UNION BUDGET 2025 : REMARKABLE CHANGE IN INCOME TAX.NO INCOME TAX FOR 12 LAKHS EARNING.

Union Budget 2025 presented by Union Finance Minister Smt. Nirmala Sitharaman:
**Union Budget 2025 Highlights**
Union Finance Minister Smt. Nirmala Sitharaman presented the Union Budget 2025-26 on February 1, 2025.This marks her eighth consecutive budget presentation.The budget focuses on transformative reforms across six key areas: taxation, financial sector, power sector, urban development, mining, and regulatory reforms.

Key highlights include:
- **Income Tax Reforms**: Introduction of a new Income Tax bill promoting the "trust first, scrutinize later" concept.Rebate for resident individuals under the new regime if their total income is up to ₹12,00,000.
- **Fiscal Deficit**: Targeted at 4.4% of GDP, down from 4.8% in the previous year.
- **Urban Development**: Creation of a ₹1 lakh crore Urban Challenge Fund to transform cities into growth hubs.
- **Nuclear Energy Mission**: Aim to develop at least 100 GW of nuclear power by 2047.
- **MSME Support**: Customized credit cards for MSMEs, expanded fund-of-funds, and increased investment and turnover limits.
- **Agriculture**: Launch of the Han Dhanya Krishi Yojana focusing on 100 districts with low productivity.

The budget aims to accelerate growth, secure inclusive development, uplift household sentiment, and enhance the spending power of India's middle .