Union Budget 2025 updates: Finance Minister Nirmala Sitharaman is presenting a record eight consecutive budget. Which is expected to contain measures that ease the burden on the middle class struggling with high prices and stagnant wage growth while being fiscally prudent.
As per the Economic Survey tabled on Friday, the Indian economy is expected grow at 6.3-6.8 percent in 2025-26. While India will need structural reforms and deregulation to reinforce medium term growth potential, investment activity is expected to pick up.
During the Budget Session, sixteen bills, including the Finance Bill 2025, amendments to the Waqf and Banking Regulations Act. And the merging of the Indian Railways and Indian Railways Board Acts, will be tabled.
Budget 2025: Giant Relief for Middle Class.
Ms Sitharaman also announced revision to the tax slabs (again, applicable to the new regime only). Introducing a new 25 per cent rate for income between Rs 20 and Rs 24 lakh.
There will be no income tax payable up to Rs 12 lakh- i.e., up to RS 12.75 lakh including standard deductions. Under the new regime, Union Finance Minister Nirmala Sitharaman said Saturday as she read out the Union Budget2025.
In an announcement accompanied by loud cheers and enthusiastic thumping of desks by BJP MPs, led by Prime Minister Narendra Modi. She also announced revision to the tax slabs . All of this, Ms Sitharaman said. Will “substantially reduce tax burden on middle class and leave more money in their hands”. It will also boost household consumption, savings, and investment, she said.
In Budget 2025, Finance Minister Nirmala Sitharaman announced no Income Tax payable up to Rs 12 lakh. Under the new regime, offering significant relief to the middle class. The new tax slab include 5% on Rs 4-8 lakh, and progressively higher rates for higher income brackets.
