Sun Feb 02 22:42:21 IST 2025: ## India’s Budget 2025: Tax Relief, Farmer Support, and Healthcare Boost

**New Delhi, February 1, 2024** – Finance Minister Nirmala Sitharaman presented the Union Budget 2025-26 today, announcing significant measures aimed at boosting the economy and benefiting various segments of the population. A key highlight is the tax relief for individuals earning up to ₹12 lakh annually, who will now be exempt from income tax.

The budget also prioritizes support for farmers. The interest subvention scheme for Kisan Credit Cards (KCC) has been increased from ₹3 lakh to ₹5 lakh. Furthermore, the government launched the “Pradhan Mantri Dhan Dhanaya Krishi Yojana,” a new initiative targeting 100 low-yield districts to improve agricultural output and access to credit, benefiting an estimated 1.7 crore farmers.

Significant investments were also announced in the healthcare sector. The government plans to establish daycare cancer centers in all district hospitals over the next three years, with 200 centers slated for launch in the current fiscal year. Gig workers will also gain access to healthcare benefits under the PM Jan Arogya Yojana (PM-JAY). An additional 10,000 medical seats will be added to colleges and hospitals next year, contributing towards the goal of adding 75,000 seats in the next five years.

Other key announcements include:

* A new Income Tax bill will be introduced next week, incorporating a “trust first, verify later” approach.
* Foreign Direct Investment (FDI) in the insurance sector will be increased from 74% to 100%.
* Initiatives to establish India as a global toy hub.
* The creation of a Makhana board to boost income for people in Bihar.

This budget, Sitharaman’s eighth, was presented digitally, continuing a trend started during the COVID-19 pandemic. It marks the 14th budget presented under the Narendra Modi government since 2014, including two interim budgets. The budget details are expected to be scrutinized closely by economists and the public for its impact on the Indian economy.

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