Union Budget News

As a result, total funding for Indian startups fell sharply from $42 billion in 2021 to $25 billion in 2022, and further declined to just $10 billion in 2023. 

To unleash this potential, it is also important to offer financial support and streamline the process of conducting business to bolster the startup community. 

Apart from the tax exemption for the middle class, which will benefit Delhiites like all Indian citizens, many Central schemes may indirectly benefit city voters like slum dwellers and residents of unauthorised colonies.

 In a major relief for taxpayers, Sitharaman announced that individuals earning up to Rs 12 lakh annually will no longer have to pay income tax under the new regime.

The Union Budget 2025 focuses on accelerating economic growth, ensuring inclusive development, supporting industries, and enhancing household sentiment.

Budget New Income Tax 2025-26:  FM said that nil tax slab will apply for annual income up to Rs 12 lakh (Rs 12.75 lakh for salaried tax payers with standard deduction of Rs 75,000) under new tax regime.

The NDA government, over the past decade, has pivoted from the low-hanging fruit of a 'consumption push' to embracing a supply-side reform strategy. 

Budget 2025 Economic Survey Highlights: Finance Minister Nirmala Sitharaman is all set to present the 8th straight Budget tomorrow. Sitharaman's budget for the fiscal year starting April 2023 is her eighth straight since 2019, one being a vote-on-account last year. 

India’s longest budget speeches have been delivered by Finance Minister Nirmala Sitharaman in 2019 where she set her first record with a 2-hour and 17-minute speech. 

The Mahila Samman Savings Scheme is available for a two-year period which allows women to deposit up to Rs 2 lakh. 

According to the survey, about 47 per cent of participants expected the government to meet the fiscal deficit target of 4.9 per cent for FY 2024-25 and another 24 per cent reported that the government could improve and report a lower fiscal deficit number for the current year. 

The industry players in the infrastructure sector -- from construction to real estate, transportation, and urban development -- also emphasised the need for fiscal reforms and policies that would ease the burden on infrastructure projects. 

The Budget documents will be available on the Mobile App after the completion of the Budget Speech by the Finance Minister in Parliament on 1st February, 2025.

Foreign institutional investors (FIIs) sold shares worth Rs 22,504 crore in the cash segment. The FIIs outflows exceeded Rs 69,000 crore so far this month. 

A customary Halwa ceremony is performed every year before the “lock-in” process of Budget preparation begins.

Venkat Nageswar Chalasani, Chief Executive of AMFI, urges the government to prioritize investor confidence in mutual funds by addressing tax concerns.