Overall, the Budget focuses on providing significant benefits to the middle class by reducing the tax rates and thereby increasing the take home pay for individuals. It is clear that the Budget is aiming to further promote adoption of the new regime.

Lauding the new tax regime, PM Modi said that his government seeks to put more money in the pockets of people, increase savings and make citizens partners in the development journey.

FM Sitharaman donned a Madhubani silk saree as she presented her eighth budget, highlighting Bihar projects. The opposition clashed over Kumbh deaths but fell silent as she announced zero tax on Rs 12L income.

Budget 2025: Finance Minister Nirmala Sitharaman presented the Union Budget 2025 in Parliament today, marking yet another milestone in her notable tenure. The Budget sets a transformative agenda with six key focus areas: taxation, urban development, mining, financial sector, power, and regulatory reforms.

India plans to cut personal income tax rates to boost middle-class spending power, Finance Minister Nirmala Sitharaman said on Saturday, as she announced an annual budget that also sought to increase private investment to strengthen growth.

Sitharaman will present the budget today at 11:00 am. The Parliamentary Budget session kicked off on January 31, 2025. The session is being conducted in two phases: the first part runs from January 31 to February 13, while the second segment is scheduled between March 10 and April 4.