While public capex has been retained at its elevated level, it appears that the finance ministry believes that without a more direct push to household demand, growth will subside to unacceptable level
FM announced significant income tax cuts for the middle class and unveiled a blueprint for next generation
The minister had previously announced in July last year that a comprehensive review of the Income Tax Act of 1961 would be completed within six months
The projects for Bihar in Budget 2025-26 add to the Rs 59,000 cr that the FM allocated to the state in July
The land for building key infrastructure in these destinations will be provided by states
It is unclear at the moment what portions of this year's capital budget the three services will receive, because the breakup is no longer separately marked in public documents
The Budget announced a new Fund of Funds (FoF) with an expanded scope of Rs 10,000 crore
Taxpayers can now file updated returns for four years instead of the previous two
Old tax system remains unchanged
The Budget proposed setting up a high-level committee for regulatory reforms to review all non-financial sector regulations, certifications, licences, and permissions
After a comprehensive review of the customs rate structure, the government has decided to remove seven tariff rates
Tax concessions extended till 2030; sops for relocation of MFs, ETFs, boost ODI issuance
The Finance Minister has also been cognizant of the need to undertake regulatory reforms that are needed to ensure that the economy does not get bogged down and steams ahead
The announcement of the mission was welcomed by the geospatial industry that said it would be crucial for building smarter cities, with data-driven insights
The objective is to strengthen trust-based economic governance and take transformational measures to enhance ease of doing business, especially in matters of inspections and compliances
Currently, over 1 crore registered MSMEs, employing 7.5 crore people and generating 36 per cent of our manufacturing, have come together to position India as a global manufacturing hub
Given the importance of logistics, mobility and tourism for the economy, the government has further announced 120 new destinations under the UDAN scheme and 50 new tourist destinations
Annual limit of Rs 2.4 lakh for TDS on rent increased to Rs 6 lakh
Eligible start-ups can avail complete deduction of profit and gains for three consecutive years out of 10 years, beginning from the year of incorporation
The government had set a Budget Estimate (BE) for capex at Rs 11.11 trillion for FY25, against which it is expected to miss the target by Rs 93,000 crore