Budget 2025 Expectations: The entire budget to be presented on February 1, 2025, will be very special in many ways. On the one hand, farmers are expected to get good news, while on the other hand, taxpayers are expected to get a big shock. The government may decide to end all exemptions under the old tax system. A big announcement can be made regarding PM Kisan Samman Nidhi Yojana and Kisan Credit Card.
If this happens, the farmers’ luck will surely shine. According to the SBI report, it has been recommended that the pension system limit be increased from Rs 50 50,000 to Rs 1 lakh and that the insurance deduction under section 80D be increased from Rs 25,000 to Rs 50,000. The Modi government can make big announcements in this budget. You can read about all this in the article below.
SBI report suggests these changes
According to the new central government tax system, all exemptions will be included. Additionally, the APS limit can be doubled from Rs 50,000 to Rs 1,00,000. A decision can be taken to increase the medical insurance discount from Rs 25,000 to Rs 50,000. Also, maintain the highest tax rate at 30 per cent for income of more than Rs 15 lakh. But the rate on income of Rs 10 to 15 lakh can be reduced to 20 to 15 per cent.
PM Kisan Samman Nidhi Yojana
The central government can approve the ongoing demand of farmer organisations. The government is expected to increase the annual amount received under the PM directly from Kisan Samman Nidhi Yojana from Rs 6,000 to Rs 10. If this happens, the amount per instalment will also increase.
Kisan Credit Card limit increase?
The Modi government can also decide to increase the Kisan credit card limit. The government can now increase the loan amount of up to Rs 3 lakh through Kisan Credit Card to Rs 5 lakh directly. This government decision can lead to a significant increase in the number of people taking Kisan Credit Card.