New Delhi, Feb 1 (PTI) BJP president J P Nadda on Saturday hailed the Union Budget as a "visionary roadmap" that embodies the aspirations of 140 crore Indians and lights the way towards Prime Minister Narendra Modi's vision of 'Viksit Bharat.' Presenting the Union Budget for 2025-26 in Lok Sabha, Union Finance Minister Nirmala Sitharaman made a slew of announcements, including exempted annual income of up to Rs 12 lakh from income tax and rejigged tax slabs.

In her budget speech, she laid out a blueprint for next generation reforms, including raising FDI limit in insurance sector, simplification of tax laws, cutting duties on intermediaries while providing enhanced fiscal support for welfare measures.

"The Union Budget 2025 is a visionary roadmap that embodies the aspirations and dreams of 140 crore Indians, lighting the way towards PM Narendra Modiji’s vision of a 'Viksit Bharat,'" Nadda said in a post on X, By focusing on the four engines -- agriculture, MSME, investment, and export --, the "Viksit Bharat Budget 2025" will drive the aspirations of poor, youth, farmers and women, ensuring that no one is left behind on the road to progress, he said.

"I express my gratitude to our PM Modi, congratulate Finance Minister Nirmala Sitharaman and her team for the visionary and futuristic, growth oriented and all inclusive Budget," the BJP chief added. PTI PK. PK VN VN

Income tax exemption for specified annual incomes announced, reshaping tax slabs and advancing tax and investment reforms. The Union Budget 2025 introduces key tax measures including a temporary exemption of annual income up to a specified threshold from income tax and revised tax slabs, coupled with plans to simplify tax laws. It also announces raising FDI limits in insurance, duty reductions on intermediaries, and enhanced fiscal support for welfare, directed toward promoting agriculture, MSMEs, investment and exports for inclusive development.