New Delhi, February 1:Finance Minister Nirmala Sitharaman today presented the Union Budget 2025, the first full-fledged budget of the Modi government’s third term. This year’s budget places significant emphasis on agriculture, employment, education, tax relief, and infrastructure development. Special allocations have been made for Assam and the Northeast, along with key measures benefiting farmers, middle-class taxpayers, and entrepreneurs.
Key Announcements for Assam and the Northeast
New Urea Project in Namrup: To boost agricultural productivity, a new urea production facility will be set up in Namrup, Assam.
Infrastructure Development: Additional budget allocations have been made for road and railway expansion in the Northeast.
Jal Jeevan Mission:The government aims to provide 100% rural household tap water connections across the country, including Assam, by 2028.
Relief for Farmers and MSMEs
Pradhan Mantri Dhan Dhan Yojana: A new initiative targeting 100 districts to improve agricultural productivity and modernize farming techniques, benefiting over 1 crore farmers.
Increased Credit Limit for Farmers:The Kisan Credit Card loan limit has been raised from ₹3 lakh to ₹5 lakh.
Boost for MSMEs:Small businesses will now have access to loans of up to ₹10 crore (previously ₹5 crore), while startups will get a loan limit increase from ₹10 crore to ₹20 crore.
Education and Healthcare Reforms
IIT Patna Expansion: More seats and hostels will be added to accommodate an increasing number of students.
Investment in AI and Medical Education: ₹500 crore has been allocated to promote AI sector development, while 75,000 new medical seats will be added over the next five years.
Cancer Treatment Support: Customs duty on 36 essential cancer drugs will be completely waived, reducing their cost significantly.
Tax Relief for Middle-Class and Salaried Individuals
Income Tax Exemption Up to ₹12 Lakh: Individuals earning up to ₹12 lakh annually will not have to pay income tax.
Extended Income Tax Return (ITR) Filing Period: The time frame for filing ITR has been extended from 2 years to 3 years.
Economic Growth and Industrial Development
New Greenfield Airport in Bihar:To meet future air traffic demands, a new airport will be developed in Bihar.
Nuclear Energy and Clean Tech Expansion: The government will partner with the private sector to enhance nuclear energy production and promote eco-friendly manufacturing.
Conclusion The Union Budget 2025 focuses on economic growth, employment generation, tax relief, and infrastructure expansion. Special provisions for Assam, including agricultural support and industrial projects, highlight the government’s commitment to regional development. Overall, this budget is expected to drive national progress while providing financial relief to the middle class and farmers.
