हिंदी में पढ़ने के लिए मेनू बार से हिंदी भाषा चयन करें।
The general budget is a financial document presented by the Government of India in Parliament on February 1 every year. Its purpose is to account for the country’s revenue and expenditure and set the economic direction for the next financial year. The general budget has a profound impact on all sectors, including the general public, traders, and industrialists. The 2025 budget, presented by Finance Minister Nirmala Sitharaman, included several major announcements. Let’s discuss each aspect of this budget in detail.
Importance of the General Budget
The general budget reflects the government’s economic policies. Through it, the government allocates funds to various sectors such as agriculture, industry, education, health, and infrastructure. It also announces changes in tax policies, the launch of new schemes, and modifications to existing schemes. This helps drive economic growth, job creation, and social welfare.
Key Announcements of the 2025 Budget
On February 1, 2025, Finance Minister Nirmala Sitharaman presented the Union Budget for the financial year 2025-26. Several significant announcements were made that will impact various sectors.
1. Income Tax Relief
To provide relief to the middle class, the government increased the minimum income tax exemption limit to ₹12 lakh per annum. Additionally, tax slabs and rates have been revised, allowing taxpayers to retain more money, which will boost consumption.
2. Agricultural Reforms
To increase agricultural production, special missions for pulses and cotton were announced. Additionally, the credit limit under the Kisan Credit Card has been increased to ₹5 lakh to provide affordable loans to farmers.
3. Boost to the Manufacturing Sector
A National Manufacturing Mission will be established to encourage investment in the manufacturing sector. The FDI limit in the insurance sector has been raised to 100%, attracting more foreign investors.
4. Support for Startups and Small Industries
Special incentives and funds have been announced to promote startups and small industries. This will encourage innovation and entrepreneurship and create new employment opportunities.
5. Infrastructure Development
The government has announced plans to connect 120 new destinations under the UDAN scheme to enhance regional air connectivity. This will lead to the development of regional airports and make air travel more accessible.
6. Import Duty Exemptions on Critical Minerals
The government has removed import duties on waste and scrap of essential minerals such as antimony, cobalt, tungsten, copper, lithium-ion batteries, lead, zinc, and cobalt powder. This will ensure the availability of necessary raw materials for domestic manufacturing.
7. Investment in the Education Sector
The government announced an increase in the number of seats in IITs and medical colleges. New institutions for artificial intelligence and entrepreneurship will be established, providing students with modern education and skill development opportunities.
What Became Cheaper and More Expensive
Cheaper Items
- Mobile Phones and Chargers: Custom duties on mobile phones and their chargers have been reduced, making them cheaper.
- Textiles: Financial support and tariff reductions for the textile and garment industry may reduce clothing prices.
- Cancer Medicines: Import duties on certain cancer medicines have been waived, providing financial relief to patients.
- Domestic Electronic Goods: Import duties on components for TVs, smartphones, refrigerators, washing machines, and ACs have been reduced, likely lowering their prices.
Expensive Items
- Gold and Silver: The import duty on gold and silver has been increased, potentially raising their prices.
- Tobacco Products: Excise duty on tobacco and related products has been increased, making cigarettes, bidis, and other tobacco products more expensive.
- Foreign Electronic Equipment: Import duties on some high-tech foreign electronic equipment have been increased, likely raising their prices.
These tax changes aim to encourage domestic industries, promote health awareness, and increase revenue collection. However, they will directly impact consumers’ pockets, making it essential for people to plan their expenses accordingly.
Key Highlights
1. Boost to Digital India
The government has increased investments in digital services to promote the spread and use of digital technology. Internet connectivity in rural areas will be strengthened.
2. Improvements in the Health Sector
Custom duties on medicines for serious diseases like cancer have been reduced, providing relief to patients. Additionally, the scope of the Ayushman Bharat scheme has been expanded.
3. Employment Creation Measures
The government announced increased investments in the manufacturing and infrastructure sectors, which are expected to create more employment opportunities.
4. Green Energy and Environmental Protection
Special provisions have been made for solar and wind energy to promote renewable energy sources. Subsidies for purchasing electric vehicles have also been increased.
5. Rural Development
Special allocations have been made in the budget to improve basic amenities such as roads, electricity, and water in rural areas.
Beneficial Sectors
- Manufacturing:
Import duties have been reduced to promote domestic industries. - Green Energy:
Special incentives have been given to the solar and EV sectors, emphasizing renewable energy sources. - Health:
Improvements in cancer medicines and health facilities will benefit this sector. - Technology:
The IT and internet sectors will benefit under the Digital India initiative.
Conclusion
The general budget for 2025 attempts to balance various aspects of the Indian economy. The government has provided tax reliefs and exemptions to promote Digital India, healthcare, and domestic production, making mobile phones, cancer medicines, and domestic electronic goods cheaper. On the other hand, to increase revenue collection and promote health awareness, tobacco products, gold and silver, and foreign equipment have become more expensive.
This budget appears to be a strong step toward making Indian industries self-reliant. However, consumers must balance their financial plans with these changes. Overall, the budget aims for an inclusive and self-reliant India.
