Money, jobs, and digital economy—why Gen Z should care about Budget 2025.
The Union Budget 2025 has brought in some exciting updates that directly or indirectly impact you. Whether you’re a student, young professional, freelancer, or entrepreneur, these changes will shape your financial future. Here’s a simplified breakdown of the main points:
More Savings, Less Tax!
- You do not have to pay any income tax if you earn up to ₹1 lakh per month. That means more money in your pocket to save, invest, or use to pay your daily bills.
- Those earning up to ₹12.75 lakh a year under the new tax regime will be taxed zero. A godsend for young professionals just starting their careers.
Increase for Startups & Small Enterprises
- Extension of Credit: Major Boost to MSMEs with Enhancement of support from ₹5 crore to 10 crore. For entrepreneurs, it’s now easier to access funds for your startup.
- The National Manufacturing Mission will support businesses of all sizes, bringing to the young entrepreneur the opportunities of “Make in India” more than ever.
The Twins: Education & Innovation at the Forefront
- 50 thousand Atal Tinkering Labs will be established in government schools in the next five years. This allows students better access to explore STEM (Science, Technology, Engineering, and Mathematics).
- ₹500 crore will be towards a Centre of Excellence in AI for Education for hands-on AI learning experiences for students and professionals.
Fixing Financial & Economic Security for Gig Economy Workers
- Identity cards and registration on the e-Shram portal will now be given to freelancers and gig workers.
- They will also be provided coverage under the PM Jan Arogya Yojana, which will ensure these people receive healthcare.
The Right to the City: Towards Better Urban Infrastructure & Housing
- This is where a ₹1 lakh crore Urban Challenge Fund that may be set up, will transform cities into economic centers, resulting in better job and living standards.
- The ₹15,000 crore SWAMIH Fund is said to benefit over 1 lakh stalled housing projects, setting the stage for home ownership to be more possible for younger buyers.
Boost for Tech, EVs and Green Energy
- The move will remove duties on EV and battery manufacturing goods, leading to cheaper and more efficient electric vehicles.
- ₹20,000 crore Nuclear Energy Mission with a focus on small modular reactors to aid clean energy and tech progress.
Improved Consumer Protections & Healthcare
- Increase in TDS on rent from ₹2.4 lakh to ₹6 lakh provided relief from tax on tenants.
- Removes Basic Customs Duty (BCD) on 36 lifesaving drugs used for cancer and rare diseases, making these essential medicines more affordable.
Taxation at the Lower Rate and More Agility
- Instead of two years, you now have four years to file updated income tax returns, allowing a little more leeway to correct mistakes.
- TCS payment gags were decriminalized, sparing businesses and freelancers horse-whipping over avoidable uses of the law.
CTRL+Z Takeaways
As the Government strives to realize the budget theme of ‘Sabka Vikas’, it’s up to us, as India’s biggest workforce and consumer base, Gen-Zs to hold the government accountable for its promises. Let’s stay informed, engaged and vocal about the issues that matter most to us.
Disclaimer: While we make every effort to ensure the accuracy and timeliness of the information provided, we cannot guarantee that all content is free from errors or omissions. Readers are encouraged to verify details independently before relying on this material.
