Budget 2025: Key Highlights of Last Budgets Under FM Nirmala Sitharaman
With the Union Budget 2025 approaching, expectations are high, particularly for tax relief, updates on cryptocurrencies, and support for key sectors. Let’s review some of the major highlights from previous budgets under Finance Minister Nirmala Sitharaman.
The ‘Once-in-a-Century’ Budget of 2021
The 2021 Budget, presented amidst the COVID-19 pandemic, was noted for its bold reforms aimed at long-term economic recovery. Key measures included:
- Healthcare Boost: A 137% increase in the healthcare allocation, with ₹35,000 crore for COVID-19 vaccinations.
- Sector Reforms: Raising FDI in insurance to 74%, recapitalisation of state-run banks, and a ₹1.75 trillion privatisation target.
- Market Impact: The budget triggered a historic stock market rally, marking the best budget-day performance in two decades.
- Social Welfare: The launch of the ‘One Nation One Ration Card’ scheme for migrant workers.
Key Highlights from Other Budgets
- Union Budget 2024: Focused on tax revisions, with relief for the middle class and ₹1.52 lakh crore allocated to agriculture.
- Budget 2023: Introduced tax rebates and a 33% increase in capital investment.
- Budget 2022: Emphasised a green economy and self-reliance with initiatives like the Production Linked Incentive scheme and cryptocurrency taxation.
Expectations for Budget 2025
Looking ahead to Budget 2025, we anticipate:
- Tax Reliefs: Updates for middle-income groups.
- Cryptocurrency Regulations: Proposals for clearer regulation and taxation.
- Job Creation & Welfare: Continued focus on supporting youth, women, and farmers.
Budget 2025 is expected to continue the tradition of transformative reforms to drive long-term growth.
Disclaimer: The information provided is for educational purposes only. Please seek expert advice before making investment decisions.