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Finance Minister Nirmala Sitharaman made big-bang announcements in the Union Budget for the fiscal year 2025-26. Let’s have a look at some of them.
There will be no tax payable for taxpayers earning up to ₹12 lakh per annum under the new tax regime (other than special rate income like capital gains).
Gig workers will be provided healthcare under PM Jan Arogya Yojana. This initiative will help nearly 1 crore workers.
The government is exploring a Deep Tech Fund of Funds to promote deep tech innovation in the country.
The centre has allocated ₹20,000 crore to implement Research, Development and Innovation driven by the private sector.
A total of 35 additional goods for EV battery manufacturing and 28 additional goods for mobile phone battery manufacturing will be exempted from Basic Customs Duty.
The FDI limit in the insurance sector was raised to 100% from 74% and a forum for regulatory coordination and development of pension products will be set up.
Street vendors to get UPI-linked cards with a limit of ₹20,000. Additionally, the centre will provide Gig Workers with identity cards and registration on the e-Shram portal.
The government will develop the top 50 tourist sites across the country in partnership with states. Many measures will be taken for this including streamlined e-visa facilities.
50,000 Atal Tinkering Labs will be set up in government schools in the next five years. Moreover, broadband connectivity will be provided to all government secondary schools.
The central government will enhance the limit for the interest subvention scheme for Kisan Credit Card from ₹3 lakh to ₹5 lakh.
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