THE HEADLINES:
• Prime Minister Narendra Modi hails Union Budget 2025 as a game-changer for country’s progress and journey towards Viksit Bharat.
• Finance Minister Nirmala Sitharaman presents first full-fledged Budget of the third term of NDA Government; Says, Union Budget’s focus is on agriculture, rural prosperity, urban development and reforms.
• Budget proposes no tax on income up to 12 lakh rupees; New Tax slabs introduced.
• Information and Broadcasting Minister Ashwini Vaishnaw says, the Budget has growth, inclusion and innovation at its core, from farmers to fintech, MSMEs to AI.
• Prime Minister Dhan-Dhaanya Krishi Yojana to be introduced in select 100 districts to enhance agricultural productivity and crop diversification.
• National Manufacturing Mission to be set up to boost Make in India initiative.
• 36 additional lifesaving drugs and medicines to be fully exempted from Customs Duty.
• Industry leaders welcome the Budget; Appreciate reforms to boost consumption.
• And in Hockey India League, title clash underway between Hyderabad Toofans and Shrachi Rarh Bengal Tigers in Rourkela.
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Prime Minister Narendra Modi has hailed the Union Budget 2025 as a game-changer for India’s progress, emphasizing its role in accelerating the country’s journey towards Viksit Bharat. In his post budget message, Mr. Modi said, Union Budget paves the way for innovation, entrepreneurship, and sustainable growth across multiple sectors, including AI, toy manufacturing, agriculture, footwear, food processing, and the gig economy. The Prime Minister said that the union budget reflects the government’s commitment to fulfilling the aspirations of every Indian.
Mr Modi also said that the budget will greatly benefits the middle class of the country as the income upto 12 lakh rupees has been exempted. He said, it will empower the agriculture sector to give boost to rural economy.
The Prime Minister said that it focuses on manufacturing to empower entrepreneurs, MSMEs and small businesses.
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Finance Minister Nirmala Sitharaman today said that the Union Budget focuses on agriculture, rural prosperity, urban development, and continues to lay emphasis on reforms. Addressing media in New Delhi this afternoon, the Finance Minister said that the Budget says several things about India’s path towards Viksit Bharat.
The Finance Minister added that six specified reforms have been identified in which government will continue its reform agenda. Ms Sitharaman said interests of health and education have been prioritised in the Budget.
The Finance Minister highlighted that responding to the voice of the people, income tax simplification announced last July is already completed in its works. She said the new income tax bill in this regard will be introduced in Parliament next week. Ms Sitharaman said one crore more people will benefit due to the increased tax exemption limit from 7 lakh to 12 lakh rupees.
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Information and Broadcasting Minister Ashwini Vaishnaw today said that the Union Budget 2025 has laid the roadmap for Viksit Bharat. Talking to media, Mr Vaishnaw said that it has growth, inclusion and innovation at its core, from farmers to fintech, MSMEs to AI.
On budget allocation for Electronics and IT, the Minister said announcement regarding components is a major announcement.
Mr Vaishnaw, who also holds the charge of Railway Ministry said the capital expenditure for railways is huge, with a Gross Budgetary Support of over 2.52 lakh crores.
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Defence Minister Rajnath Singh has said that the Union Budget has taken an all inclusive approach from empowering all sections of the society. Talking to media, Mr Singh said that Prime Minister Narendra Modi’s vision of making India self-reliant in defence has further got a big boost in this budget. He added that 6.81 lakh crore rupees have been allocated for the Ministry of Defence for 2025-26.
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Finance Minister Nirmala Sitharaman today presented the first full-fledged Budget of third term of NDA Government. Presenting the budget in Lok Sabha the finance minister announced that the Nil Tax Slab is now extended upto 12 lakh rupees income. The Finance Minister also said that adding the standard deduction of 75 thousand rupees for salaried class, the income of 12 lakh 75 thousand per annum will not be taxed. Ms. Sitharaman also introduced new Income-Tax slabs in new regime of taxation.
The limit for tax deduction on interest for senior citizens has been doubled from 50 thousand to one lakh.
