Budget 2025: Finance Minister Nirmala Sitharaman will present the Union Budget in Parliament at 11 am today and this will be the eighth consecutive budget speech of her tenure. Everyone from common man to the elite has high hopes from this.
Budget 2025: Today the country’s general budget is going to be presented and Finance Minister Nirmala Sitharaman is going to present the eighth consecutive budget. The Budget 2025 document will be tabled in Parliament at 11 am. Before the start of the budget session on Friday, Prime Minister Narendra Modi has said in his address that this will be a historic budget. On the other hand, there are high expectations from it from common people to the elite. Let us know in 10 points the 10 big expectations from taxpayers to farmers…
First- possible relief in income tax
Taxpayers have the biggest expectations from Budget 2025 and if reports are to be believed, Finance Minister Nirmala Sitharaman may announce tax free annual income up to Rs 10 lakh under the new tax regime in her budget speech. Apart from this, there is a plan to introduce a new 25% tax slab for annual income between Rs 15 lakh and Rs 20 lakh.
Second- increase in standard deduction
The government can once again change the limit of standard deduction. Last time it was increased under the new tax system. Currently, salaried employees and pensioners avail standard deduction of ₹ 50,000 under the old tax system and ₹ 75,000 under the new system. Experts say that it can be increased to Rs 1 lakh.
Third – Increasing the deduction limit of section 80C
There is also a discussion that this time the deduction limit under section 80C can also be increased. At present, the maximum limit of deduction under section 80C is ₹ 1.5 lakh. However, due to inflation and increasing financial pressure on taxpayers, experts are demanding the government to increase this limit further. It can be increased to at least Rs 2 lakh annually.
Fourth- Elderly people can get relief here
There can be some big announcements for senior citizens in Budget 2025 as well. Reports are estimating that the limit of health insurance premium for senior citizens can be increased to Rs 1 lakh. At the same time, the limit of health insurance premium for other people can be increased to Rs 50,000. Apart from this, an announcement can be made by the Finance Minister on the demand for giving concession to the elderly in railways.
Fifth- Expansion of schemes related to women
The government had allocated Rs 3 lakh crore for women empowerment in the budget of 2024-2025. With this budget, women hope that the government can increase this amount. Apart from this, the time limit of schemes like Mahila Samman Saving Certificate run for women can be extended. Let us tell you that this scheme is going to end on 31 March 2025.
Sixth- Increase in the amount of PM Kisan
The government is expected to increase the amount received under the PM Kisan Yojna being run for farmers. According to the Bofa report, the government can give a gift to the farmers in this budget. At present, under this scheme, Rs 6,000 is given to the farmers in three installments.
Seventh- Kisan Credit Card
Another big announcement for farmers can be made in Budget 2025 and it is expected that the loan limit on Kisan Credit Card (KCC) can be increased to Rs 5 lakh. At present, the limit under this government scheme is Rs 3 lakh.
This expectation including NPS-APY
Apart from this, the eighth expectation from the government is in the form of change in NPS Scheme, ninth is to increase the limit of health insurance premium for senior citizens and tenth is to increase the benefits of Atal Pension Scheme (APY Scheme).
