Finance Minister Nirmala Sitharaman’s budget speech
Union Budget 2025: In her budget speech, Finance Minister Nirmala Sitharaman has announced a term loan of up to Rs 2 crore for women and SC/ST (tribal and scheduled castes) as well as backward classes. The Finance Minister said in his speech that the government has emphasis on development. There is an emphasis on increasing middle class consumption. He said that geopolitical stress has reduced global growth. Sitharaman said in his budget speech that it has to work for the upliftment of the poor, youth, farmers and women of the country.
5 lakh entrepreneurs will get benefit
Finance Minister Nirmala Sitharaman said that the government will introduce a loan of Rs 2 crore for five lakh women, scheduled castes and scheduled tribe entrepreneurs who started enterprises for the first time. The Finance Minister, while presenting the Union Budget for 2025-26, also said that a manufacturing mission will be set up for SMEs and large industries.
Debt guarantee ‘cover’ doubled
Apart from this, the government will take convenient measures to increase productivity of labor-dominated areas. He said that the loan guarantee ‘cover’ will be doubled to Rs 20 crore and the guarantee fee will be reduced to one percent. The minister also announced the establishment of National Institute of Food Technology, Entrepreneurship and Management in Bihar.
Relief to senior citizen
The limit of ITR and TDS has been increased in this budget. The TDS limit has been increased to 10 lakhs. A major announcement has been made for the elderly in tax deduction. You will be able to fill the returns for four years. Senior citizens have been doubled on tax. The exemption has been increased from 50 thousand to 1 lakh.
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