Updated 13:46 IST, February 1st 2025
Budget 2025: What Gets Expensive? Check Full List
Budget 2025: Finance Minister Nirmala Sitharaman asserted that the Indian economy is fastest-growing among all developing economies.

Union Budget 2025 Live: Union Finance Minister Nirmala Sitharaman began her eighth consecutive Union Budget 2025 presentation in the Lok Sabha at 11 am on Saturday. Presenting the 14th consecutive Budget under the Narendra Modi government since 2014, Sitharaman said, "Together we embark on journey to unlock our potential for greater prosperity." She asserted that the Indian economy is fastest-growing among all developing economies.
In a major relief for the middle class, the Finance Minister announced that taxpayers with salaries up to Rs 12 lakh would no longer have to pay taxes under the new tax regime.

Budget 2025: What gets expensive? Check here
To address the inverted duty structure, the government has proposed raising the basic customs duty on interactive flat panel displays from 10 percent to 20 percent.
Finance Minister Nirmala Sitharaman stated that this measure aims to correct the existing duty imbalance.
Budget 2025: What gets cheaper? Check here
- As many as 36 drugs for cancer and rare diseases will be exempted from basic customs duty.
- The government has proposed to exempt basic customs duty on an additional 37 medicines.
- The Centre plans to fully exempt cobalt products, LED, zinc, lithium-ion battery scrap, and 12 critical minerals from basic customs duty.
- Basic customs duty on raw materials for ship manufacturing will be exempted for another 10 years.
- The duty on fish pasteurii will be reduced from 30% to 5%.
- The Centre has also introduced a scheme to further promote handicraft exports.
- The government will fully exempt wet blue leather from basic customs duty.
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Published 11:46 IST, February 1st 2025