{"id":66197,"date":"2025-02-04T16:37:30","date_gmt":"2025-02-04T11:07:30","guid":{"rendered":"https:\/\/piceapp.com\/blogs\/?p=66197"},"modified":"2025-02-05T11:55:03","modified_gmt":"2025-02-05T06:25:03","slug":"union-budget-2025","status":"publish","type":"post","link":"https:\/\/piceapp.com\/blogs\/union-budget-2025\/","title":{"rendered":"Union Budget 2025 Highlights Explained"},"content":{"rendered":"\n<div class=\"wp-block-group has-background\" style=\"background-color:#f2f5f9\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<h3 class=\"wp-block-heading\"><strong>Key Takeaways<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Tax Relief<\/strong>\u2014No income tax for earnings up to \u20b912 lakh.<\/li>\n\n\n\n<li><strong>MSME Support<\/strong>\u2014Higher credit guarantees and new entrepreneur schemes.<\/li>\n\n\n\n<li><strong>Export Growth<\/strong>\u2014\u2018BharatTradeNet\u2019 and trade incentives boost global reach.<\/li>\n\n\n\n<li><strong>Simplified Taxation<\/strong>\u2014TDS\/TCS rationalization for easier compliance.<\/li>\n\n\n\n<li><strong>Industry Boost<\/strong>\u2014Incentives for toy, footwear, and food processing sectors.<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p>The Union Budget 2025-26 brings key reforms that mainly aim to drive economic growth, support startups and MSMEs, and boost private sector investments. A major highlight is the removal of income tax liability for individuals earning up to \u20b912 lakh annually under the new tax regime.<\/p>\n\n\n\n<p>The budget also focuses on infrastructure, manufacturing, <a href=\"https:\/\/www.centralbank.ie\/consumer-hub\/explainers\/what-is-financial-regulation-and-why-does-it-matter#:~:text=Financial%20regulation%20refers%20to%20the,and%20asset%20managers%20must%20follow.\" target=\"_blank\" rel=\"noopener\">financial regulations<\/a>, and exports to strengthen India\u2019s position as a global economic powerhouse.<\/p>\n\n\n\n<p>To get a comprehensive idea of the key changes and highlights of the Union<strong> Budget 2025<\/strong>, keep scrolling this guide.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Changes in Tax Structure of 2025<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"900\" height=\"506\" src=\"https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2025\/02\/Changes-in-Tax-Structure-of-2025.jpg\" alt=\"Changes in Tax Structure of 2025\" class=\"wp-image-66216\" title=\"\" srcset=\"https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2025\/02\/Changes-in-Tax-Structure-of-2025.jpg 900w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2025\/02\/Changes-in-Tax-Structure-of-2025-300x169.jpg 300w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2025\/02\/Changes-in-Tax-Structure-of-2025-150x84.jpg 150w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2025\/02\/Changes-in-Tax-Structure-of-2025-768x432.jpg 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><figcaption><\/figcaption><\/figure>\n\n\n\n<p>The government has given significant relief to the <a href=\"https:\/\/www.bbc.com\/news\/articles\/cx25k05p1y1o\" target=\"_blank\" rel=\"noopener\">middle class <\/a>by modifying the tax brackets in the new tax system. The revised brackets for 2025 are outlined below:<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Income Tax Slabs<\/strong><\/td><td><strong>Tax Rate<\/strong><\/td><\/tr><tr><td>Till \u20b94,00,000<\/td><td>NIL<\/td><\/tr><tr><td>\u20b94,00,001 to \u20b98,00,000<\/td><td>5%<\/td><\/tr><tr><td>\u20b98,00,001 to \u20b912,00,000<\/td><td>10%<\/td><\/tr><tr><td>\u20b912,00,001 to \u20b916,00,000&nbsp;<\/td><td>15%<\/td><\/tr><tr><td>\u20b916,00,001 to \u20b920,00,000<\/td><td>20%<\/td><\/tr><tr><td>\u20b920,00,001 to \u20b924,00,000<\/td><td>25%<\/td><\/tr><tr><td>\u20b924,00,001 and above<\/td><td>30%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Budget 2025 Announcement for MSMEs<\/strong><\/h2>\n\n\n\n<p>In the <strong>Union Budget 2025<\/strong>, Finance Minister Nirmala Sitharaman declared a range of measures to strengthen the Micro, Small, and Medium Enterprises <a href=\"https:\/\/www.ibef.org\/industry\/msme\" target=\"_blank\" rel=\"noopener\">(MSME) sector.<\/a><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Union Budget 2025 Explained: Key Highlights and Tax Changes | Modi and FM Nirmala Sitharaman\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/12b34dOXZUY?