BIG RELIEF ! NO INCOME TAX UPTO ₹ 12 Lacs | Budget 2025 Highlights

BIG RELIEF ! NO INCOME TAX UPTO ₹ 12 Lacs | Budget 2025 Highlights
The 2025 Union Budget of India introduces significant reforms aimed at stimulating economic growth and providing relief to the middle class. Key highlights include:
Income Tax Reforms:
Increased Tax Exemption Limit: The income tax exemption threshold has been raised to ₹12 lakh, offering substantial relief to middle-class taxpayers.
Prime Minister Dhan-Dhaanya Krishi Yojana: A new scheme to enhance agricultural productivity and support farmers.
Enhanced Credit through Kisan Credit Card (KCC): Short-term loans up to ₹5 lakh will be facilitated for 7.7 crore farmers, fishermen, and dairy farmers.
Self-Reliance in Pulses: A six-year mission focusing on pulses like Tur, Urad, and Masoor to boost domestic production.
Establishment of Makhana Board in Bihar: A dedicated board to promote Makhana cultivation and trade in Bihar.
Infrastructure Development in Bihar:
Road Connectivity Projects: Development of the Patna-Purnea Expressway, Buxar-Bhagalpur Expressway, and additional expressway connections to Bodh Gaya, Rajgir, Vaishali, and Darbhanga, with a total investment of ₹26,000 crore.
Power Projects: A new 2400 MW power plant will be established in Pirpainti, Bhagalpur, at a cost of ₹21,400 crore.
Flood Management: Allocation of ₹11,500 crore for flood disaster management under the Accelerated Irrigation Benefit Programme.
Science and Innovation:
Research, Development & Innovation: An allocation of ₹20,000 crore to implement a private sector-driven research and development initiative.
PM Research Fellowship: Provision of 10,000 fellowships for technological research in IITs and IISc.
Gene Bank for Crops Germplasm: Establishment of a second gene bank housing 10 lakh germplasm lines to ensure future food and nutritional security.
Export Promotion:
Incentives for Electronics and EVs: Exemptions granted for components used in LED/LCD TVs, textiles, and lithium-ion batteries for mobile phones and electric vehicles.
Promotion of Maintenance, Repair, and Overhaul (MRO): A 10-year exemption on goods used for shipbuilding and ships meant for breaking.
Trade Facilitation: Introduction of time limits for finalizing provisional assessments and provisions for voluntary declaration of material facts after clearance.
Leather Goods: Full exemption of basic customs duties on wet blue leather to promote domestic consumption and enhance exports.
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