Sat Feb 01 12:40:00 IST 2025: ## Budget 2025: Tax Reliefs, Loan Increases, and Enhanced Air Connectivity Announced

**New Delhi, [Date]** – Finance Minister Nirmala Sitharaman presented the Union Budget 2025-26 today, focusing on significant relief for salaried individuals, farmers, senior citizens, and small businesses. Key highlights include substantial tax benefits, increased loan limits for farmers, and expansion of air connectivity.

**Tax Reliefs:** The new tax regime offers complete tax exemption for salaried individuals earning up to ₹12.75 lakh annually and non-salaried individuals earning up to ₹12 lakh. Individuals exceeding these limits will be taxed according to the applicable slabs. Capital gains, lottery winnings, and similar income sources are excluded from this exemption. Furthermore, the TDS (Tax Deducted at Source) threshold on rental income has been raised from ₹2.4 lakh to ₹6 lakh annually, benefiting both landlords and tenants. The TDS threshold on interest income for senior citizens has been increased from ₹50,000 to ₹1 lakh annually. The TCS (Tax Collected at Source) threshold on remittances under the Liberalised Remittance Scheme (LRS) has been raised from ₹6 lakh to ₹10 lakh.

**Agricultural Boost:** The government announced a hike in the loan limit for Kisan Credit Cards (KCC) from ₹3 lakh to ₹5 lakh, benefiting 7.7 crore farmers, fishermen, and dairy farmers. This measure aims to provide quicker access to credit for the agricultural sector. Six new schemes were also announced to further support agriculture.

**Improved Air Connectivity:** The UDAN scheme will see the addition of 120 new routes, significantly enhancing air connectivity across the country, with a particular focus on improving connectivity in the North-Eastern region. This is expected to benefit approximately 4 crore new passengers.

The budget’s focus on tax relief and increased credit access is anticipated to stimulate economic activity and provide substantial relief to various segments of the Indian population. Further details on the specifics of the new schemes are awaited.

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