The Union Budgets under Prime Minister Narendra Modi over the past 11 years have played a pivotal role in driving transformation and policy reforms. These budgets have focused on enhancing the ease of doing business for various sectors, including MSMEs and startups, while also boosting the purchasing power of the general populace.
In the initial Union Budget of 2014-15 under PM Modi’s leadership, key changes were introduced. Notably, the personal income tax exemption limit was raised, and the investment limit under Section 80C was increased, benefitting taxpayers and investors.
Furthermore, significant steps were taken to attract global investments and revamp infrastructure. The FDI cap in defense and insurance sectors was raised, and a plan to develop 100 Smart Cities was unveiled, aiming to modernize urban centers across the nation.
Moving forward to the recent Union Budget 2025-26, the government has continued its reform agenda with a focus on tax policy changes. These reforms encompass corporate tax adjustments and liberalized individual taxation, aimed at enhancing savings and disposable income for salaried individuals.
The latest budget also includes provisions to support farmers, promote self-reliance in agriculture, boost manufacturing through incentives, and invest in research and development, signaling a commitment to economic growth and job creation.
