Presented by Finance Minister Nirmala Sitharaman
- Total Budget: ₹32.07 lakh crore
- Focus on Infrastructure: ₹11.11 lakh crore allocated
- Women Development: ₹3 lakh crore
- Rural Development: ₹2.66 lakh crore
- Urban Housing: ₹2.2 lakh crore
- Agriculture and Allied Sectors: ₹1.52 lakh crore
Major Announcements
Taxation:
- Stamp Duty Increase: States can raise stamp duty
- Stamp Duty Reduction: On registration of women’s properties
- Mudra Loan Limit: Increased to ₹20 lakh
- Income Tax Standard Deduction: Increased from ₹50,000 to ₹75,000 (only for new tax regime)
New Tax Regime Changes:
- Income up to ₹3 lakh: No tax
- Income ₹37 lakh: 5% tax
- Income ₹710 lakh: 10% tax
- Income ₹1012 lakh: 15% tax
- Income ₹1215 lakh: 20% tax
- Income above ₹15 lakh: 30% tax
- Savings in New Regime: Up to ₹17,500 tax savings
Fiscal Overview:
- Total Expenditure: ₹48.21 lakh crore
- Total Revenue: ₹32.07 lakh crore
- Tax Revenue: ₹28.83 lakh crore
- Estimated Fiscal Deficit: 4.9%
- Estimated Borrowings and NonTax Revenues: ₹16 lakh crore
Sectoral Allocations
Education and Skill Development:
- Allocation: ₹1.48 lakh crore
- Free Solar Power: For one crore homes
- Special Funds: For five floodaffected states
- Credit Guarantee Schemes: For MSMEs
- New Loan Scheme: ₹100 crore loans without collateral for machinery purchase
- Industrial Parks: Plug & play industrial parks in 100 cities
Airports and Transportation:
- Promotion of Small Airports: Across the country
- Temple Corridor: Development in Gaya similar to Varanasi
Changes in Duties and Reliefs
Plastic Products:
Tax Increase: 25% increase on plastic products
Capital Gains:
- Simplified System: 12.5% tax on longterm capital gains
- Minimum Capital Limit: ₹1.25 lakh
Customs and GST:
- Gold and Silver Prices: Reduction expected
- Mobile Phones: 15% reduction in customs duty
- Leather Products: Tax reduction
- GST Relief: On three cancer drugs and Xray machines
- Customs Duty Reduction: On 25 key minerals and solar products
Special Initiatives
Foreign Direct Investment:
- Simplification: In FDI policies and investments in other countries
- CommercialFriendly Policies: Reforms with the Jan Vishwas Bill
- Future Generations: Special funds for their development
Education Loans:
Higher Education Loans: Up to ₹10 lakh in domestic institutions
Regional Development
Bihar:
- Flood of Funds: ₹21,400 crore for a 2400 MW power plant
- Infrastructure: Airports, medical colleges, sports facilities
- Highways and Bridges: ₹26,000 crore for new construction
Andhra Pradesh:
- Special Economic Assistance: ₹15,000 crore for Amaravati’s development
- Polavaram Project: Funds allocated for speedy completion
- Industrial Development: Special aid for nodes in VisakhapatnamChennai and HyderabadBengaluru corridors
Employment and Skill Development
- Five Schemes: Under PM package for youth
- Skill Development: ₹2 lakh crore for education and job skills
- Higher Education Loans: ₹10 lakh
- Offshore Mining: New policy for exploring and mining seabed mineral deposits
Support for Small and Medium Enterprises
- Financial Aid: Credit guarantee schemes for MSMEs
- New Loan Scheme: ₹100 crore without collateral for equipment purchase
- Industrial Parks: Plug & play in 100 cities and 12 largescale industrial development centers
Social and Economic Welfare
- Garib Kalyan Yojana: Extended for 5 years
- SelfEmployment: Increased loan assistance for selfemployed women
- Interest Subsidy: 3% for students studying in Indian institutions
Vision for a Developed India by 2047
- Poverty Alleviation: Focus on poverty reduction, youth, women, and farmers
- Agriculture: Increased minimum support prices for crops
- Food and Energy Security: Reduced nonfood inflation to 3.1%
Finance Minister Nirmala Sitharaman’s Remarks:
- Continued Focus: On agriculture, employment, skill development, social justice, urban development, and infrastructure
- Inflation Control: Targeting 4% inflation
- Budget Goals: Creating jobs for 4 crore people over the next five years
- Nine Priority Areas: Including agriculture productivity, manufacturing, and service sector development