MSMEs, and

    Exports, will help accelerate transformation of these sectors as key growth drivers. Focus on

    Agriculture and Urban transformation will significantly help in unleashing the potential of the

    economy in the medium term. Announcements around ‘Grameen credit score framework’ and

    commitment to revamp KYC norms are big positives for the lending business. Focus sectors

    identified for MSME support are mostly labour-intensive sectors and besides driving

    manufacturing push, it will also help augment employment generation, skill development,

    credit availability etc.

    Most importantly, the underlying intent of deregulation and trust is very positive for the private

    sector. Overall, a well-balanced budget that sets the path for broad-based and sustainable

    domestic growth despite global headwinds.”

  • February 02, 2025 / 17:30 IST

    Budget 2025 Highlights Live: Tarun Singh, Founder and MD at Highbrow Securities, highlights the budget’s impact on MSMEs

    Tarun Singh, Founder and MD at Highbrow Securities, highlights the budget’s impact on MSMEs and broader economic stability. “The Union Budget 2025-26 presents both opportunities and challenges that will shape India's economic trajectory. As an equity investor in MSME companies, I welcome the government's renewed focus on this sector. The revised MSME classification—raising investment limits by 2.5 times and doubling turnover thresholds—will significantly improve credit access and support mechanisms, enabling small businesses to drive economic growth.

    However, the budget’s heavy reliance on disinvestment and privatisation raises concerns. While privatisation may boost government revenues, it risks job losses and could disrupt long-term growth. Employment stability is crucial, and economic expansion must not come at the cost of job security. Similarly, raising the income tax exemption limit to ?12 lakh provides relief but lacks alignment with broader growth strategies.

    Despite these concerns, the National Manufacturing Mission is a commendable step toward strengthening India's "Make in India" vision. Prioritising ease of doing business, workforce development, MSME engagement, technological access, and quality production will foster a dynamic manufacturing ecosystem.

    The proposed tax reforms promote inclusivity by reducing compliance burdens. Lowering TDS thresholds and extending tax return timelines benefit small businesses, startups, and those with variable incomes. Simplifying tax laws and encouraging voluntary compliance will create a more transparent and equitable system.”

  • February 02, 2025 / 16:27 IST

    This budget paves the way for a stronger, more connected India, says Shikhar Aggarwal, Chairman of BLS E-Services

    Shikhar Aggarwal, Chairman of BLS E-Services said in a forward-looking budget, Finance Minister Nirmala Sitharaman has laid the foundation for inclusive growth, empowering the Garib, Youth, Annadata, and Nari. With simplified KYC processes, digitized urban land records, and enhanced Mudra loan limits, this budget paves the way for a stronger, more connected India. We welcome this balanced and growth-oriented vision and are committed to partnering with the Government to drive the 'Digital India' initiative, especially in underserved areas, ensuring progress reaches every corner of the nation.

  • February 02, 2025 / 16:15 IST

    Budget 2025 Highlights Live: Customs duty adjustments supporting EV manufacturing will lead to improved technology, says Ashok Vashist, Founder and CEO, WTiCabs

    The expansion of regional connectivity under the UDAN scheme, with 120 new destinations, presents a significant opportunity for WTi Cabs/people mobility Industry to enhance its airport transfers, intercity travel, and last-mile connectivity. Simultaneously, customs duty adjustments supporting EV manufacturing—including exemptions on 35 additional capital goods—will lead to improved technology and lower vehicle acquisition costs. These initiatives will further strengthen WTi’s/ people mobility industries sustainability goals by enabling a smoother transition to electric mobility while leveraging solar-powered EV charging infrastructure, ensuring an eco-friendly and cost-effective transportation network.

  • February 02, 2025 / 15:39 IST

    Budget 2025 Highlights Live: Monetary support from the budget will certainly provide the basis for the startup's destiny in Indiasays Murali Krishna V, PrinciPal, Spyre VC

    Murali Krishna V, PrinciPal, Spyre VC said," Budget 2025 marks a major development for the startup ecosystem in India, with Finance Minister Nirmala Sitharaman announcing additional support of ?10,000 crore to the ?10,000 crore fund already set up for startups. This strategic decision to energize innovation and entrepreneurship in the country offers the crucial financial support startups need to grow their businesses and spur economic growth. The ?20,000 crore commitment reinforces the government's incessant support for the startup community, realizing the critical role it plays in job development and technology advancement. By easing access to capital, the budget endeavors to ensure that entrepreneurs are enabled to chase their dreams and sustain a more dynamic economy. This intervention assumes utmost importance in a scenario where startups are increasingly looked upon as growth engines to tackle immediate challenges and deliver sustainable solutions. The funds are also expected to draw further investments, thus creating a lively ecosystem that fosters cooperation and innovation. Going forward, this monetary support from the budget will certainly provide the basis for the startup's destiny in India being competitive at the global level and thriving in an ever-changing environment.