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Customised Credit Cards for Micro Enterprises<\/strong><\/h3>\n\n\n\n<p>Microenterprises that are registered on the Udyam portal will be able to obtain customized credit cards with a maximum limit of \u20b95 lakh. The plan includes the issuance of 10 lakh of these cards in the inaugural year.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Increased Credit Guarantee Cover for MSMEs<\/strong><\/h3>\n\n\n\n<p>The credit guarantee coverage for micro and small enterprises has been enhanced from \u20b95 crore to \u20b910 crore. This change is expected to facilitate an additional \u20b91.5 lakh crore in credit over the upcoming five years.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Revised MSME Classification Criteria<\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"900\" height=\"506\" src=\"https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2025\/02\/Revised-MSME-Classification-Criteria.jpg\" alt=\"Revised MSME Classification Criteria\" class=\"wp-image-66218\" title=\"\" srcset=\"https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2025\/02\/Revised-MSME-Classification-Criteria.jpg 900w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2025\/02\/Revised-MSME-Classification-Criteria-300x169.jpg 300w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2025\/02\/Revised-MSME-Classification-Criteria-150x84.jpg 150w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2025\/02\/Revised-MSME-Classification-Criteria-768x432.jpg 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><figcaption><\/figcaption><\/figure>\n\n\n\n<p>The investment threshold for MSMEs has been elevated by 2.5 times, while the turnover limit has doubled. This adjustment aims to promote<a href=\"https:\/\/www.upwork.com\/resources\/business-expansion#:~:text=Business%20expansion%20refers%20to%20the,time%20to%20consider%20business%20expansion.\" target=\"_blank\" rel=\"noopener\"> business expansion<\/a> and improve access to advanced technology and capital.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td rowspan=\"2\"><strong>Category of Enterprise<\/strong><\/td><td colspan=\"2\"><strong>Investment (<\/strong><strong>\u20b9<\/strong><strong> in Crore)<\/strong><\/td><td colspan=\"2\"><strong>Turnover (<\/strong><strong>\u20b9 <\/strong><strong>in Crore)&nbsp;&nbsp;&nbsp;&nbsp;<\/strong><\/td><\/tr><tr><td><strong>Current&nbsp;<\/strong><\/td><td><strong>Revised<\/strong><\/td><td><strong>Current<\/strong><\/td><td><strong>Revised<\/strong><\/td><\/tr><tr><td>Micro Enterprises<\/td><td>1<\/td><td>2.5<\/td><td>5<\/td><td>10<\/td><\/tr><tr><td>Small Enterprises<\/td><td>10<\/td><td>25<\/td><td>50<\/td><td>100<\/td><\/tr><tr><td>Medium Enterprises<\/td><td>50<\/td><td>125<\/td><td>250<\/td><td>500<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Scheme for First-Time Entrepreneurs<\/strong><\/h3>\n\n\n\n<p>A new initiative will be launched to support 5 lakh first-time entrepreneurs, including women and individuals from Scheduled Castes and Scheduled Tribes. This program will offer term loans up to \u20b92 crore over the next five years.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Support for Labour-Intensive Sectors<\/strong><\/h3>\n\n\n\n<p>To promote job creation and growth in sectors with high employment potential, the government introduced several initiatives in labour-intensive industries:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Toy Industry:<\/strong> A scheme aimed at establishing India as a global hub for sustainable toy manufacturing will strengthen domestic production capabilities and attract investment for high-quality<a href=\"https:\/\/nelda.org.in\/sustainable-living-practices\/\" target=\"_blank\" rel=\"noopener\">, sustainable practices<\/a> under the \u2018Made in India\u2019 brand.<\/li>\n\n\n\n<li><strong>Footwear and Leather Industry:<\/strong> A special product-focused scheme will enhance design capacity, component manufacturing, and production of non-leather footwear, aiming to generate employment for 22 lakh people and achieve a turnover of \u20b94 lakh crore.<\/li>\n\n\n\n<li><strong>Food Processing Sector:<\/strong> A National Institute of Food Technology will be set up in Bihar to improve farmers&#8217; income and offer skill development, entrepreneurship, and employment opportunities for the youth.