Panaji, Feb 1 (PTI) The Union Budget for 2025-26 reflects the Narendra Modi government's unwavering commitment to economic prudence, robust fiscal management and inclusive growth, Goa BJP chief Damodar Naik said on Saturday.

It reinforces India's strong macroeconomic fundamentals while ensuring that states like Goa benefit immensely from forward-looking policies, he added.

"The government has successfully brought down the fiscal deficit to 4.4 per cent of GDP, marking a significant improvement from the revised 4.8 per cent in FY25. This reflects responsible governance, reduced borrowings, and better control over public finances. Gross tax revenue is projected to grow by 10.7 per cent showing strong economic activity and effective tax administration," Naik said.

Enhanced GST compliance and direct tax collections have strengthened the fiscal position, benefiting states like Goa, he added.

Measures announced in the budget not only strengthen the country's financial health but also lay a solid foundation for future development, Naik said.

"The budget prioritizes Goa's tourism sector, identifying it among 50 top destinations to be developed in partnership with states. Increased funding for infrastructure, heritage tourism, and sustainable tourism practices will further bolster Goa's global appeal. The continued expansion of coastal and air connectivity, including new flight routes, will attract more domestic and international visitors, boosting employment and local businesses," he said.

The hike in income tax rebate to Rs 12 lakh will help the middle class and professionals and ensure higher disposable incomes, which will lead to increased spending, investment, and economic activity, the BJP leader said.

"More disposable income means better savings, increased purchasing power, and overall improvement in the standard of living for Goans," he said. PTI RPS BNM

Fiscal consolidation pursued through stronger tax administration and spending on infrastructure to support growth and state development. The budget advances a framework of fiscal consolidation by targeting a lower fiscal deficit and higher gross tax receipts through enhanced GST compliance and direct tax collections to reduce borrowings and sustain macroeconomic stability while preserving space for public investment. It further directs targeted measures for state-led development in tourism and infrastructure, and expands an income tax rebate to increase disposable incomes and stimulate consumption and local economic activity.