The Union Budget 2025 has introduced several key reforms aimed at economic growth, ease of compliance, and financial relief. This video summarises the major changes and introductions for Indian citizens.
Under the vision of ‘Viksit Bharat,’ this budget focuses on poverty reduction, quality education, accessible healthcare, employment generation, and women’s economic participation.
A major highlight is the simplification of income tax rules. Salaried individuals earning up to ₹12 Lakhs will not have to pay any income tax. The TDS threshold on rent has increased from ₹2.4 Lakhs to ₹6 Lakhs, and senior citizens now enjoy a higher TDS exemption limit of ₹1 Lakh.
There are major exemptions in customs duties, especially on life-saving medicines, EV batteries, and shipbuilding materials. MSMEs and startups receive a boost with new credit guarantee schemes and a ₹10,000 Crore Fund of Funds. Additionally, 10 Lakh ‘Customised Credit Cards’ are to be introduced.
The budget also announced schemes to support India’s toy, footwear, and shipbuilding industries. This could create employment opportunities and driving exports. With several changes across multiple sectors, this budget aims to fuel long-term economic growth.
To learn about other reforms, watch the second part of our detailed breakdown of the Union Budget 2025, only on Academy!
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