Sri Vijaya Puram, Feb 2: Shri Bishnu Pada Ray, Hon’ble Member of Parliament, A & N Islands has hailed the Union Budget 2025.
“This is a people friendly budget which will help boost savings and investment”, he said in his message, post budget presentation today.
Major changes in the income tax slabs will bring major relief for the middle class. No income tax would be payable up to income of Rs 12 lakh. This limit will be Rs 12.75 lakh for salaried tax payers, due to standard deduction of Rs 75,000.
Similarly, another big announcement on the TDS front, where the annual limit on rent was raised from Rs 2.40 lakh to Rs 6 lakh, benefiting small taxpayers receiving smaller payments, will help the middle class in a big way, Ray opined.
While outlining the budgetary proposals to boost tourism, the FM announced that government will provide Mudra loans for homestay owners, enhancing hospitality services, especially in rural and emerging tourist destinations. This will greatly help new entrepreneurs in our Islands, Ray added.
“This budget will help boost agriculture, manufacturing, innovation and service sector”, he observed.
Overall this budget is development orienting with eye on making India the 3rd largest economy in the world”, Shri Ray said while giving preliminary reaction to budget proposals.