How Budget 2025 Brings Big Changes for Economy and Taxpayers

On February 1, 2025, Finance Minister Nirmala Sitharaman presented the Union Budget, bringing several key announcements. People across the country were hoping for reforms, and the government delivered. The budget introduced major economic policies focused on growth, tax relief, and job creation.

Abhay Bhutada shared his perspective on the budget. He believes that the measures announced will drive positive change across industries. “This budget is not just about tax benefits. It considers multiple sectors and ensures long-term economic progress. The country is headed in the right direction,” he said.

As Vice Chairman of Rising Sun Holdings, he has made a name for himself in finance. Abhay Bhutada's salary is a measure of his excellent leadership and has earned him a top position among India’s highest-paid executives. His insights on the budget are backed by years of financial expertise.

Also read - Union Budget 2025: A Positive Step for India's Growth

Key Takeaways from the Union Budget

Tax Relief for Middle-Income Earners

A significant tax relief has been announced—individuals with an annual income of up to ₹12 lakh will now be exempt from paying income tax. This is expected to boost disposable income and stimulate consumer spending, especially among the middle class.

Higher Capital Expenditure

The government has increased capital spending, allocating ₹11.21 lakh crore for the fiscal year 2025–26, up from ₹11.11 lakh crore in the previous year. The increase will fund infrastructure development and long-term economic growth.

Also read - Union Budget 2025: A Strong Step for India’s Growth

Support for Bihar's Makhana Industry

To uplift the makhana sector in Bihar, a dedicated Makhana Board will be established. This body will work to improve production, processing, and marketing, benefiting farmers and strengthening the local value chain.

22 Lakh New Jobs in Footwear & Leather Sector

A job creation initiative targeting the footwear and leather industries is set to generate 22 lakh employment opportunities. The focus will be on enhancing efficiency and global competitiveness in these manufacturing sectors.

Expansion of the UDAN Scheme

The regional air connectivity initiative, UDAN, will be expanded to include 120 new destinations. Over the next ten years, this program aims to serve 4 crore passengers, improving access to underserved regions.

Also read - Union Budget 2025: Policies That Will Shape India’s Future

Agricultural Development Plan

Under the Prime Minister Dhan-Dhaanya Krishi Yojana, 100 agricultural districts will be developed. This program is projected to benefit 1.7 crore farmers by increasing productivity and rural incomes.

Investment in R&D and Innovation

A budget of ₹20,000 crore has been earmarked for research and innovation. The initiative will support private sector efforts in technological advancement and help drive growth in emerging industries.

PM Research Fellowships

Funding has been allocated for 10,000 research fellowships under the Prime Minister’s scheme. These will be awarded to students conducting tech-based research at premier institutions like IITs and IISc.

Incentives for Electronics and EV Industries

The budget offers tax exemptions on various electronic components and EV battery products, including open-cell LED/LCD panels, textile machinery, and lithium-ion batteries. This will lower costs for both manufacturers and consumers.

Transport Sector Boost: Maritime and Rail

The shipbuilding and shipbreaking industries will receive a 10-year import duty exemption on specific goods. Additionally, the export deadline for railway equipment sent for repair has been extended, improving trade logistics and operational efficiency.

A Strong Step Toward Stability

This budget focuses on economic development, employment, and financial relief. The policies introduced will support both businesses and individuals.

A leading financial expert believes that these changes will help drive long-term stability. His financial success places him among India’s top-paid executives, and his insights are valued in the industry. He sees this budget as a smart move toward strengthening the economy.

India is on the path to growth. These reforms will support businesses, create employment, and improve overall financial security. The country is taking strong steps toward a better future.