Sun Feb 02 06:21:55 UTC 2025: ## India Aims for Fiscal Prudence: Budget 2025 Highlights Debt Reduction and Key Benefits

**New Delhi, [Date]** – India’s Union Budget 2025 unveiled a commitment to fiscal responsibility, aiming to reduce the country’s debt-to-GDP ratio to 51% by fiscal year 2030-31. The current fiscal year’s ratio is projected at 57.1%. This commitment aligns with the Fiscal Responsibility and Budget Management (FRBM) Act.

The budget also included several key initiatives:

* **Increased Medical College Seats:** Punjab’s government medical colleges will see a significant boost in student capacity, with the number of seats increased to 275.
* **Middle Class, Youth, and Farmers Benefit:** The budget offered various benefits for the middle class, youth, and farmers, details of which are available in a separate 10-point summary. Specific initiatives for farmers included new or enhanced schemes aimed at boosting agricultural income and providing access to further support.
* **Income Tax Relief:** Approximately 1.5 lakh taxpayers in Himachal Pradesh received significant relief through income tax reductions, addressing a long-standing demand.

The budget’s focus on fiscal consolidation and targeted benefits across various sectors marks a significant step in India’s economic planning for the coming years. Further details on specific budgetary allocations and schemes are expected to be released in the coming days.

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