Finance Minister Nirmala Sitharaman has announced Budget 2025, bringing significant relief to the middle class. One of the biggest announcements is the increase in the tax-free income limit from ₹7 lakh to ₹12 lakh. This means that individuals earning up to ₹12 lakh annually will not have to pay any income tax. However, beyond tax exemptions, the budget also includes several transformative measures across manufacturing, agriculture, technology, and women entrepreneurship.
10 Major Announcements in Budget 2025
- Boost to Manufacturing Sector: To further the ‘Make in India’ initiative, a new manufacturing mission will be introduced, covering small, medium, and large industries.
- Footwear and Leather Industry: The government will implement targeted policies and facilities to enhance productivity, quality, and competitiveness in India’s footwear and leather sector.
- Toy Industry Development: Based on a National Action Plan, measures will be introduced to establish India as a global hub for toy manufacturing. The focus will be on developing clusters, skilling initiatives, and a strong manufacturing ecosystem, ensuring high-quality, durable, ‘Made in India’ toys.
- Agricultural Reforms: The government announced major benefits for 1.7 crore farmers. Under the Pradhan Mantri Krishi Yojana, a partnership with states will launch an Agricultural District Program, targeting 100 districts with low productivity, moderate crop intensity, and below-average credit access.
- Pradhan Mantri Dhan Dhanya Krishi Yojana: This initiative will cover 100 districts, aiming to diversify crops, increase storage facilities, improve irrigation, and provide both short- and long-term credit support for farmers.
- Bihar-Specific Initiatives: A Makhana Board will be established in Bihar to enhance production and processing. Additionally, a six-year ‘Self-Sufficiency Mission’ for pulses has been launched to boost domestic production.
- Urea Supply Expansion: To strengthen urea supply in Assam, a new plant with an annual capacity of 12.7 lakh metric tons will be established in Namrup. This follows the reopening of three previously inactive urea plants in the eastern region.
- National Food Technology Institute in Bihar: The central government will set up a National Food Technology, Entrepreneurship, and Management Institute in Bihar. Additionally, five national centers of excellence for skill development will be developed in collaboration with global partners.
- IIT Patna Expansion and Digital Connectivity: IIT Patna will see infrastructure expansion, while all secondary schools and primary health centers across the country will be equipped with broadband connectivity.
- Women Entrepreneurship Initiative: A new scheme will be launched to support first-time women entrepreneurs from Scheduled Castes (SC) and Scheduled Tribes (ST), benefiting over five lakh women entrepreneurs.
Conclusion
Budget 2025 outlines a forward-looking roadmap for economic growth, with strategic initiatives aimed at boosting manufacturing, agriculture, education, and digital infrastructure. It also focuses on empowering marginalized communities, enhancing rural productivity, and making India self-sufficient in key sectors. The Modi government’s emphasis on innovation, industry, and inclusive development signals a progressive economic trajectory for the nation.
