Finance Minister Nirmala Sitharaman has officially begun presenting the Union Budget 2025, marking her eighth consecutive budget speech. The budget aims to push economic growth, boost infrastructure, and drive digital transformation across key sectors.
12:24 (IST)
Budget 2025 Live: Tax Benefits for High-Income Earners
Finance Minister Nirmala Sitharaman outlined significant tax benefits for individuals with higher incomes.
A person with an annual income of Rs 18 lakh will benefit by Rs 70,000 in tax savings.
A person with an annual income of Rs 25 lakh will benefit by Rs 1,10,000 in tax savings.
Income tax rates for higher incomes:
20% on income between Rs 16-20 lakh.
25% on income between Rs 20-24 lakh.
30% on income above Rs 24 lakh.
12:16 (IST)
Union Budget 2025: Key Income Tax Announcements
Finance Minister Nirmala Sitharaman announced a major change in the income tax structure.
No income tax payable up to Rs 12 lakh.
For salaried taxpayers, the limit increases to Rs 12.75 lakh with a standard deduction of ₹75,000.
Tax slabs and rates are being revised across the board.
The new structure aims to reduce taxes for the middle class, boosting household consumption, savings, and investment.
12:14 (IST)
Budget 2025 Live: TDS Rates and Thresholds to Be Reduced
Finance Minister Nirmala Sitharaman announced several key changes to TDS rates and thresholds:
The limit for tax deduction on interest for senior citizens will be doubled from ₹50,000 to ₹1 lakh.
The annual limit for TDS on rent will be increased from ₹2.40 lakh to ₹6 lakh.
The threshold for tax collection at source (TCS) on remittances under the RBI’s Liberalised Remittance Scheme will be raised from ₹7 lakh to ₹10 lakh.
These changes are aimed at simplifying tax compliance and providing relief to taxpayers.
Finance Minister Nirmala Sitharaman announced that no income tax will be payable on income up to Rs 12 lakh. This move aims to provide relief to taxpayers and enhance disposable income.
12:10 (IST)
Budget 2025 Live: Govt to Increase TCS on Remittances Under RBI's Liberalised Remittance Scheme
Finance Minister Nirmala Sitharaman announced that the TCS (Tax Collected at Source) on remittances under the RBI's Liberalised Remittance Scheme will be increased from ₹7 lakh to ₹10 lakh. She also mentioned that, following the July 2024 Budget, where the delay in TDS payments up to the due date of filing statements was decriminalized, she proposes to apply the same approach to the TCS provisions.
12:10 (IST)
Budget 2025 Live: Reducing Burden on Tax Compliance
Finance Minister Nirmala Sitharaman announced measures to reduce the compliance burden for small charitable trusts and institutions by increasing their registration period from 5 years to 10 years. Additionally, taxpayers will be allowed to claim the annual value of two self-occupied properties as nil, without any conditions. These changes aim to simplify tax compliance for individuals and organizations.
12:08 (IST)
Budget 2025 Live: New Income Tax Bill to Be Introduced
Finance Minister Nirmala Sitharaman announced that a new Income Tax Bill will be introduced, designed to be clear and direct in its text. The new bill will be about half the size of the current law, aiming to simplify tax procedures and provide tax certainty, ultimately leading to reduced litigation.
12:08 (IST)
Budget 2025 Live: Fiscal Deficit and Regulatory Reforms
Finance Minister Nirmala Sitharaman announced that the fiscal deficit for FY25 is projected at 4.8% of GDP, with a target of 4.4% for FY26. She also stated that net market borrowings for the next fiscal year are estimated at ₹11.54 lakh crore.
Additionally, the government will establish a high-level committee to oversee regulatory reforms across non-financial sectors. Sitharaman also revealed that the National Bank for Financing Infrastructure and Development (NaBFID) will introduce a partial credit enhancement facility for corporate bonds.
12:06 (IST)
Budget 2025 Live: Framework to Unlock Potential of India’s Marine Sector
Finance Minister Nirmala Sitharaman highlighted the importance of unlocking the potential of India's marine sector. She announced that the government will introduce a framework for the sustainable harnessing of fisheries, focusing on the Andaman and Lakshadweep regions.
