Bhopal, Feb 1 (IANS): Madhya Pradesh Minister of Sports and Youth Welfare, Vishwas Sarang on Saturday hailed the Union Budget 2025 presented by Finance Minister Nirmala Sitharaman, calling it both development-oriented and welfare-driven.
Speaking to IANS, Vishwas Sarang praised the budget's focus on various sectors, emphasising its commitment to the welfare of the poor, youth, farmers, and women.
"This is a budget that focusses on GYAN — Garib, Yuva, Annadata, and Nari Shakti," Sarang remarked.
"The welfare of every section, the development of every sector, is represented in this budget. New dimensions have been established for education, health schemes, agriculture, and farmers. The credit limit for farmers has been increased to Rs 5 lakh, which is a commendable move," he said.
Sarang further emphasised that the budget was designed to strengthen India's foundation, laying the groundwork for the nation to be established as a developed economy by 2047.
He congratulated Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for their leadership in crafting this forward-looking budget.
In contrast, Sarang criticised Congress MP Rahul Gandhi’s remarks about the Union Budget, calling his comments unqualified and misleading.
The Leader of Opposition in the Lok Sabha (LoP) Rahul Gandhi had questioned the lack of representation of marginalised communities in the decision-making process behind this year's Union Budget.
"Rahul ji does not understand the basics of budgeting," Sarang claimed and added, "his criticism is negative and uninformed. The budget has made significant strides for farmers, co-operatives, and the youth, and it stands strong in every respect."
In a big boost to the Indian middle class, FM Sitharaman on Saturday announced that there will be no income tax payable for incomes up to Rs 12 lakh, and Rs 12.75 lakh for salaried taxpayers (including standard deduction).
In the new tax regime, the revised tax rate structure is Rs 0-4 lakh (zero tax), Rs 4-8 lakh (5 per cent), Rs 8-12 lakh (10 per cent), Rs 12-16 lakh (15 per cent), Rs 16-20 lakh (20 per cent), Rs 20-24 lakh (25 per cent), and above Rs 24 lakh (30 per cent).