Highlights of Union Budget 2025
General
👉 1. Kisan Credit Card limit enhanced from Rs. 3 lakh to *Rs. 5 lakh*
👉 2. Additional Infra in 5 IIT’s set up after 2014. IIT Patna to be expanded
👉 3. 10,000 more seats to be added in medical colleges in next year and 75,000 in next five years
👉 4. Rs. 500 Cr. for Centre for Excellence in AI
👉 5. Social Welfare Scheme for GIG workers
👉 6. Extension of Jal Jeevan Mission till 2028
👉 7. Urban Challenge Fund of Rs. 1 lakh crore to be set up
👉 8. Green field airports to be facilitated in Bihar in addition to Patna airport
👉 9. Rs. 20,000 Cr. for Private Sector R&D
👉 10. Top 50 tourist destinations to be developed. Focus on destinations linked to Budha
👉 11. ‘Heal in India’ to be promoted
👉 12. FDI limit for Insurance sector to be raised to 100% if entire premium invested in India
👉 13. Revamped KYC Registry to be rolled out
👉 14. Customs: Rationalize tariff structure
👉 15. 36 life saving drugs exempt from duty & 5% duty on 6 life saving drugs.
Direct and Indirect tax
👉 1. New Income tax Bill Next Week
👉 2. New Income tax Bill to be simple and close to present
👉 3. Personal Income Tax Reforms for Middle class
👉 4. NIL Income tax upto 12,00,000
👉 5. Income Tax slab changed
👉 6. TDS and TCS rationalize
👉 7. Limit for TDS on rent increased from Rs. 2.4 lakh to Rs. 6 lakh
👉 8. Limit for TDS on Senior citizens enhance from Rs. 50,000 to Rs. 1,00,000
👉 9. TCS removed on remittance for education purposes
👉 10. ‘Updated Return’ time limit enhanced to 4 years from present 2 years
~by CA Sachin Nagalia
