Sat Feb 01 17:52:24 UTC 2025: ## Union Budget 2025: Middle Class Tax Relief and Increased Sports Funding Headline Announcements

**New Delhi, India** – Finance Minister Nirmala Sitharaman presented the Union Budget 2025 today, sparking mixed reactions. The budget includes significant tax relief for the middle class, eliminating taxes on incomes up to ₹12 lakh. This measure has been widely welcomed.

Further key highlights include a substantial increase in sports funding, a boost to the defense budget, and initiatives to develop India into a global toy manufacturing hub, challenging China’s dominance. The government also announced plans for the development of several Buddhist pilgrimage sites, including Bodh Gaya. Specific details regarding the defense budget increase and allocations for infrastructure projects were not immediately available.

However, the budget’s reception has been far from unanimous. Congress leader Rahul Gandhi criticized the budget, calling it “a band-aid on a gunshot wound,” while other opposition figures echoed similar sentiments. The stock market reacted negatively to the announcements, with the Sensex and Nifty closing lower.

The budget also introduced several measures aimed at simplifying income tax procedures and streamlining tariffs. Furthermore, farmers will benefit from six new schemes introduced as part of the agricultural budget. There is a proposed expansion in housing benefits for those owning multiple properties.

The full speech of the Finance Minister is available online. Further analysis of the budget’s impact on various sectors is expected in the coming days. The government has outlined a commitment to long-term economic growth and development.

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