### Key Highlights:
1. **Income Tax Reforms**:
- No income tax for individuals with an average monthly income of up to ₹1 lakh.
- Salaried individuals earning up to ₹12.75 lakh per annum will pay no tax due to the standard deduction.
2. **Engines of Development**:
- Agriculture, MSMEs, Investment, and Exports are identified as key drivers of growth.
- Initiatives to benefit farmers, including the 'Prime Minister Dhan-Dhaanya Krishi Yojana', are aimed at improving productivity in 100 districts.
3. **Support for Agriculture**:
- A mission focused on pulses (Tur, Urad, Masoor) will be launched.
- Loans through the Kisan Credit Card scheme will increase from ₹3 lakh to ₹5 lakh.
4. **MSMEs**:
- Investment limits for MSMEs are enhanced to strengthen support and efficiency.
- A new initiative for term loans up to ₹2 crore for first-time women and marginalized entrepreneurs.
5. **Investment Initiatives**:
- Establishment of 50,000 Atal Tinkering Labs in government schools.
- Increased focus on broadband connectivity in rural areas and urban infrastructure development through a ₹1 lakh crore Urban Challenge Fund.
6. **Exports and International Trade**:
- An Export Promotion Mission will assist MSMEs in navigating export markets.
- A digital platform, ‘BharatTradeNet’, will simplify trade documentation.
7. **Taxation Adjustments**:
- New direct tax slabs introduced; TDS threshold on rent raised from ₹2.4 lakh to ₹6 lakh.
- TDS on interest earned by senior citizens doubled to ₹1 lakh.
- Updated returns can now be filed up to four years after assessment.
8. **Fiscal Measures**:
- Estimated fiscal deficit for FY 2025-26 is projected at 4.4%, down from 4.8% in FY 2024-25.
- Total expenditure estimated at ₹50.65 lakh crore for FY 2025-26.
9. **Customs and Duties**:
- BCD exempted on 36 lifesaving drugs; several measures to rectify inverted duty structures and promote domestic manufacturing are proposed.
- Export incentives for fisheries and crafts are included, along with reductions in BCD for specific categories.
10. **Other Significant Proposals**:
- Introduction of the Jan Vishwas Bill 2.0 to decriminalize over 100 legal provisions.
- Health care support for gig workers under PM Jan Arogya Yojana.
### Overall Goals:
The budget aims to achieve inclusive growth, boost the middle class, stimulate savings and consumption, and enhance India’s global competitiveness through targeted reforms and investments.
The theme revolves around "Sabka Vikas" (Development for All), emphasizing the need for a holistic approach in addressing the needs of different socio-economic groups and promoting sustainable growth across various sectors.
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