Prime Minister Narendra Modi emphasised that India has reached a new milestone when it comes to the People’s Budget. Prime Minister Narendra Modi hailed the Union Budget 2025 as a “force multiplier,” emphasizing how it will help 140 crore Indians realize their dreams.
PM Modi announced that the new tax regime will greatly benefit middle-class citizens and salaried employees, providing significant relief. The revised tax slabs introduce a progressive structure, with zero tax for incomes up to ₹4 lakh and reduced rates for higher slabs.
PM Modi called it a people’s budget, which will boost the economy. He said the financial roadmap is another big step towards Viksit Bharat. “This is a budget that fulfils the dreams of every Indian. We have opened many sectors for the youth. The common citizen is going to drive the mission of Viksit Bharat”, he said.
He emphasized the budget’s emphasis on infrastructure and youth opportunities, especially in the shipbuilding and tourist sectors. Modi praised Finance Minister Nirmala Sitharaman for drafting a budget that encourages investment, growth, and savings for the good of all citizens
Applauding FM he said this she did while sticking to the fiscal consolidation roadmap that projected the fiscal deficit to come down to 4.4 per cent of the GDP in the financial year 2025-26. For the current financial year fiscal deficit has been pegged at 4.8 per cent of GDP.
To bridge the fiscal deficit gap, the government is set to raise resources from the market to the tune of Rs. 11.54 lakh crore on a net basis for the next fiscal year.
Further, he added that typically, the budget focuses on how the government treasury will be stocked, but this budget does the exact opposite. This budget provides a solid basis for how the country’s residents will become partners in growth, how their savings will grow, and how their pockets will be filled thanks to this budget.
This budget includes a number of significant reform initiatives. It is historic to support nuclear energy in the private sector. It will guarantee that civil nuclear energy plays a significant role in the nation’s growth,” the prime minister continued.
The PM emphasised that it’s People’s Budget owing to no income tax for income up to Rs12 lakh under the new regime. The PM said that the Union government decided to exempt income tax up to Rs.12 Lakh. This limit will be Rs 12.75 lakh for salaried taxpayers, counting Rs. 75,000 of standard deduction.
This budget includes a number of significant reform initiatives. It is historic to support nuclear energy in the private sector. It will guarantee that civil nuclear energy plays a significant role in the nation’s development,” he continued.
“Every job sector has been given attention in the budget in every manner. I would like to talk about the measures that will significantly alter the future. The Prime Minister stated, “The Atmanirbhar Bharat Abhiyan will gain momentum as a result of providing infrastructure status, which will encourage the construction of large ships in India.”
PM Modi also hailed ‘infrastructural status granted to shipbuilding industry and tourism in India. “As everyone knows, the industry that creates the most jobs is shipbuilding. In a similar vein, the nation has enormous potential for tourism. For the first time, hotels will be constructed at 50 significant tourist destinations. By placing hotels under the purview of infrastructure, tourism will significantly increase. The hospitality industry, which employs a large number of people, will benefit from this,” he continued.
The Prime Minister declared, “The announcement made for farmers in the budget will become the basis of a new revolution in the agriculture sector and the entire rural economy.” “The Gyan Bharat Mission has been started in this budget for the preservation of one crore manuscripts,” he added. They will benefit more when the “Kisan Credit Card” limit is raised to Rs 5 lakhs.
Amid Opposition benches chanting the missing mention of farmer demands on MSP, PM Modi said, “PM Modi says Budget’s announcements for farmers will revolutionise agriculture sector and rural economy.”
