Budget 2025 Reactions Highlight: FM Sitharaman Announces Big Sops For Middle Class; India Inc Hails Budget 2025

Budget 2025 Reactions Highlight: In addition to the tax relief, the Finance Minister also introduced reforms to simplify the Tax Deduction at Source (TDS) system.

Budget 2025 Reactions Highlight: Union Finance Minister Nirmala Sitharaman presented the Union Budget 2025 on February 1, marking her eighth consecutive announcement of the annual financial plan. A key highlight of this year’s budget was the major relief provided to salaried individuals. Under the new tax regime, income up to Rs 12.75 lakh will be completely tax-free. This move is expected to ease the tax burden on the middle class, offering greater disposable income for millions of taxpayers.

In addition to the tax relief, the Finance Minister also introduced reforms to simplify the Tax Deduction at Source (TDS) system. The government plans to reduce the number of TDS rates and the thresholds for deduction, streamlining the process and making it more user-friendly. Other notable changes in the budget include reforms aimed at improving rent payments, facilitating easier remittances, enhancing higher education, and simplifying the sale of goods. There was also a focus on decriminalising certain offences to reduce unnecessary legal complications.

02 February 2025

02 February 2025 20:32 IST

Post Budget 2025 Live Updates: Strengthening Healthcare and Expanding Insurance Coverage

"The government's commitment to strengthening healthcare infrastructure, including the establishment of Day Care Cancer Centres in district hospitals, is a significant step toward improving critical care access,". At SBI General, we remain dedicated to bridging the protection gap by ensuring wider penetration of health insurance across urban and rural India," said Naveen Chandra Jha, MD & CEO, SBI General Insurance.

02 February 2025 19:58 IST

Post Budget 2025 Live Updates: Enhancing Relief and Support for Homebuyers and Real Estate Growth

“The recent budget introduces much-needed relief, particularly with the zero-tax provision on annual incomes up to ₹12 lakh—a move that enhances disposable income and is expected to support homebuyers,” 

“Additionally, the allocation of ₹15,000 crore under the SWAMIH Fund for completing 1 lakh stalled housing units is a significant intervention, providing relief to buyers impacted by delayed projects and supporting supply-side stakeholders. However, additional measures could have further strengthened the sector. Increasing home loan deduction limits would have improved financing accessibility, particularly for first-time homebuyers and end-users. This could have enhanced affordability, eased credit constraints, reduced tax liabilities, and contributed towards meeting the projected demand of 93 million housing units by 2036,” aid Mr. Piyush Bothra, Co-Founder and CFO, Square Yards.