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Enhancing Credit Access for MSMEs and Startups<\/strong><\/h2>\n\n\n\n<p>To make credit more accessible, the <a href=\"https:\/\/www.startupindia.gov.in\/content\/sih\/en\/credit-guarantee-scheme-for-startups.html\" target=\"_blank\" rel=\"noopener\">credit guarantee<\/a> cover will be increased as follows:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Micro and Small Enterprises:<\/strong> The coverage will rise from \u20b95 crore to \u20b910 crore, providing an additional \u20b91.5 lakh crore in credit over the next five years.<\/li>\n\n\n\n<li><strong>Startups:<\/strong> The cover for startups will go up from \u20b910 crore to \u20b920 crore, with a reduced guarantee fee of 1% for loans in 27 key sectors vital for Atmanirbhar Bharat.<\/li>\n\n\n\n<li><strong>Exporter MSMEs:<\/strong> Well-performing exporter MSMEs will benefit from an extended credit guarantee cover for term loans up to \u20b920 crore.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><a href=\"https:\/\/economictimes.indiatimes.com\/wealth\/tax\/section-87a-tax-rebate-changes-in-union-budget-2025\/articleshow\/117735302.cms?from=mdr\" target=\"_blank\" rel=\"noopener\"><\/a><strong>Income Tax Rebate Under Section 87A<\/strong><\/h2>\n\n\n\n<p>As per the new Budget 2025, the income tax rebate has been notably raised from \u20b925,000 to \u20b960,000. This adjustment allows individuals earning up to \u20b912,00,000 to qualify for a full tax rebate, leading to no tax obligation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Omission of Sections 206AB and 206CCA<\/strong><\/h2>\n\n\n\n<p>Sections 206AB and 206CCA were eliminated in the Union Budget 2025. These sections imposed increased TDS and TCS rates\u2014either double the standard rate or 5% on individuals who did not file their tax returns and had a total TDS or TCS amounting to \u20b950,000 or more.<\/p>\n\n\n\n<p>Although these measures were designed to encourage tax compliance, they created significant obstacles for businesses and small taxpayers, as verifying whether returns were filed became quite challenging. The decision to remove these sections aims to ease the compliance burden and streamline the tax process, with these changes scheduled to take effect on April 1, 2025.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>TDS or TCS Rationalisation Measures in Budget 2025\u00a0<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"900\" height=\"506\" src=\"https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2025\/02\/TDS-or-TCS-Rationalisation-Measures-in-Budget-2025-.png\" alt=\"TDS or TCS Rationalisation Measures in Budget 2025\u00a0\" class=\"wp-image-66221\" title=\"\" srcset=\"https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2025\/02\/TDS-or-TCS-Rationalisation-Measures-in-Budget-2025-.png 900w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2025\/02\/TDS-or-TCS-Rationalisation-Measures-in-Budget-2025--300x169.png 300w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2025\/02\/TDS-or-TCS-Rationalisation-Measures-in-Budget-2025--150x84.png 150w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2025\/02\/TDS-or-TCS-Rationalisation-Measures-in-Budget-2025--768x432.png 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><figcaption><\/figcaption><\/figure>\n\n\n\n<p>The Union Budget 2025 suggested simplifying the Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) systems to help alleviate compliance difficulties for taxpayers, particularly those in the middle-income bracket. To streamline the <a href=\"https:\/\/paytm.com\/blog\/glossary\/taxation-meaning-definition\/\" target=\"_blank\" rel=\"noopener\">taxation process<\/a>, the government has also increased the threshold limits for different TDS sections. The proposed modifications include the following:<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Section<\/strong><\/td><td><strong>Present<\/strong><\/td><td><strong>Proposed&nbsp;<\/strong><\/td><\/tr><tr><td>193 &#8211; Interest on securities<\/td><td>NIL<\/td><td>\u20b910,000<\/td><\/tr><tr><td>194 &#8211; Dividend for individual shareholders<\/td><td>\u20b95,000<\/td><td>\u20b910,000<\/td><\/tr><tr><td rowspan=\"3\">194A &#8211; Interest other than on securities<\/td><td>\u20b950,000 for seniorcitizen<\/td><td>\u20b91,00,000 for seniorcitizen<\/td><\/tr><tr><td>\u20b940,000 for others when the payment is made by a bank, post office or cooperative society<\/td><td>\u20b950,000 for transactions involving banks, post offices and cooperative societies<\/td><\/tr><tr><td>\u20b95,000 in all other situations<\/td><td>\u20b910,000 applies in other situations<\/td><\/tr><tr><td>194B &#8211; Winnings from crossword puzzles, lottery, etc.