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New Delhi, Feb 1 (PTI) Union Home Minister Amit Shah on Saturday said the 2025-26 Union Budget 2025 is a blueprint of the Modi government's vision for building a developed country and that the middle class is always in Prime Minister Narendra Modi's heart.
Shah said the Budget covers every section from farmers to the middle class and every sector from nutrition and health, startups to innovation and investment. It is the roadmap for Modi's self-reliant India, he said.
"Zero Income Tax till Rs 12 Lakh Income. The proposed tax exemption will go a long way in enhancing the financial well-being of the middle class. Congratulations to all the beneficiaries on this occasion," the Union minister wrote on X with the hashtag 'ViksitBharatBudget2025'.
Congratulating Modi and Finance Minister Nirmala Sitharaman for the "comprehensive and visionary budget", Shah said, "Budget 2025 is the blueprint of the Modi government's vision towards building a developed and best India in every field." In a relief to the middle class, Sitharaman 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, she 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. PTI ACB DIV DIV
Income tax exemption expanded to benefit the middle class, with revised tax slabs and reforms to FDI and compliance. The Budget institutes a zero income tax exemption up to Rs 12 lakh and revises tax slabs to provide middle-class relief; it also raises FDI limits in the insurance sector, proposes simplification of tax laws, cuts duties on intermediaries, and provides enhanced fiscal support for welfare and sectoral reforms.Press 'Enter' after typing page number.