1 February is the day of presenting the budget of the Modi government. People have a lot of expectations and apprehensions from Finance Minister Nirmala Sitharaman. The bullion market, investors, and jewelry buyers are constantly keeping an eye on what will be the government’s attitude towards gold in the Union Budget 2025. It is being speculated that the government may increase the import duty on gold in the budget.

At the same time, the Ministry of Road Transport and Highways will lay a network of NH-Expressways across the country with a budget of three lakh crore rupees. Finance Minister Nirmala Sitharaman is expected to increase the Samman Nidhi to Rs 12000 for crores of beneficiaries associated with the PM Kisan Samman Nidhi Yojana. At the same time, experts hope that the Finance Minister will give income tax concessions to salaried persons and will also focus on agriculture, health care and defense sectors.

Experts suggest that Finance Minister Sitharaman should encourage home ownership under the new tax regime. Budget 2025 is also likely to give some concessions to taxpayers. The new tax regime can be made more attractive. Some announcements are also expected to encourage investment by the private sector.

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The post Tax slabs Change: There may be a change in the tax slabs of the new income tax regime first appeared on Rightsofemployees.com.

The countdown for the Union Budget has begun. On Saturday, February 1, Finance Minister Nirmala Sitharaman will present the general budget in Parliament. Before this, taxpayers have high expectations from the government regarding income tax exemption. Along with reduction in income tax, there is a demand to make the tax slab more flexible and increase the standard deduction.

Reports suggest that Finance Minister Nirmala Sitharaman may announce major changes in the new tax regime by increasing the basic exemption limit from Rs 3 lakh to Rs 10 lakh. Apart from this, a new tax slab of 25 percent can be introduced for income between Rs 15 lakh and Rs 20 lakh.

At present, those earning more than Rs 15 lakh have to pay tax at a slab rate of 30 per cent. If a new slab is introduced in Budget 2025, the tax rate of 30 per cent will be applicable on income above Rs 20 lakh.

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The post Budget 2025 Expectations: Zero tax on income of 10 lakhs, standard deduction will also increase first appeared on Rightsofemployees.com.

The Union Budget will be presented in Parliament on February 1, 2025 and Finance Minister Nirmala Sitharaman will present the roadmap for the next few years of the Modi government in this budget, with which the expectations of crores of people of the country are linked. There are many possibilities in this budget for the central government to fulfill crores of expectations. Now in this episode, good news has also come regarding the loan limit of Kisan Credit Card.

Thoughts on increasing the limit of Kisan Credit Card

An official or source associated with the Finance Ministry said that the loan limit under the Kisan Credit Card can soon be increased to Rs 5 lakh, which is currently Rs 3 lakh. Currently, farmers get a loan of up to Rs 3 lakh through Kisan Credit Card, the limit of which can be increased to Rs 5 lakh in this budget. In the budget, the government is planning to increase the credit limit of Rs 3 lakh to Rs 5 lakh. This information has been received according to a news of Business Standard.

There has been a demand for increasing the KCC limit in front of the government for a long time

The government constantly receives demands to increase the limit of Kisan Credit Card and the loan limit of KCC was increased a long time ago. Since last time, it has remained at Rs 3 lakh. The government is thinking of increasing the loan limit on Kisan Credit Card from Rs 3 lakh to Rs 5 lakh because this will help the farmers, especially small and marginal farmers and after this, an increase in rural demand can also be seen, through which the economy of the villages will also improve.

What is Kisan Credit Card

Kisan Credit Card (KCC) Scheme is a scheme of the Government of India. Under this, farmers are given timely and adequate loans for farming purposes. Under this scheme, farmers get many benefits-

Farmers can take loans for various agricultural needs from one place and the application process is easy. Farmers are given 2 percent interest discount and 3 percent quick repayment incentive. The government gives 2 percent discount on interest to farmers.

Farmers who repay the loan on time get an additional 3 percent reduction in interest as an incentive. In this way, farmers get loans at an annual rate of 4 percent. Farmers get cover of crop insurance, accident insurance, health insurance, and asset insurance. There is a reduction in interest rate on agricultural loan if it is repaid on time.

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The post Budget Expectations: Kisan Credit Card Limit could be Increased by 5 Lakhs From 3 Lakh Rupee first appeared on Rightsofemployees.com.