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Prime Minister Narendra Modi praised the Union Budget 2025, calling it a “People’s Budget” that accelerates savings, investment, and growth. He also said this would benefit the middle class.
PM Narendra Modi hails Union Budget 2025 (Video screengrab/PTI)
Prime Minister Narendra Modi on Saturday hailed the Budget 2025 announcements as made by Finance Minister Nirmala Sitharaman, and said the tax relief will provide big benefit to the middle class and salaried employees. He also said that this year’s budget shows the government’s commitment to fulfilling the aspirations of 140 crore Indians.
Addressing the nation over the Union Budget 2025, the Prime Minister said, “The tax relief will provide big benefit to the middle class, the salaried employees”.
“In this budget, income up to Rs 12 lakh per annum has been made tax-free. For all income groups, taxes have been reduced. It will hugely benefit our middle class. It will be an opportunity for the people who have recently joined the workforce,” he added.
“Today is an important milestone in India’s development journey. This is the budget of aspirations of 140 crore Indians.”
“This is a budget that fulfils the dreams of every Indian. We have opened many sectors for the youth. The common citizen is going to drive the mission of Viksit Bharat,” he added.
Prime Minister Modi also said that, “This budget is a force multiplier, and will increase savings, investment, consumption and growth rapidly. I congratulate Finance Minister Nirmala Sitharaman and her entire team for this Janta Janardan’s, People’s budget.”
“Usually, the focus of the budget is on how the government treasury will be filled, but this budget is exactly the opposite of that. How will this budget fill the pockets of the citizens of the country, how will the savings of the citizens of the country increase and how will the citizens of the country become development partners… This budget lays a very strong foundation for this,” PM Modi said.
“In terms of reforms, many important steps have been taken in this budget. Encouraging the private sector in nuclear energy is historic. It will ensure a big contribution of Civil Nuclear Energy in the development of the country,” he added.
“In the budget, priority has been given to all the sectors of employment in every way. I would like to discuss those reforms which are going to bring a big change in the coming times. Due to giving an infrastructure status, the construction of big ships in India will be encouraged, the Atmanirbhar Bharat Abhiyan will get momentum,” the Prime Minister said.
“We all know that shipbuilding construction is the sector that gives maximum employment. Similarly, there is a lot of potential for tourism in the country. Hotels will be built at 50 important tourist stations, for the first time, by bringing hotels under the ambit of infrastructure, tourism will get a big boost. This will give energy to the hospitality sector, which is a very big sector of employment,” he added.
“In this budget, the Gyan Bharat Mission has been started for the preservation of one crore manuscripts,” the Prime Minister said, adding, “The announcement made for farmers in the budget will become the basis of a new revolution in the agriculture sector and the entire rural economy. The limit of ‘Kisan Credit Card’ will be increased to Rs 5 lakhs, which will help them more.”
UNION BUDGET 2025
In a relief to the middle class, Finance Minister Nirmala Sitharaman on Saturday exempted annual income of up to Rs 12 lakh from income tax and rejigged tax slabs as part of her reformist budget.
Presenting her eighth straight budget in the Lok Sabha, Sitharaman laid out a blueprint for next-generation reforms including raising the FDI limit in the insurance sector, simplification of tax laws, and cutting duties on intermediaries while providing enhanced fiscal support for welfare measures.
This she did while sticking to the fiscal consolidation roadmap that projected the fiscal deficit to come down to 4.4 per cent of the GDP in the financial year 2025-26.
For the current financial year fiscal deficit has been pegged at 4.8 per cent of GDP.
To bridge the fiscal deficit gap, the government is set to raise resources from the market to the tune of Rs 11.54 lakh crore on a net basis for the next fiscal year.