  • February 02, 2025 / 15:09 IST

    Budget 2025 Highlights Live: Budget provides a timely impetus to consumption driven by the vibrant middle classes, says Sanjay Nayar, President, ASSOCHAM

    Sanjay Nayar, President, ASSOCHAM said “Budget 2025 provides a timely impetus to consumption driven by the vibrant middle classes. The significant tax relief will boost demand while maintaining fiscal deficit at 4.4 per cent of GDP. The government has made a truly bold decision in foregoing Rs 1 lakh crore revenue in direct taxes. The measures for MSMEs, startups and exports will be an important driving force for Viksit Bharat. Ease of doing business and ease of living remain central themes of the budget with focus on equitable growth of all sections of society. The light touch regulatory framework is an essential reform aligned with India's goal to be a developed economy. Make in India has received a shot in the arm through customs duty exemption on inputs for electronic goods which is emerging as a vital industry in India. The focus on skilling, innovation, and AI will be instrumental in securing India's talent pool for jobs of the future.”

  • February 02, 2025 / 14:48 IST

    Budget 2025 Highlights Live: Setting up of Urban challenge fund of Rs 1 lakh crore for redevelopment of cities will boost infrastructure development, says Satish Kumar Agarwal, CMD, Kamdhenu Limited

    Satish Kumar Agarwal, CMD, Kamdhenu Limited said, “Finance Minister Nirmala Sitharaman has presented a Budget which further strengthens India’s standing as the fastest-growing economy in the country and builds on the clarion call of Aatmanirbhar Bharat made by Prime Minister Narendra Modi. The allocation of Rs. 15,000 crore towards SWAMI Fund 2 and the setting up of Urban challenge fund of Rs. 1 lakh Crore for redevelopment of cities will boost infrastructure development and demand for construction materials.”

  • February 02, 2025 / 14:16 IST

    Budget 2025 Highlights Live: Individuals can save up to Rs 1.10 lakh in taxes as Budget rejigs I-T slabs under new regime

    Individuals having an annual income of Rs 24 lakh or more can hope to save of Rs 1.10 lakh in income tax, while those earning Rs 12 lakh will have to pay no tax, benefiting to the tune of Rs 80,000 from next fiscal under the new regime.

    Finance Minister Nirmala Sitharaman in her Budget exempted, from income tax, persons earning up to Rs 12 lakh per annum and rejigged the tax slabs under the new tax regime.

  • February 02, 2025 / 13:53 IST

    Budget 2025 Highlights Live: More 1 crore people will pay no income tax due to hike in rebate

    The government has put "substantial amount of money" in hands of people through rejig of I-T slabs in the Budget and an additional 1 crore people will pay no tax due to hike in tax rebate to Rs 12 lakh per annum, Finance Minister Nirmala Sitharaman said.

    The 2025-26 Budget hikes the tax rebate available to individual taxpayer to Rs 12 lakh from next fiscal, from Rs 7 lakh currently.

  • February 02, 2025 / 13:28 IST

    Budget 2025 Highlights Live: CPI (M) accuses Centre of having 'anti-Kerala' mindset

    The ruling CPI (M) intensified it's attack against the Centre over the alleged neglect faced by the state in the union budget 2025-26 and said it reflected the "anti-Kerala" mindset of the BJP.

    Veteran Marxist party leaders M V Govindan and E P Jayarajan slammed the budget, presented by Finance Minister Nirmala Sitharaman on Saturday, and Union Minister of State George Kurian's controversial statement against the southern state with regard to budget allocations.

  • February 02, 2025 / 13:15 IST

    Budget 2025 Highlights Live: Tax relief and enhanced spending on infra and rural development to boost consumption, saysFMCG makers

    “The Union Budget 2025-26 is a bold and forward-looking plan that places the middle class at its core while ensuring inclusive and sustainable growth across all sectors," said Marico MD & CEO Saugata Gupta.

    PepsiCo India & South Asia Chief Executive Officer Jagrut Kotecha said Union Budget 2025 is focused on an income-led economic revival that will provide relief to the middle-income group.

    Godrej Consumer Products Ltd Chief Financial Officer Aasif Malbari said Union Budget 2025 takes a balanced approach by strengthening rural infrastructure, manufacturing, and consumer spending, which are three critical pillars for the FMCG sector.

  • February 02, 2025 / 12:55 IST

    Budget 2025 Highlights Live: NPS Vatsalya contribution to get tax benefit up to Rs 50,000

    To make NPS Vatsalya more attractive, Finance Minister Nirmala Sitharman on Saturday proposed tax exemption for contribution up to Rs 50,000 per year under the scheme.

    "I am also proposing to allow similar treatment to NPS Vatsalya accounts as is available to normal NPS accounts, subject to overall limits," she said while presenting Budget 2025-26 in Lok Sabha.

    However, the tax benefit would be availed by those who opt for old tax regime.

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