“The Finance Minister announced that Prime Minister Dhan-Dhaanya Krishi Yojana will be introduced in select 100 districts to enhance agricultural productivity and crop diversification. The loan limit under the Modified Interest Subvention Scheme will be enhanced from 3 lakh to 5 lakh rupees for loans taken through the Kisan Credit Card. Ms. Sitharaman also announced that a new scheme will be launched for 5 lakh women, Scheduled Castes and Scheduled Tribes first-time entrepreneurs. This will provide term loans up to 2 crore rupees during the next 5 years. Ms. Sitharaman said that to enhance the productivity, quality and competitiveness of India’s footwear and leather sector, a focus product scheme will be implemented. Mrs Sitharaman declared that gig workers of online platforms will be provided healthcare under PM Jan Arogya Yojana, they will also be registered on the e-Shram portal and provided identity cards. The Finance Minister also announced setting up of a Centre of Excellence in Artificial Intelligence for education with a total outlay of 500 crore rupees. Ms Sitharaman also mentioned that a Deep Tech Fund of Funds will also be explored to catalyze the next generation start-ups. National Manufacturing Mission will be set up to boost Make in India initiative. The Finance Minister announced new Greenfield airports for Bihar. 36 additional lifesaving drugs and medicines will be fully exempted from Basic Customs Duty. Fiscal Deficit in next Fiscal Year has been estimated at 4.4 percent. The Finance Minister further announced that the FDI limit for the insurance sector will be raised from 74 to 100 per cent. Renuka desk report Akashvani News.”
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Industry leaders have welcomed the budget appreciating the steps taken to boost consumption. Chairman of Confederation of Indian Industry CII Task Force on Insolvency and Bankruptcy Shardul Shroff said, the biggest benefit in this particular Budget is the exclusion of the middle class from personal taxation, almost completely.
Sahitya Chaturvedi, Secretary General of the Indian Business and Professional Council, Dubai, said, the government’s focus on agriculture, SMEs, and middle-class consumers is commendable.
Gems and jewellery industry has welcomed the government’s move to reduce the basic customs duty on platinum findings and slashing of jewellery duty in the Union Budget.
Talking to Akashvani News, People appreciated the Union Budget:
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Several opposition leaders have criticized the government, saying the budget has nothing for the middle class and the youth of the country.
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In Chhattisgarh, eight Maoists have been killed in an encounter with security forces in Bijapur district today. The bodies of killed Maoists have been recovered.
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Eight AAP MLAs joined BJP in the presence of Delhi BJP chief Virendra Sachdeva today. They are Vandana Gaur, Rohit Mehraulia, Girish Soni, Madan Lal, Rajesh Rishi, BS Joon, Naresh Yadav and Pawan Sharma. They had resigned from AAP yesterday. All the eight MLAs were denied tickets by AAP for Delhi assembly elections this time.
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In Hockey India League, the title clash is underway between Hyderabad Toofans and Shrachi Rarh Bengal Tigers at Birsa Munda Hockey Stadium in Rourkela.
Toofans have scored the first goal through striker Gonzalo Peillat in the first quarter, when reports last came in.
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THE HEADLINES ONCE AGAIN.
• Prime Minister Narendra Modi hails Union Budget 2025 as a game-changer for country’s progress and journey towards Viksit Bharat.
• Finance Minister Nirmala Sitharaman presents first full-fledged Budget of the third term of NDA Government; Says, Union Budget’s focus is on agriculture, rural prosperity, urban development and reforms.
• Budget proposes no tax on income up to 12 lakh rupees; New Tax slabs introduced.
• Information and Broadcasting Minister Ashwini Vaishnaw says, the Budget has growth, inclusion and innovation at its core, from farmers to fintech, MSMEs to AI.
• Prime Minister Dhan-Dhaanya Krishi Yojana to be introduced in select 100 districts to enhance agricultural productivity and crop diversification.
• National Manufacturing Mission to be set up to boost Make in India initiative.
• 36 additional lifesaving drugs and medicines to be fully exempted from Customs Duty.
• Industry leaders welcome the Budget; Appreciate reforms to boost consumption.
• And in Hockey India League, title clash underway between Hyderabad Toofans and Shrachi Rarh Bengal Tigers in Rourkela.
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