Budget 2025: Who benefits and who doesn’t
Subscribe to enjoy similar stories. Mint brings you a special edition of Budget 2025, containing key takeaways, how it impacts various sectors, who benefits and who doesn’t, what’s costlier and what’s cheaper, and the big Budget numbers you should know.
Finance minister Nirmala Sitharaman presented the second Budget of Modi 3.0 government in the backdrop of a loudly protesting Opposition. India is facing faltering growth, persistent inflation, depressed wages and capital formation, and slowing consumption.
There are loud calls for decisive policy to boost consumption, create jobs, and preserve India’s status as the fastest growing large economy. How did Budget 2025 fare? The finance minister exempted income up to ₹12 lakh a year from income tax, and lowered tax slabs on higher incomes for individual taxpayers.
She also significantly increased tax exemption limits for senior citizens. Small taxpayers also get more relaxed rules for filing updated tax returns and on the valuation of self-occupied homes Fiscal deficit for FY25 is projected to be 4.8%, slightly better than previous estimates; the FM expects it to fall further to 4.4% But, this year’s tax proposal will lead to a revenue loss of ₹1 trillion in direct tax receipts and ₹2,600 crore in indirect tax receipts Capital expenditure for the fiscal year is lower than previously estimated at ₹10.18 trillion Also Read: Budget 2025 | A ₹1 trillion largesse for India's middle class A central scheme will invest in boosting productivity and credit access for 1.7 crore farmers in most vulnerable districts Several schemes to invest in pulses and oilseeds production, boost production of superfoods like Makhana, and marine exports The focus is squarely on small, marginal farmers
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