Budget FY25: More Jobs, Pay Hikes, & Startup Boost? - by Reema Batra Singh - CollectLo

Budget FY25: More Jobs, Pay Hikes, & Startup Boost?

Reema Batra Singh - CollectLo

Reema Batra Singh

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3 min read . Jul 25

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Hey guys,

Many people are excited over Finance Minister Nirmala Sitharaman's just dropping of the Union Budget for the next fiscal year. 👼 Let's dissect the salient features in simple terms to find out what is in store for us!

Positive News for Workers and Startups 🎉

  • Should you be salaried, be ready for a little extra in your pocket! Under the proposed tax system, the standard deduction is rising to ₹75,000. Chasing! 👀 💰
  • Angel Investors Rejoice: Startups also are receiving some affection! For all investors, the angel tax is being eliminated, creating more financing possibilities.
  • Jobs, Jobs, Jobs: Three new initiatives by the government aim to increase employment—especially in manufacturing—by means of greater employment possibilities and maybe higher salaries. 🚜 Farmers and MSMEs in Focus
  • A staggering ₹1.52 lakh crore is being set aside for agriculture and allied industries. additional study and development in this field should be expected, which will improve crops and create additional farmer possibilities. 🌱 Industrial Parks Coming to Town: The government intends to establish industrial parks close to one hundred cities, thus generating more employment and so strengthening the local economy.

All over, the economy is in good shape 💪

The Finance Minister claims inflation is under control and headed towards the 4% objective. For our wallets, this is welcome news since it indicates that costs shouldn't climb too much. 🦒