Key Announcements from Budget 2025-26

The Union Budget 2025-26 has introduced several significant reforms aimed at benefiting taxpayers, businesses, and rural development. Here are the key highlights:

1. Tax Relief for Middle-Class Taxpayers
•    Individuals earning up to ₹12 lakh annually will not have to pay any income tax.
•    This measure will directly benefit over one crore taxpayers and boost disposable income.
2. New Tax Legislation
•    A new Tax Reform Bill will be introduced in the next parliamentary session to simplify the tax structure.
3. Expansion of Kisan Credit Card (KCC)
•    The loan limit under the Kisan Credit Card scheme has been increased from ₹3 lakh to ₹5 lakh, helping farmers access more credit.
4. Establishment of Five Global Skill Centers
•    Five world-class skill development centers will be set up to promote employment and international workforce participation.
5. Financial Support for Disaster-Affected Regions
•    50 affected districts will receive ₹1.5 lakh crore in interest-free loans to support rebuilding and infrastructure.
6. Expansion of Udaan Scheme
•    The Udaan scheme will be expanded to 120 new locations, aiming to connect 4 crore more passengers to regional air travel.
7. Simplification of Legal Framework
•    The government will repeal 100 outdated laws under Jan Vishwas 2.0, improving ease of doing business.
8. Energy and Power Development
•    The government aims to produce at least 100 gigawatts of nuclear power by 2047, ensuring long-term energy security.
9. No Tax on Multiple Properties
•    Homeowners will no longer have to pay tax on rental income from multiple properties, a relief from the previous one-property exemption rule.
10. Changes in TDS Regulations
•    Late TDS payments will no longer be considered a criminal offense if the required details are submitted by the due date.
11. Boost to MSMEs (Micro, Small, and Medium Enterprises)
•    The turnover limit for MSMEs has been increased by 2.5 times, enabling more businesses to qualify for benefits and expand operations.
•    The initiative is expected to increase employment opportunities.

Subject                           2023-24 Actual    2024-25 Estimate    2024-25 Revised Estimate    2025-26 Budget Estimate

1. Revenue Receipts     27,29,036    31,29,200    30,87,960    34,20,409
2. Tax Revenue             23,27,251    25,83,499    25,56,960    28,37,409
3. Non-Tax Revenue     4,01,785    5,45,701    5,31,000    5,83,000
4. Capital Receipts       17,14,411    16,91,312    16,28,527    16,44,936
5. Loan Recovery        26,646    28,000    26,000    29,000
6. Other Receipts        33,122    50,000    33,000    47,000
7. Borrowings & Other Liabilities    16,54,643    16,13,312    15,69,527    15,68,936
8. Total Receipts (1+4)    44,43,447    48,20,512    47,16,487    50,65,345
9. Total Expenditure (10+13)    44,43,447    48,20,512    47,16,487    50,65,345
10. Revenue Expenditure    34,94,252    37,09,401    36,98,058    39,44,255
11. Interest Payments    10,63,872    11,62,940    11,37,940    12,76,338
12. Assistance Grants for Capital Assets    3,03,916    3,90,778    2,99,891    4,27,192
13. Capital Expenditure    9,49,195    11,11,111    10,18,429    11,21,090
14. Revenue Deficit (10-1)    7,65,216    5,80,201    6,10,098    5,23,846
15. Effective Revenue Deficit (14-12)    4,61,300    1,89,423    3,10,207    96,654
16. Fiscal Deficit [9-(1+5+6)]    16,54,643    16,13,312    15,69,527    15,68,936
17. Primary Deficit (16-11)    5,90,771    4,50,372    4,31,587    2,92,598