Budget 2025 Live: No tax on annual income of up to Rs 12 lakh under new regime

In recognition of the citizens’ 23, contribution to nation building, we want to reduce the tax burden on the tax payers, particularly the middle class.

TCS for education purposes to be removed

New TDS limit for senior citizens enhanced from 50K to 1 lakh

TDS limit on rent increased to 6 lakhs.

TCS payment delay to be decriminalised

TDS threshold for senior citizens doubled

Investment friendliness index of states will be launched this year: Sitharaman.

She also said NaBFID (National Bank for Financing Infrastructure and Development) will set up partial credit enhancement facility for corporate bonds.

The finance minister said the government will set up a high-level committee for regulatory reforms on all non-financial sectors.

The fiscal deficit for FY25 has been pegged at 4.8 per cent of GDP and at 4.4 per cent for FY26, Finance Minister Nirmala Sitharaman said on Saturday. Presenting the Budget 2025-26, she said net market borrowings are estimated at Rs 11.54 lakh crore for next fiscal year.