India is the second-largest producer of fish globally and a leader in aquaculture, with seafood exports valued at ₹60,000 crore. The government aims to tap into the untapped potential of the marine sector by developing a framework to promote sustainable fisheries in India's Exclusive Economic Zone and high seas, with special emphasis on the Andaman and Nicobar and Lakshadweep islands.
12:04 (IST)
Union Budget 2025 Live: UDAN Scheme to Expand Regional Connectivity
Finance Minister Nirmala Sitharaman announced the launch of a modified UDAN scheme to enhance regional connectivity by adding 120 new destinations and accommodating 4 crore additional passengers over the next 10 years. The scheme will also support the development of helipads and smaller airports in hilly, aspirational, and northeastern districts.
Additionally, greenfield airports will be facilitated in Bihar to meet the state’s future needs, alongside the expansion of Patna airport and a brownfield airport in Bihta. Financial support will also be provided for the Western Kosi Canal ERM project in Mithilanchal, benefiting farmers in the region.
12:03 (IST)
Union Budget 2025 Live: Importing Lifesaving Drugs and Medicines Becomes Cheaper
Finance Minister Nirmala Sitharaman announced that 36 lifesaving drugs and medicines will be added to the list of products fully exempted from Basic Customs Duty. Additionally, 37 more medicines and 13 new patient assistance programmes will also be fully exempt from Basic Customs Duty, provided they are supplied free of cost to patients. These measures aim to make essential healthcare more affordable.
12:00 (IST)
Budget 2025 Live: Mudra Loans for Homestays and Development of 50 Tourism Sites
Finance Minister Nirmala Sitharaman announced plans to develop the top 50 tourist sites in collaboration with state governments and extend Mudra loans to homestays to boost the tourism sector. The government also intends to promote medical tourism in partnership with the private sector, with a special focus on destinations linked to the life and times of Lord Buddha. Additionally, financial support will be provided for the Western Kosi Canal project, benefiting 50,000 hectares in the Mithilanchal region of Bihar.
11:59 (IST)
Union Budget 2025 Live: Rural Prosperity and Resilience Programme
The government announced the Rural Prosperity and Resilience Programme, aimed at creating opportunities in rural areas to make migration an option, not a necessity. The programme will focus on catalyzing enterprise development, employment, and financial independence for rural women, while also working to accelerate the creation of new employment opportunities and businesses for young farmers and rural youth.
11:58 (IST)
Budget 2025 Live: New Income Tax Bill to Be Introduced Next Week
Finance Minister Nirmala Sitharaman announced plans to introduce a new Income Tax Bill next week, aimed at replacing the Income Tax Act of 1961. The bill will be based on the Direct Tax Code (DTC) and is designed to streamline tax compliance for both individuals and businesses, ensuring a more efficient and modern tax framework.
11:57 (IST)
Union Budget 2025 Live: Key Announcements on Infrastructure, AI, and Urban Reforms
Finance Minister Nirmala Sitharaman announced an interest-free loan provision of ₹1.5 lakh crore for states, spanning 50 years, to support infrastructure development. A fresh asset monetisation initiative will be introduced for the period 2025-30, with the goal of generating ₹10 lakh crore for new ventures.
Additionally, ₹500 crore will be allocated to establish an artificial intelligence centre of excellence focused on education. The Budget allocation for the Jal Jeevan Mission will also be increased to ensure complete nationwide coverage.
To foster urban development, the Finance Minister stated that incentives would be offered for reforms in urban areas, specifically targeting governance, land utilisation, and planning.
11:56 (IST)
Union Budget 2025 Live: FM on Fiscal Deficit and Net Tax Receipts
Finance Minister Nirmala Sitharaman stated that the fiscal deficit for the year is estimated to be 4.4% of GDP. Regarding net tax receipts, she revealed that the revised estimate for total receipts, excluding borrowings, is ₹31.47 lakh crore, with net tax receipts amounting to ₹25.57 lakh crore.
