The Indian Budget 2025, presented by Finance Minister Nirmala Sitharaman on February 1, 2025, introduces several key initiatives across various sectors aimed at stimulating economic growth, enhancing infrastructure, and providing tax relief. Here’s a concise overview of the major announcements:

1. Taxation Reforms 🏦

• Personal Income Tax Relief:To bolster middle-class spending, the budget exempts individuals earning up to ₹1.2 million annually from income tax.
• New Income Tax Bill :A new Income Tax Bill is set to be introduced next week, aiming to simplify the tax structure and promote ease of compliances.

2. Agriculture and Rural Development 🌾

• Dhan Dhanya Yojana This scheme will be launched in 100 districts to enhance agricultural productivity and support farmers.
• Special Mission for PulsesA six-year mission focusing on increasing the production of Tur, Urad, and Masoor dals has been announced.
• Makhana Board in Bihar A dedicated Makhana Board will be established in Bihar to promote the cultivation and marketing of makhana.

3. Infrastructure and Urban Development 🏙️

• *Maritime Development Fund A ₹25,000 crore fund has been proposed to develop the maritime sector, enhancing port infrastructure and connectivity.
• *Urban Development Fund An allocation of ₹1 lakh crore has been announced to boost urban infrastructure and development projects.
• *New Airport in Bihar A new airport will be constructed in Bihar to improve regional connectivity.

4. Industrial and Economic Growth 🏭

• **National Manufacturing Mission: A mission aimed at incentivizing manufacturing and making India a global hub for various industries, including toys and footwear.
• **FDI in Insurance: The Foreign Direct Investment limit in the insurance sector will be increased from 74% to 100% to attract more investments.

5. Education and Skill Development 🎓

• *New IIT: The establishment of more Indian Institutes of Technology (IITs) has been proposed to enhance higher education quality.
• *Medical Education Expansion: An additional 75,000 medical seats will be created over the next five years to address the shortage of healthcare professionals.

6. Health and Social Welfare 🏥

• Life-Saving Dru: Customs duties on 36 life-saving drugs have been fully exempted to make healthcare more affordables.
• Health Insurance for Worked: A health insurance scheme targeting small workers has been introduced to provide them with essential health coverage.

7. Financial Sector Reforms 💳

• UPI-Linked Credit Cd: A UPI-linked credit card with a limit of ₹30,000 will be introduced for small vendors to facilitate digital transactions.
• Revamped KYC Procs: A revamped Know Your Customer (KYC) registry will be rolled out in 2025 to simplify the compliance process for financial transactions.

8. Fiscal Management 📊

• Fiscal Deficit Reducon: The fiscal deficit is targeted to be reduced to 4.4% of GDP, down from 4.8% in the previous year, indicating a commitment to fiscal prudence.

These initiatives reflect the government’s focus on stimulating economic growth, enhancing infrastructure, providing tax relief, and promoting inclusive development across various sectors.

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