L J Ravi 
KARNATAKA CM AND OPPOSITION PARTIES OPPOSE THIS BUDJET AS POORIS POOR NORMAL IS NORMAL HIGH IS HOIGH GOVT CANNOT THE LOWER CLASSES WILL NEVER RISE ABOVE POOR IS ALWAYS POOR The middle, lower class and the working class have been asking for an increase in the income limit every year. But poor is poor always, where is the govt. dollar becoming high rupi is lower.
The middle class and the working class have been asking for an increase in the income limit every year. In these days of high inflation, there have been demands to increase the income tax exemption limit from Rs 10 to Rs 10 lakh.now It is also being said that the income tax limit will be increased to Rs 12-14 lakh. This time, there are expectations that the new tax regime will have some benefits and tax slabs may change. However, there is also a question of whether the government is willing to lose direct tax revenue. The government did not follow such a popular policy even in an election year. Total budjet 50.65 lakh crore.Net tax budjet 28.37 lakh crore. Total debt 14.82 lakh crore. 11.21 lakh crores for capital expenditure. When will the dollar and the rupee become equal? is it possible by BJP Govt ?
New Delhi: Finance minister Nirmala Sitharaman on Sunday said that Prime Minister Narendra Modi was fully behind the idea of cutting taxes, but it took time to convince the bureaucrats,
Budget 2025 Live: Union finance minister Nirmala Sitharaman presented the first full budget of Modi government 3.0. Sitharaman announced that there will be no income tax payable for incomes up to Rs 12 lakh, and Rs 12.75 lakh for salaried taxpayers (including standard deduction).
In the new tax regime, the revised tax rate structure is Rs 0-4 lakh (zero tax), Rs 4-8 lakh (5 per cent), Rs 8-12 lakh (10 per cent), Rs 12-16 lakh (15 per cent), Rs 16-20 lakh (20 per cent), Rs 20-24 lakh (25 per cent), and above Rs 24 lakh (30 per cent).
Sitharaman unveiled her record eighth consecutive budget in the Lok Sabha, unveiling key economic reforms.
The focus of Budget presented in Lok Sabha was on ‘garib, youth, anndatta and nari’ (poor, youth, farmers and women). The budget will initiate reforms in 6 domains — taxation, urban development, mining, financial sector, power and regulatory reforms
India macro fundamentals strong, rupee not depreciating against any currency other than USD,’ says FM Sitharaman
Finance Minister Nirmala Sitharaman defended the Indian rupee’s performance, rejecting criticism of its depreciation. She explained that while the rupee has weakened by 3% against the US dollar recently, it has remained stable against other currencies due to strong macroeconomic fundamentals. In an interview with PTI, Sitharaman acknowledged the impact of a strengthening US dollar but dismissed claims of widespread rupee weakness.
She highlighted that the rupee remains less volatile than other currencies and pointed to the broader global economic context, including the US Federal Reserve’s policies. The Reserve Bank of India has reportedly spent USD 77 billion from its reserves to stabilize the currency. Sitharaman stressed that critics need to consider the complex factors behind the rupee’s performance, urging a more nuanced understanding of its relationship with the dollar.
A day earlier, the Economic Survey, tabled in Parliament, projected India’s economy to grow between 6.3% and 6.8% in the financial year 2025-26. The survey highlighted strong economic fundamentals, citing a stable external account, fiscal discipline, and robust private consumption. It also emphasised the government’s push for long-term industrial growth through increased focus on research and development (R&D), MSMEs, and capital goods.
“…The PM was very clear that he wants to do something. It is for ministry to have had the comfort level and then go with the proposal. So, the more work that was needed, was needed for convincing the board that efficiency in collection and honest taxpayers’ voice… all this was work here in the ministry, not so much for the PM…” Nirmala Sitharaman
“…He (PM Modi) meets them, interacts with them, gets their inputs… just as he would also talk with the most deprived sections or let’s say the tribals, particularly the vulnerable tribal groups… just as Rashtrapati ji was very keen on addressing their problems, PM also listens to all sections… So, I am very happy to be part of this government, which literally hears the voice and responds.”
“To taxpayers up to ₹12 lakh of normal income (other than special rate income such as capital gains) tax rebate is being provided in addition to the benefit due to slab rate reduction in such a manner that there is no tax payable by them,” Sitharaman said in the Parliament.
Later on Saturday, Prime Minister Narendra Modi hailed the budget presented by Sitharaman as a “force multiplier.” In a video address, PM Modi said the budget reflects the aspirations of 1.4 billion Indians.
“Usually, the focus of the budget is on how the government treasury will be filled. But this budget is exactly the opposite. How will this budget fill the pockets of the citizens, increase their savings and how will they become development partners… this budget lays a very strong foundation for it…” he said.
