Jodhpur (Rajasthan) [India], February 2 (ANI): Rajasthan BJP President Madan Rathore has lauded the provisions in the Union Budget 2025, and called it a “blessing for the middle class.”
Speaking to ANI, Rathore emphasised that the Budget has been a blessing for the middle-income group, particularly with the announcement of a complete income tax exemption for those earning up to Rs 12 lakh annually.
“This Budget proved to be a blessing for the middle class. Nobody could have imagined that an income of up to Rs 12 lakh would get a complete exemption from income tax. This Budget is not for the elections. Its purpose is to empower the common public,” he said.
Notably, tax experts, industry observers, and banking leaders have lauded the Union Budget 2025-26 for its focus on economic growth, tax relief, and innovation across sectors.
The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman in Lok Sabha on Saturday, provided major relief to the salaried class with no income tax on an average monthly income of up to Rs one lakh to boost household savings and consumption with the government also giving thrust to four engines of development – agriculture, MSMEs, investment and exports.
The Finance Minister’s announcement on tax relief means that the salaried class will pay nil income tax up to Rs 12.75 lakh.
Opposition parties slammed the Budget, saying that it was silent on the problem of unemployment and accused the government of “throttling MGNREGA.”
Sitharaman announced that Prime Minister Dhan-Dhaanya Krishi Yojana will cover 100 low agricultural productivity districts. She said that the government will embark on a ‘Mission for Aatmanirbharta in Pulses’ with a special focus on tur, urad and masoor to be launched.
The Minister said that FY-25 is estimated to end with a fiscal deficit of 4.8 per cent and the target is to bring it down to 4.4 per cent in FY 26. The minister announced the enhancement of credit with guarantee cover to MSMEs from Rs 5 crore to Rs 10 crore.
She announced a National Manufacturing Mission covering small, medium and large industries for furthering the Make in India initiative. There will be 50,000 Atal Tinkering Labs in government schools in the next five years, a Centre of Excellence in Artificial Intelligence for education, with a total outlay of Rs 500 crore. (ANI)
Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News
HINDI, MARATHI, GUJARATI, TAMIL, TELUGU, BENGALI, KANNADA, ORIYA, PUNJABI, URDU, MALAYALAM
For more details and packages