&nbsp;<\/td><td>Total amounts exceeding \u20b910,000 during the financial year.<\/td><td>A sum of \u20b910,000 for a single transaction.<\/td><\/tr><tr><td>194D &#8211; Insurance commission<\/td><td>\u20b915,000<\/td><td>\u20b920,000<\/td><\/tr><tr><td>194K\u2014Income in respect of units of a mutual fund<\/td><td>\u20b915,000<\/td><td>\u20b920,000<\/td><\/tr><tr><td>194G\u2014Income from lottery ticket commission, prize etc.<\/td><td>\u20b915,000<\/td><td>\u20b920,000<\/td><\/tr><tr><td>194-I &#8211; Rent<\/td><td>\u20b92,40,000 (in a fiscal year)<\/td><td>\u20b96,00,000 (in a fiscal year)<\/td><\/tr><tr><td>194J &#8211; Fee for professional or technical services<\/td><td>\u20b930,000<\/td><td>\u20b950,000<\/td><\/tr><tr><td>194LA\u2014Income from increased compensation.<\/td><td>\u20b95,000<\/td><td>\u20b910,000<\/td><\/tr><tr><td>194LA &#8211; Income from increased compensation.<\/td><td>\u20b92,50,000<\/td><td>\u20b95,00,000<\/td><\/tr><tr><td>206C(1G) \u2013 Remittance through the LRS for overseas travel packages.<\/td><td>\u20b97,00,000<\/td><td>\u20b910,00,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Initiatives for Export in Budget 2025&nbsp;<\/strong><\/h2>\n\n\n\n<p>The Union Budget 2025 introduces several measures to boost exports and enhance India&#8217;s trade competitiveness.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Export Promotion Mission<\/strong><\/li>\n<\/ul>\n\n\n\n<p>This initiative aims to set specific sectoral and ministerial goals to enable cross-border factoring assistance, easier access to export credit, and aid for MSMEs in navigating non-tariff challenges in international markets.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Bharat Trade Net (BTN)<\/strong><\/li>\n<\/ul>\n\n\n\n<p>A unified digital platform named \u2018BharatTradeNet\u2019 (BTN) will be established to streamline trade documentation and financing for international trade. This system will support integration with global supply chains.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>National Framework for Global Capability Centres (GCC)<\/strong><\/li>\n<\/ul>\n\n\n\n<p>This framework will serve as a guideline for states to encourage the establishment of Global Capability Centers in emerging tier 2 cities.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Air Cargo Warehousing<\/strong><\/li>\n<\/ul>\n\n\n\n<p>The initiative focuses on improving infrastructure and establishing <a href=\"https:\/\/www.allcargologistics.com\/what-is-warehousing-solutions\" target=\"_blank\" rel=\"noopener\">warehousing solutions <\/a>for air cargo, particularly for high-value perishable horticultural products.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Extension of Time Limit for Submitting Income Tax Returns<\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"900\" height=\"506\" src=\"https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2025\/02\/Extension-of-Time-Limit-for-Submitting-Income-Tax-Returns.png\" alt=\"Extension of Time Limit for Submitting Income Tax Returns\" class=\"wp-image-66224\" title=\"\" srcset=\"https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2025\/02\/Extension-of-Time-Limit-for-Submitting-Income-Tax-Returns.png 900w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2025\/02\/Extension-of-Time-Limit-for-Submitting-Income-Tax-Returns-300x169.png 300w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2025\/02\/Extension-of-Time-Limit-for-Submitting-Income-Tax-Returns-150x84.png 150w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2025\/02\/Extension-of-Time-Limit-for-Submitting-Income-Tax-Returns-768x432.png 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><figcaption><\/figcaption><\/figure>\n\n\n\n<p>The deadline for filing updated returns has been extended from 24 months to 48 months from the close of the relevant assessment year. This offers taxpayers additional time to amend or update their tax returns without incurring penalties. The tax payable will vary based on when the updated return is submitted:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>60% of the tax and interest on the extra income if filed within 24 to 36 months.<\/li>\n\n\n\n<li>70% of the tax and interest if filed within 36 to 48 months.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Conclusion<\/strong><\/h2>\n\n\n\n<p>The <strong>Union Budget 2025<\/strong> introduces a range of transformative measures to enhance India\u2019s global competitiveness. Key reforms, such as tax relief for middle-class individuals, expanded credit access for businesses, and initiatives to promote exports, will provide a strong foundation for sustained growth.