11:55 (IST)
Budget 2025 Live: Tourism Sector Gets a Boost
Crisil views India's plans to revamp the tourism sector through a multi-faceted approach. The aim is to increase tourism's contribution to GDP from the current 5% to 9-12%, bringing it in line with peer countries. Key initiatives include enhancing last-mile connectivity, expanding the UDAN scheme, upgrading tourist destinations, simplifying visa regulations, and improving the overall hygiene quotient to attract more international visitors.
11:53 (IST)
Union Budget 2025 Live: FDI Limit for Insurance Sector Raised to 100%
Finance Minister Nirmala Sitharaman announced that the FDI limit for the Insurance Sector will be increased from 74% to 100%. This enhanced limit will apply to companies that invest the entire premium within India. She also stated that the current guardrails and conditionalities related to foreign investment will be reviewed and simplified to encourage more investment in the sector.
11:51 (IST)
Union Budget 2025: Sitharaman Announces Focused Scheme for Footwear and Leather Sectors
Finance Minister Nirmala Sitharaman introduced a focused scheme for the footwear and leather sectors to boost domestic production and enhance global competitiveness. In addition, the government outlined plans to establish India as a global hub for toy manufacturing, further strengthening the country's position in the global market.
1:51 (IST)
Union Budget 2025 Live: Focus on Public Education and Health
The government will implement the Bharatiya Bhasha Pustak Scheme to provide digital Indian language books for school and higher education. Additionally, Day Care Cancer Centres will be established in all district hospitals within the next three years, with 200 centres planned for FY 2025-26. These initiatives aim to enhance educational accessibility and healthcare infrastructure.
11:51 (IST)
Union Budget 2025 Live: I-Cards and e-Shram Registration for 1 Crore Gig Workers
Finance Minister Nirmala Sitharaman announced that the government will provide identity cards and register 1 crore gig workers on the e-Shram portal. She emphasized that gig workers, who contribute significantly to the New Age services economy, will be acknowledged through these efforts.
The initiative will also provide gig workers access to healthcare under the Pradhan Mantri Jan Arogya Yojana (PM-JAY), benefiting nearly one crore workers. Additionally, the government plans to implement a scheme for the socio-economic upliftment of urban workers.
11:49 (IST)
Budget 2025 Live: 50,000 Atal Tinkering Labs to Foster Innovation
Finance Minister Nirmala Sitharaman announced plans to establish 50,000 Atal Tinkering Labs over the next five years to encourage scientific thinking and innovation among the youth. During her 14th consecutive Budget presentation under Prime Minister Narendra Modi's administration, she also revealed plans to set up five national skilling centres with international expertise.
In addition, the government will roll out the Bharatiya Bhasha Pustak Scheme, which will provide digital access to Indian language books across educational institutions. Infrastructure will be expanded at five IITs, and measures will be implemented to enhance nutritional support nationwide.
The Atal Innovation Mission (AIM), launched by Niti Aayog in 2015, will continue to foster innovation and entrepreneurship, providing young individuals with the resources to transform their ideas into reality through hands-on experiences.
11:47 (IST)
Union Budget 2025 Live: Investments in Public Education and Health
The government announced plans to set up 50,000 Atal Tinkering Labs in government schools over the next five years. The Bharatiya Bhasha Pustak Scheme will be implemented to provide digital Indian language books for school and higher education. In healthcare, Day Care Cancer Centres will be established in all district hospitals within the next three years, with 200 centres planned for FY 2025-26.
11:46 (IST)
Budget 2025 Live: Support for Street Vendors and Online Workers
Finance Minister Nirmala Sitharaman announced that gig workers on online platforms will be provided with identity cards and registered on the e-Shram portal. Additionally, a scheme for the socio-economic upliftment of urban workers will be implemented. The PM SVANidhi scheme will be revamped to offer enhanced bank loans, UPI-linked credit cards with a ₹30,000 limit, and capacity building support for street vendors.
11:44 (IST)
Union Budget 2025 Live: Nuclear Energy Mission for Viksit Bharat
Finance Minister Nirmala Sitharaman emphasized the importance of developing at least 100 gW of nuclear energy by 2047 to support India’s energy transition. To facilitate active partnerships with the private sector, the government plans to introduce amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act.
11:41 (IST)
Budget 2025 Live: PM Dhan Dhanya Krishi Yojana Addresses Key Agricultural Challenges
Crisil views the PM Dhan Dhanya Krishi Yojana as a holistic initiative aimed at addressing critical issues in India's agricultural system, including productivity, crop intensity, and the post-harvest ecosystem. This is especially important given the decline in cereal productivity by 1-2% over the past decade and the anticipated impact of climate change, which is expected to reduce yields by 10-30% by 2050, according to ICAR.
11:41 (IST)
Budget 2025 Live: India Post Transformation to Boost Economic Growth
Crisil views the transformation of India Post into a large logistics organization as a key move to catalyse economic growth, especially in rural areas. The revamp of over 1.5 lakh rural post offices will play a pivotal role in enhancing connectivity and fostering economic development in India's hinterland.
11:39 (IST)
Union Budget 2025 Live: FM Sitharaman Proposes Makhana Board and New Urea Manufacturing Facility
Finance Minister Nirmala Sitharaman proposed the establishment of a Makhana Board in Bihar to support local producers and enhance the sector. She highlighted the success of the One District One Product initiative and the elevation of the Makhana Research Centre to national status.
Additionally, Sitharaman announced a new urea manufacturing facility in Namrup, Assam, with a capacity of 12.7 lakh metric tons annually, alongside the resumption of three urea plants in the Eastern region to boost fertilizer availability.
11:39 (IST)
Union Budget 2025 Live: Rs 2 Crore Term Loan Scheme for Women, SC, ST Entrepreneurs
Finance Minister Nirmala Sitharaman announced the introduction of a Rs 2-crore term loan scheme for 5 lakh first-time women, SC, and ST entrepreneurs. This initiative is aimed at empowering marginalized communities and fostering entrepreneurship. Additionally, a manufacturing mission will be launched to support both SME and large industries, alongside measures to enhance productivity in labour-intensive sectors.
The credit guarantee cover will be increased to Rs 20 crore, with the guarantee fee reduced to 1%. Furthermore, Sitharaman reiterated the establishment of the National Institute of Food Technology, Entrepreneurship, and Management in Bihar to boost food processing and entrepreneurship in the region.
11:37 (IST)
Union Budget 2025 Live: National Institute of Food Technology, Entrepreneurship and Management to Be Established in Bihar
Finance Minister Nirmala Sitharaman announced that the government will set up the National Institute of Food Technology, Entrepreneurship and Management in Bihar. This initiative aims to provide a significant boost to food processing activities across the entire Eastern region. It is expected to raise farmers' incomes by adding value to their produce, while also offering skilling, entrepreneurship, and employment opportunities for the youth.
11:36 (IST)
India Budget 2025 Live: Boost for Fast-Growing AIF Industry
Crisil views the additional budgetary allocation of ₹10,000 crore as a significant boost for the fast-growing AIF (Alternative Investment Fund) industry. This move is expected to encourage more domestic institutional fund flows into the sector, further fueling its growth.
11:34 (IST)
Union Budget 2025 Live: Key Announcements on Education, Healthcare, and Skilling
75,000 new UG medical seats will be created over the next five years.
Five national centres for skilling will be set up with global expertise under the "Make for India, Make for the World" initiative.
Cancer day care centres will be established in all district hospitals.
68 lakh street vendors have benefited from the PM Swanidhi Scheme.
11:32 (IST)
Union Budget 2025 Live: FM Sitharaman on Viksit Bharat Initiative
Finance Minister Nirmala Sitharaman outlined the key goals of the Viksit Bharat initiative, which includes:
Zero Poverty
100% Quality, Good School Education
Access to Quality, Affordable & Comprehensive Healthcare
100% Skilled Labour with Meaningful Employment
70% Women in Economic Activities
Farmers Making India the Food Basket of the World
11:26 (IST)
Union Budget 2025 Live: FM Sitharaman Highlights Five Key Priorities
Finance Minister Nirmala Sitharaman emphasized that the 2025 Budget focuses on the following five key priorities:
Accelerating Growth
Inclusive Development
Private Sector Investments
Uplifting Household Sentiments
Enhancing the Spending Power of India's Rising Middle-Class
11:24 (IST)
Budget 2025 Live: New Classification Criteria for MSMEs
The Finance Minister announced significant changes to the classification criteria for MSMEs. The investment limit for MSME classification will be increased by 2.5 times, while the turnover limits will be doubled. These measures aim to support the growth and expansion of small and medium enterprises across the country.
