Panaji, Feb 1 (PTI) Goa Chief Minister Pramod Sawant hailed the Union Budget for 2025-26 and said the move to not tax income up to Rs 12 lakh was a landmark one which will provide significant relief to the middle class, foster greater savings and investments.

"I wholeheartedly welcome the Viksit Bharat Budget 2025 presented by Union Minister for Finance & Corporate Affairs Nirmala Seetharaman under the visionary leadership of Prime Minister Narendra Modi," he said.

The budget outlines 10 broad development measures under the four pillars of Viksit Bharat, namely 'Nari Shakti, Yuva Shakti, Annadata, and Gareeb Kalyan', which will pave the way for a stronger and more prosperous India, Sawant said.

"The budget introduces transformative reforms in taxation, the power sector, urban development, mining, financial regulations, and export promotion. It also prioritizes tourism-driven economic growth, employment generation, shipbuilding, fisheries, and enhanced private sector participation in innovation," he added.

By focusing on accelerating growth amidst global uncertainties, investing in infrastructure, and empowering human resources, this budget reaffirms the commitment to "Kartavya Kaal" and ensures collective efforts drive India towards the vision of Viksit Bharat by 2047, he said. PTI RPS BNM

Tax exemption threshold increased; middle class relief expands, encouraging savings, investment and greater private sector participation. A fiscal measure exempts personal income up to a specified threshold from income tax to provide relief to middle income taxpayers and stimulate household savings and private investment; the change is framed as a central tax reform affecting disposable income and economic behaviour.