India Budget 2025 Live Updates: Finance Minister Nirmala Sitharaman presented the Union Budget for the eighth consecutive time in the Lok Sabha on Saturday. Before she began her speech, the Cabinet, headed by Prime Minister Narendra Modi, had approved the budget.
Tabling the budget, Nirmala Sitharaman announced big changes to the income tax slabs and rates across the board, saying that the government has hiked the Income Tax exemption limit to Rs 12 lakh per annum under the New Tax Regime. She also said that income taxpayers with an annual income of Rs 12 lakh will get a benefit of Rs 80,000.
The announcement came as this year’s budget 2025 was expected to focus on tax reforms, housing benefits, incentives for the automobile sector, healthcare advancements, and fintech growth.
Nirmala Sitharaman also announced the extension of the time limit for filing updated returns for any assessment year.
Earlier today, Sitharaman, draped in an off-white handloom silk saree with fish-themed embroidery and a golden border, was clicked with several other officials. With the tablet securely placed inside a red cover featuring a golden national emblem, she met President Droupadi Murmu at Rashtrapati Bhawan.
ALSO READ | Union Budget 2025 Explained