<\/p>\n\n\n\n<p>Additionally, the simplification of this tax process reflects the government\u2019s commitment to fostering a thriving business environment.\u00a0<\/p>\n\n\n\n<p class=\"has-background\" style=\"background-color:#f2f5f9\">\ud83d\udca1If you want to streamline your payment and make GST payments, consider using\u00a0<a href=\"https:\/\/piceapp.com\/\">the PICE App<\/a>. Explore the PICE App today and take your business to new heights.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>FAQs<\/strong><\/h3>\n\n\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-1738664150466\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong><strong>What is the new income tax structure under Budget 2025?<\/strong><\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>The new tax regime offers relief by eliminating tax liability for incomes up to \u20b912 lakh. The revised tax slabs range from 5% for \u20b94-8 lakh to 30% for incomes above \u20b924 lakh, making taxation simpler and reducing the burden on middle-class taxpayers.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1738666912969\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong><strong>How does Budget 2025 support MSMEs and startups?<\/strong><\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>MSMEs benefit from increased credit guarantees (\u20b910 crore) and customized credit cards (\u20b95 lakh limit). Startups get an extended credit cover of \u20b920 crore and a lower guarantee fee, promoting financial access and business expansion.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1738666918138\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong><strong>What are the key initiatives for the export sector?<\/strong><\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>The government introduced \u2018BharatTradeNet\u2019 for seamless trade documentation and financing. The Export Promotion Mission and improved air cargo warehousing will enhance India\u2019s trade competitiveness and support MSMEs in international markets.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1738666924217\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong><strong>What changes have been made to the TDS\/TCS system?<\/strong><\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Budget 2025 simplifies TDS\/TCS by increasing threshold limits across various sections. For example, rent TDS now applies above \u20b96 lakh (previously \u20b92.4 lakh), and professional fees TDS starts at \u20b950,000 instead of \u20b930,000.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1738666929713\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong><strong>How does the budget promote employment in key industries?<\/strong><\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Special schemes for labour-intensive sectors like toys, footwear, and food processing will boost manufacturing and create jobs. The footwear industry alone is expected to generate 22 lakh jobs and contribute significantly to India\u2019s economy.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Key Takeaways The Union Budget 2025-26 brings key reforms that mainly aim to drive economic growth, support startups and MSMEs, and boost private sector investments. A major highlight is the removal of income tax liability for individuals earning up to \u20b912 lakh annually under the new tax regime. The budget also focuses on infrastructure, manufacturing, [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":66214,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-66197","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gst"],"_links":{"self":[{"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/posts\/66197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/comments?post=66197"}],"version-history":[{"count":9,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/posts\/66197\/revisions"}],"predecessor-version":[{"id":66227,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/posts\/66197\/revisions\/66227"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/media\/66214"}],"wp:attachment":[{"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/media?parent=66197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/categories?post=66197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/tags?post=66197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}