👋 Finance Minister Nirmala Sitharaman has presented the budget for the fiscal year 2025-26.
📅 The fiscal year runs from April 1 to March 31. The budget presentation lasted 1 hour 14 minutes.
💰 The government expects to earn ₹34.96 lakh crores (excluding loans) with an expenditure of ₹50.6 lakh crores.
📉 The fiscal deficit target is set at 4.4%, down from 4.9% last year.
💵 Total income is projected at ₹28.37 lakh crores from taxes, which include direct and indirect taxes.
🏛️ Major expenditures include rural development, home affairs, agriculture, education, and health.
📊 The highest revenue comes from loans, followed by income tax, GST, and corporation tax.
🆕 Under the new tax regime, no income tax is applicable for income up to ₹12 lakh. For salaried individuals, the limit is ₹12.75 lakh due to a standard deduction of ₹75,000.
📈 Tax slabs are as follows:
🌾 New schemes in agriculture include the PM Dhan Dhanya Krishna Yojana targeting 100 low productivity districts to benefit 1.7 crore farmers.
🏭 A National Manufacturing Mission has been announced to boost medium and large industries.
🎓 500 Atal Tinkering Labs will be set up to enhance innovation in schools.
📣 The budget aims to enhance economic growth while managing fiscal responsibility. Feedback and questions are encouraged in the comments!