Union
Budget 2025: Key Announcements and Major Highlights
 |
| Finance Minister Nirmala Sitharaman presented the Union Budget |
Income Tax Relief: A Major Announcement
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One of the most anticipated aspects of Budget
2025 was income tax relief. The finance minister announced that under the new
tax regime, individuals with an annual income of up to ₹12 lakh will not
be required to pay any income tax. This move is expected to provide relief to
middle-class taxpayers and boost disposable income, thereby driving consumption
and economic growth. Additionally, Sitharaman confirmed that a new and
simplified Income Tax Bill will be introduced next week, aiming to streamline
tax compliance.
Key Sectoral Announcements
MSMEs
and Industrial Growth
·
The
finance minister announced new classification criteria for micro, small, and medium
enterprise enterprises (MSMEs), aiming to ease regulatory burdens and promotes
sectoral growth.
·
A
focused
scheme
has been introduced to promote the footwear and leather industry, which is expected
to generate employment and enhance exports.
Healthcare
and Medical Education
·
A
major boost to the healthcare sector was announced with the addition of 75,000 new medical
seats
over the next five years to address the shortage of medical professionals and
improve healthcare access.
Infrastructure
and Aviation
·
The
government unveiled a modified ‘Udaan’ scheme to enhance regional air connectivity
and support the aviation sector.
·
Infrastructure
projects received a strong push with enhanced budgetary allocations for roads, highways,
and urban development.
Budget Session and Parliamentary
Proceedings
The Budget Session 2025 commenced on January 31, 2025, with President Droupadi
Murmu's
address to both Houses of Parliament. The session is divided into two phases:
·
Phase 1: January 31–February
10–April 13, which includes the Union Budget presentation.
·
Phase 2: March 10 – April 4,
which will focus on discussions and approvals.
Stock Market Reaction
Ahead of the
budget announcement, the stock market opened flat on Saturday in a special trading
session. Investors are closely monitoring the impact of the budgetary measures
on various sectors.
Historic Feat for Nirmala Sitharaman
With this
budget, Nirmala
Sitharaman
has become the first
finance minister to present eight consecutive Union Budgets. However, she does
not hold the record for the highest number of budget presentations.
The Union Budget 2025 is expected to bring
positive momentum to key sectors while providing relief to taxpayers. The
upcoming weeks will determine the overall impact of these announcements as
businesses and individuals analyse the finer details of the proposed policies.
Small Plane Crashes in Philadelphia, Reports Say Six Dead
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| Small Plane Crashes in Philadelphia, Reports Say Six Dead |
The Federal
Aviation Administration (FAA) confirmed two people were aboard the plane, but
reports from BNO News suggest the death toll is higher. The jet was en route to
Springfield, Missouri. Emergency crews responded to the fiery scene as
investigations into the cause continued.
Varanasi
Faces Crowds, Ganga Aarti Closed to Public Until Feb 5
·
Stay Indoors Advisory: Police Commissioner Mohit Agarwal urges
residents to avoid unnecessary travel and support devotees.
·
Ganga Aarti Closed: Public access to Ganga Aarti at Dashashwamedh,
Sheetla, and Assi Ghats is restricted until February 5.
· Devotees
Stranded: Large crowds from Prayagraj Mahakumbh lead to congestion at
Varanasi Cantt and Banaras railway stations, with train cancellations adding to
the issue.
Gandhi Criticizes Lack of Representation in Nirmala Sitharaman's Budget-making Process
Speaking at a rally in Delhi, Rahul Gandhi
accused the budget-making process of being dominated by a select few,
highlighting the absence of Dalits, tribals, backward classes, and minorities.
He pointed out the disproportionate representation of OBC officers and
questioned the fairness of budget allocations.
IND vs ENG 4th T20I: India Wins by
15 Runs, Takes 3-1 Lead in Series
India defeated England by 15 runs in
the 4th T20I at the Maharashtra Cricket Association Stadium in Pune. With this
win, India has secured a 3-1 lead in the five-match series.
Batting first, India scored 181/9 in
20 overs. Hardik Pandya and Shivam Dube played crucial knocks, both scoring
half-centuries. England could only manage 166 runs in response, losing all
wickets despite a strong start. Ravi Bishnoi and Harshit Rana took three
wickets each for India.
For England, Harry Brook scored a
quick 51 runs, while Ben Duckett made 39. Saqib Mahmood was England’s best
bowler, taking three wickets. Earlier in the series, India won the first two
matches, while England won the third. With this win, India has sealed the
series.
PM Modi to Attend AI Action Summit
in France
French President Emmanuel Macron has
invited Prime Minister Narendra Modi to attend the Artificial Intelligence
(AI) Action Summit, and India has accepted the invitation, said MEA
spokesperson Randhir Jaiswal.
The summit will take place on February
10-11 at the Grand Palais in France, bringing together world leaders, tech
experts, and industry representatives.
Jaiswal also mentioned that India is
developing its own AI program and is working with global partners to strengthen
AI technology. Information and Broadcasting Minister Ashwini Vaishnaw announced
that India will soon host open-source AI models like DeepSeek on Indian
servers.
