New Delhi: Finance Minister Nirmala Sitharaman will present the country’s general budget today on February 1, from which every section has many expectations. This budget is coming at a time when the Indian economy is going through a slowdown and the position of the rupee also remains weak. It is believed that the government can make some big announcements, which can provide relief to the general public.
These 10 big decisions can be made in Budget 2025:
Income tax exemption: Under the new tax system, annual income up to Rs 10 lakh can be made tax free.
Change in tax slab: A new tax slab of 25% can be created for those with an annual income of Rs 15 to 20 lakh.
Relief in fuel prices: Reduction in petrol and diesel prices possible, excise duty can be reduced.
Relief for farmers: The amount of PM Kisan Yojana can be increased, while the loan limit on Kisan Credit Card (KCC) can be up to Rs 5 lakh.
Gold may become expensive: Consideration of increasing import duty, which may increase the prices of gold.
Increase in standard deduction: The limit of standard deduction can be increased to provide tax relief to employed people.
Relief to home buyers: Work can be done on a plan to increase the limit of home loan subsidy from Rs 35 lakh to Rs 50 lakh.
Improvement in NPS: New changes may be announced to make the National Pension Scheme (NPS) more attractive.
Relief in health insurance to senior citizens: The limit of health insurance premium for senior citizens can be increased to Rs 1 lakh, while for others this limit can be Rs 50,000.
Expansion of Ayushman Bharat and Atal Pension Yojana: The scope of the health scheme can be increased and the amount of Atal Pension Yojana (APY) can be increased.
All sections are expected to get relief from Budget 2025. It will be interesting to see with which major reforms and announcements the government lives up to the expectations of the public.
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