New Classification Criteria:
Investment limit for MSMEs will be increased by 2.5 times.
Turnover limits for MSMEs will be doubled.
Easier Access to Loans:
Credit guarantee cover for MSMEs will be significantly enhanced.
Customized credit cards for micro enterprises will be introduced.
11:23 (IST)
Budget 2025 Live: Scheme to Position India as a Global Hub for Toys
Finance Minister Nirmala Sitharaman outlined a new initiative to boost the toys sector, stating, "Building on the national action plan, we will implement a scheme to make India a global hub for toys." The scheme will focus on developing clusters, enhancing skills, and strengthening the manufacturing ecosystem to produce high-quality toys, fostering significant economic growth in the sector.
11:22 (IST)
Budget 2025 Live: PM Dhan Dhaanya Krishi Yojana to Boost Agricultural Productivity
Finance Minister Nirmala Sitharaman announced the launch of the PM Dhan Dhaanya Krishi Yojana, a new agricultural development program in collaboration with state governments. The initiative will focus on 100 districts with low productivity, moderate crop intensity, and below-average credit parameters. By converging existing schemes with specialized measures, the program aims to significantly enhance agricultural productivity in these regions.
11:20 (IST)
Union Budget 2025 Live: Govt to Introduce Framework for Sustainable Fisheries
India, ranked as the second-largest producer of fish globally, is set to benefit from a new government initiative. The Finance Minister announced that the government will introduce an enabling framework to sustainably harness fisheries from India's exclusive economic zones. This move comes as seafood exports reach an impressive ₹60,000 crore.
11:20 (IST)
Union Budget 2025 Live: FM Sitharaman Focuses on Growth and Inclusive Development
Finance Minister Nirmala Sitharaman affirmed that the Union Budget 2025-26 is designed to sustain economic growth and promote equitable development. In her record 8th Budget presentation, she stated, "Together, we embark on a journey to unlock our potential for greater prosperity."
Highlighting India's position as the fastest-growing economy among developing nations, the finance minister emphasized, "The next five years present a unique opportunity to stimulate growth."
11:16 (IST)
Union Budget 2025 Live: FM Sitharaman Outlines 6 Key Focus Areas for Reform
Finance Minister Nirmala Sitharaman highlighted that the Union Budget will focus on initiating reforms across six key domains: taxation, urban development, mining, financial sector, power, and regulatory reforms.
11:15 (IST):
Budget 2025 Live: 'Education Focus Key to Empowering the Youth'
In her opening remarks, the Finance Minister emphasized that education and meaningful employment will be central to the government's vision. Jaideep Kewalramani, COO and Head of Employability Business at TeamLease Edtech, highlighted that this focus is essential for meeting the aspirations of India's youth.
11:15 (IST):
Union Budget 2025 Live: 6-Year Mission for Aatmanirbharta in Pulses with Focus on 'Tuver, Udad, and Masoor Dals'
Finance Minister Nirmala Sitharaman announced a strategic 6-year mission to promote Aatmanirbharta in pulses, with a special focus on 'tuver, udad, and masoor dals.' The government will also launch a National Mission for high-yield seeds to boost domestic production. Additionally, a Makhana Board will be established to enhance the production, processing, and value addition of Makhana, while involving local farmers through Farmer Producer Organizations (FPOs).
Budget 2025 Live: FM Sitharaman Highlights Key Targets of Union Budget
Union Finance Minister Nirmala Sitharaman shared the key objectives of the Union Budget, stating, "The Budget aims to invigorate private sector investments, uplift household sentiments, and bolster the power of India's rising middle class." She further emphasized, "The proposed development measures in this Budget span across 10 broad areas, with a special focus on the poor, youth, farmers, and women."