/newsfirstprime/media/agency_attachments/2025/07/28/2025-07-28t111554609z-2025-07-23t100810984z-newsfirst_prime_640-siddesh-kumar-h-p-1-2025-07-23-15-38-10-2025-07-28-16-45-54.webp)
Follow Us
/newsfirstprime/media/post_attachments/wp-content/uploads/2025/01/income-tax.jpg)
The Union Budget for 2025 is anticipated to be presented by Finance Minister Nirmala Sitharaman on February 1, 2025, at 11 a.m., marking the Modi government’s second full-fledged budget in its current term. While an official announcement is yet to be made, discussions around key reforms are already generating significant interest.
Also Read: Budget 2025-26 expected to introduce tax benefits for earners up to Rs 15 lakh
One of the most awaited changes is the potential revision of the standard deduction for salaried employees and pensioners. Currently, under the old tax regime, individuals benefit from a standard deduction of ₹50,000, while the new tax regime offers ₹75,000 irrespective of income levels. The government is reportedly considering further enhancements to the new regime to make it more attractive for taxpayers.
Speculation is also rife about revisions to income tax slabs under the new system. Experts suggest that the highest tax rate of 30% could be applied to incomes above ₹20 lakh, a move that would account for inflation and align the tax structure with the current economic climate.
Additionally, the budget is expected to include sectoral analysis and policy updates aimed at fostering economic growth and addressing taxpayer expectations. With these potential reforms, the Union Budget 2025 could significantly impact individual taxpayers and the broader economy.
