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Chhattisgarh Chief Minister Vishnu Deo Sai lauded the Union Budget 2025, and said the tax relief announced in this budget will largely benefit middle-class people and also enhance their buying power, ultimately resulting in the development of the state as well as the nation.
Taking a jibe at the Congress party, he said a one time, people had to pay taxes even on Rs 2 lakh income but now exemption has been provided for income up to Rs 12 lakh. "During Congres's tenure, people had to pay tax on Rs 2 lakh but today the provision of no tax upto Rs 12 lakh was announced in the Union Budget," CM Sai told reporters here. The third budget of Prime Minister Narendra Modi's government tabled today is "one that will fulfil the dreams of common people," said CM Sai while extending his greetings to Finance Minister Nirmala Sitharaman and her entire team. "Such a budget can only be presented" by the BJP government, said Sai, adding that this budget will "fulfil the promise" of 'Viskit Bharat' given by Prime Minister Narendra Modi. "This budget will prove to be a boon for farmers as the limit of the Kisan Credit Card has been increased from Rs 3 lakh to Rs 5 lakh. The move will benefit Chhattisgarh as the major population here is farmers," he said. "Now the farmers will able to do farming in a better way by obtaining credit" The Chief Minister also highlighted the provisions made in the budget for MSME, healthcare and other sectors. "This budget is very good and Chhattisgarh will benefit from it," he said. "The budget has focused on everyone." Union Finance Minister Nirmala Sitharaman presented the Union Budget 2025 in the Lok Sabha outlining a roadmap for India's continued economic expansion, emphasizing agriculture, micro, small, and medium enterprises (MSMEs), investment, and exports. Finance Minister Nirmala Sitharaman, during her Union Budget 2025 speech, announced that no income tax will be payable on income up to Rs 12 lakh, providing significant relief to taxpayers, especially the middle class. "To taxpayers up to Rs 12 lakh of normal income (other than special rate income such as capital gains) tax rebate is being provided in addition to the benefit due to slab rate reduction in such a manner that there is no tax payable by them," said Sitharaman. The announcement from the Finance Minister of this big relief to the middle class was met by a loud thumping of the desks by the treasury benches led by PM Narendra Modi. The finance minister announced changes in income tax slabs and rates across the board, ensuring a more progressive taxation system. Sitharaman said, "Slabs and rates are being changed across the board to benefit all tax-payers. The new structure will substantially reduce the taxes of the middle class and leave more money in their hands, boosting household consumption, savings and investment." Under the new tax slabs income of up to Rs 4 lakh will have to pay Nil tax hiked from Rs 3 lakh. A taxpayer in the new regime with an income of Rs 12 lakh will get a benefit of `Rs 80,000 in tax. A person having an income of Rs 18 lakh will get a benefit of Rs 70,000 in tax. A person with an income of Rs 25 lakh gets a benefit of Rs 1,10,000 under the new tax slabs. (ANI)
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