Budget 2025: Big news regarding the budget, the budget session of Parliament will start from January 31, Finance Minister Sitharaman will present it on this day.

Budget 2025: Budget session of Parliament (Parliament budget session) will start from January 31st. There will be an address by President Draupadi Murmu on the first day. After this, Budget-2025 will be presented on 1 February. Finance Minister Nirmala Sitharaman will present the eighth budget of the country. The budget session of Parliament is proposed from January 31 to April 4. The first phase of the budget session will run from 31 January to 13 February and the second phase will run from 10 March to 4 April. During this period, the Economic Survey will be presented after the joint meeting of both the Houses of Parliament.

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Central Affairs Minister Kiren Rijiju gave this information in a post on 'X'. He said that President Draupadi Murmu, on the recommendation of the Government of India, has approved convening of both the Houses of Parliament for the Budget Session 2025 from January 31, 2025 to April 4, 2025 (subject to exigencies of Parliamentary business).

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Second phase of the session starts from March 10

The second phase of the session will begin on March 10 and is likely to continue till April 4. A total of 27 meetings are proposed in the budget session. Rijiju said both the Houses may adjourn for vacation on February 13 and will meet again on March 10 to discuss the demands for grants of various ministries and departments.

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First full budget of the third term of Modi government

This will be the first budget session of the third term of Prime Minister Narendra Modi. Modi government will present the full budget after the eighteenth Lok Sabha elections. There was a huge uproar in the winter session held before this. Most of the winter session of Parliament was marred by uproar.

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Know what can come out of Nirmala Sitharaman's box

There may be changes in tax slabs
The government may consider making further changes in the income tax slabs under the new tax regime to encourage more taxpayers to adopt it. In particular, there is speculation that the 30% tax rate may be implemented at income levels above ₹20 lakh. Also, the annual income of Rs 5 lakh will be given to Modi government. tax slab Can reduce to zero.

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Tax slab under new tax regime
₹0-₹3 lakh: Nil
₹3-₹7 lakh: 5%
₹7-₹10 lakh: 10%
₹10-₹12 lakh: 15%
₹12-₹15 lakh: 20%
Above ₹15 lakh: 30%

Increase in standard deduction
The government may once again change the limit of standard deduction. Last time it was increased under the new tax system. This time, the standard deduction limit can be increased under the old tax regime. Currently, salaried employees and pensioners enjoy a standard deduction of ₹50,000 under the old tax regime and ₹75,000 under the new regime. Experts say that it can be increased to Rs 1 lakh.

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Increasing deduction limit of section 80C
Finance Minister Nirmala Sitharaman may also increase the limit of deduction under Section 80C this time in the Union Budget 2025. At present the maximum limit of deduction under section 80C is ₹ 1.5 lakh. However, due to inflation and increasing financial pressure on taxpayers, experts are demanding the government to increase this limit further. This can be increased to at least Rs 2 lakh annually.

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