India's total budget is 50 lakh 65 thousand crores, income tax limit has been increased to give relief to the middle class
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The Government of India is going to provide 7 billion Bharu (about 1.11 billion rupees) subsidy to Nepal in the financial year 2025/26 as well. In the budget presented by the Indian Finance Minister Nirmala Sitharaman in the Parliament on Saturday, it is mentioned that this assistance will be given to Nepal.
Even in the financial year 2024/25, India allocated 7 billion baht in the budget for Nepal. In the previous financial year, India had given Nepal
had given 657.38 crore grant. Next year, in the total budget of 20,516 crores allocated by India for the Ministry of Foreign Affairs, 5,483 crores have been allocated for foreign aid. As in the past, under the heading of foreign aid, it is said that 2,150 million baht will be given to Bhutan.
After Bhutan, the second largest amount of money has been allocated in the budget for Nepal. India has been allocating foreign aid grants to Afghanistan, Bangladesh, Sri Lanka, Maldives, Myanmar, Mongolia, Mauritius, Seychelles, African countries, Eurasian and Latin American countries. 600 crores for Maldives, 350 crores for Myanmar, 300 crores for Sri Lanka, 120 crores for Bangladesh and 100 crores for Afghanistan have been kept in the budget.
Finance Minister Sitharaman has presented the budget for the financial year 2025/26 with an estimated expenditure of 5 million 65 thousand crores in the Parliament. India's budget has increased by 7.4 percent compared to last year. The maximum budget of 548 thousand 649 crores has been kept for the development of the transport sector.
4 lakh 91 thousand 732 crores have been allocated for defense, 2 lakh 66 thousand 817 crores for rural development, 1 lakh 28 thousand 650 crores for education and 1 lakh 71 thousand 437 crores for agriculture sector. It seems that electric and electronic devices will be cheaper due to tax exemption. The discount on lithium batteries is expected to reduce the price of electric vehicles. The prices of SCD, LED televisions and mobile phones, cameras and other materials are seen to be cheaper.
In the field of social security, various programs have been announced for children, pregnant women and senior citizens. The budget has focused on creating jobs. In addition to increasing the start-up loan limit, keeping official data of those working in the unorganized sector, various schemes for employment opportunities have been announced in the budget. It is said in the budget that cancer care centers will be established at the district level to treat diseases like cancer. Also, there is an effort to make cancer and other drugs cheaper by giving tax breaks in the budget.
A tax exemption has been announced for people earning Rs 12 lakh annually. For those who are employed, the limit of tax exemption is set for annual income of 12 lakh 75 thousand. They do not have to pay income tax. The middle class Indian citizens will benefit after raising the income limit for tax exemption.
10 years ago in 2014, those who earn 250,000 annually were kept in the scope of tax exemption. It has been gradually increased to the limit of 12 lakhs. Senior citizens will also get special tax exemption. Senior citizens will not be taxed on the interest received from the term account up to Rs 1 lakh.
A credit card of up to 5 lakhs has been announced for farmers. Internet services and primary health centers are said to be set up in all secondary schools. It has been announced that a national action plan will be made to establish a toy center within the country to stop the import of Chinese toys. India imports 76 percent of toys.
