Union Budget 2025 | Pension: Comparative look at allocation over past five years

Finance Minister Nirmala Sitharaman on Saturday presented a record eighth consecutive Union Budget in the Parliament.

Sitharaman's announcement on changes in the income tax system understandably grabbed the headlines, with the government announcing tax exemption for salaried people earning up to Rs 12 lakhs annually under the New Tax Regime.

Tax slabs, meanwhile, were revised, and will be applicable for people earning above the specified bracket, under the New Tax Regime. The government is also slated to bring the new Income Tax Bill in the Parliament in the coming week, something that is expected to provide more clarity on taxation.

Beyond taxes, the Budget also identified the following areas as priorities: MSME sector, farmers, women, the education sector, and boosting of exports. FM Sitharaman also announced duty exemption for life-saving medicines, and exemption of customs duty for certain other essential items.

Here, we look at allocations for pension over the past five Budgets, based on budgeted estimates.

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Union Budget 2025 | Nirmala Sitharaman, as Finance Minister, presented her record 8th Union Budget this time. While inflation has burnt a hole in the pockets of 'aam janata', the Modi govt gave income tax relief for those making up to Rs 12 lakh per year in salaried income. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.