Nirmala Sitharaman Announces Budget 2025

In the Lok Sabha on February 1, 2025, Union Finance Minister Nirmala Sitharaman presented the Union Budget for 2025. She highlighted the growth in the business sector which contributes towards economic development and the tax business help efforts. One important announcement was the new Income Tax Bill scheduled to be introduced next week. The budget also gives importance to capital expenditure, infrastructure, agriculture, and rural development to enhance the strength of the fiscal economy.

New Income Tax Bill: What To Expect?

The Budget 2025 presentation is one of the most awaited announcements because of the expected introduction of a new Income Tax Bill next week. The no income tax for people with a 12 lakh income slab is surely the highlight of the awaiting bill While we wait for further information, the new Income Tax Bill likely will:

• Make the tax structure more comprehensible and easier to follow for both individuals and businesses.

• Relieve the burden for the salaried class by possibly changing the income tax slabs.

• Reduce the level of taxes paid using more exemptions and deductions in their applicable fields.

• Bring in more clarity and ease to the taxpayer in the filing of taxes.

If we ignore the expectations of the middle class for possible tax relief, especially regarding the rapidly rising prices and economic pressure, the Finance Minister has already broadened a scope, reform-driven approach to align tax policy to the long-term economic vision for India. That's going to be helpful.

Boosting Agriculture And Rural Prosperity

The government has put into place a 6-year initiative to self-sustain in the cultivation of tur, urad and masoor pulses, as well as cotton farming so that they can increase self-sufficiency in agriculture.

A new PM Dhan Dhyan Krishi Yojana has been launched which covers 100 districts with less crop production. The aim is to increase crop production and make available credit easier and farming equipment more approachable.

The Rural Prosperity & Resilience Program seeks to expand economic activity in rural India by focusing on children, women and farmers so that the financial systems of the villages can be more inclusive and diverse.

Stock Market & Business Sentiment

After the Budget 2025 announcement, the Indian stock market saw a small rise. Fertilizers, fisheries, and infrastructure sectors reacted positively. The focus on spending and tax changes may boost investor confidence in the coming weeks.