On February 1, 2025, Finance Minister Nirmala Sitharaman presented the Union Budget, introducing significant tax cuts to stimulate economic growth. The income tax exemption threshold was raised from ?7 lakh to ?12 lakh, providing substantial relief to the middle class. The budget also emphasized boosting agriculture by launching a high-yield crop program targeting 17 million farmers and enhancing subsidized credit. Additionally, the plan includes formalizing gig economy workers, improving their access to healthcare and welfare initiatives. Investments will also be directed towards startups, innovation, tourism, infrastructure development, and the energy sector, with a notable Nuclear Energy Mission to achieve 100 GW of nuclear power by 2047.
Union Budget 2025: Major Tax Reforms and Economic Initiatives
