Simplifed Union Budget 2025-26
The Union Budget for the fiscal year 2025-26, presented by Finance Minister Nirmala Sitharaman, introduces several measures aimed at benefiting the common citizen and fostering economic growth. Here's a simplified breakdown of the key points: 1. Income Tax Relief To increase the spending power of the middle class, the government has revised the income tax structure: No Tax for Income up to ₹12 Lakh: Individuals earning up to ₹12 lakh annually will not have to pay any income tax. Adjusted Tax Slabs: For incomes above ₹12 lakh, the tax rates have been adjusted to reduce the burden on taxpayers. These changes aim to leave more money in the hands of the common people, encouraging spending and saving. 2. Support for Farmers Recognizing the crucial role of agriculture, the budget introduces initiatives to support farmers: Prime Minister Dhan-Dhaanya Krishi Yojana: A new scheme to enhance agricultural productivity and income. Enhan...