Union Budget 2025 Explained with Highlights: Push for relief to middle class & tax slab tweaks

Income tax Budget 2025 Highlights: 

Finance Minister Nirmala Sitharaman announced new tax slabs in the new tax regime 2025, so there will be no income tax for those drawing ₹12 lakh and less.



Income tax slab changes budget 2025: 

The tax slabs and rates are as follows

0-4 lakh rupees: Nil

4-8 lakh rupees: 5%

8-12 lakh rupees: 10%

12-16 lakh rupees: 15%

16-20 lakh rupees: 20%

20-24 lakh rupees: 25%

Above 24 lakh rupees: 30%

Budget 2025 Important Points Explained Highlights: 

Union Finance Minister Nirmala Sitharaman unveiled her eighth consecutive Union Budget on Saturday (February 1). The income tax rebates she announced have been the biggest talking point.

Schemes for the MSME sector, women, farmers, the education sector, boosting exports, etc. have also been announced. The initiatives announced aim to boost self-reliance, with an eye on Atmanirbhar Bharat. Given the widespread discontent among the middle class, the announcement of tax relief has been welcomed. Here are five key takeaways from her speech.

Earlier, the Economic Survey was tabled in Parliament. It projected a growth rate of 6.3-6.8 per cent for the next financial year, stating, “Viksit Bharat@2047 envisions India as a developed nation by 2047, the centenary of our independence. This would entail sustained economic growth of close to 8 per cent every year for at least a decade.”

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