Budget 2025 Live Updates: 'We have heard the voice of the middle class,' FM Sitharaman on Union Budget

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 reformsA 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.Stay with TOI for latest updates: