Union Budget 2025-26: Groundbreaking Reforms and Economic Revitalization

Finance Minister Nirmala Sitharaman presented the Union Budget 2025-26, introducing significant reforms in direct and indirect taxes, insurance, and agriculture sectors. Key highlights include no income tax for income up to Rs 12 lakh, 100% FDI in insurance, and focus on agriculture and technology innovation.

Finance Minister Nirmala Sitharaman unveiled the Union Budget 2025-26 on Saturday, marking a significant shift in India's economic landscape. The new budget exempts personal income tax for earnings up to Rs 12 lakh, as part of efforts to simplify the taxation regime. This change alone will see a revenue reduction of Rs 1 lakh crore.

The budget also emphasizes boosting the insurance sector with plans to increase Foreign Direct Investment to 100% from 74%. For the agriculture sector, initiatives like the PM Dhan-Dhaanya Krishi Yojana and a dedicated mission for pulses aim to benefit millions of farmers and enhance production capacities nationwide.

In a move towards sustainable development, the budget outlines ambitious investments in technology, education, and healthcare, including broadband connectivity for rural schools and an artificial intelligence centre. The government also detailed infrastructure improvements and plans for regional connectivity under the Modified UDAN scheme, expected to carry 4 crore passengers in the next decade.