New Delhi [India], February 1 (ANI): Union Home Minister Amit Shah on Saturday congratulated Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman for the ‘comprehensive’ and ‘visionary’ budget.
Highlighting the Union government’s decision to exempt income tax up to Rs 12 lakh, Shah said that the middle class is always in Prime Minister Narendra Modi’s heart
Finance Minister Nirmala Sitharaman presented the 2025 budget in the parliament today.
Shah termed Budget 2025 as the blueprint of the Modi government’s vision towards building a developed and best India in every field.
“Budget 2025 is the blueprint of the Modi government’s vision towards building a developed and best India in every field,” the Union Minister said in a post on X.
“This budget, which covers every sector–from farmers, poor, middle class, women and children’s education, nutrition and health to start-ups, innovation and investment–is the roadmap for Modi ji’s self-reliant India,” he added.
https://x.com/AmitShah/status/1885587146154926177
“I congratulate Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for this comprehensive and visionary budget,” he added.
Shah, in another X post, said that the middle class is always in PM Modi’s heart.
“The proposed tax exemption will go a long way in enhancing the financial well-being of the middle class. Congratulations to all the beneficiaries on this occasion,” he added.
https://x.com/AmitShah/status/1885593379117117906
This comes after Finance Minister Nirmala Sitharaman, during her Union Budget 2025 speech, announced that no income tax will be payable on income up to Rs 12 lakh, providing significant relief to taxpayers, especially the middle class.
This limit will be Rs 12.75 lakh for salaried taxpayers, counting Rs 75,000 of standard deduction. She also stated that the new income tax regime will be simpler, with a special focus on benefiting the middle class.
But there is a catch: the exemption can be earned only if a taxpayer takes relief under various sections of the Income Tax Act, like the Rs 1.5 lakh exemption under section 80CCC and the exemption of Rs 1.5 lakh for paying interest on home loans.
Sitharaman says, “To taxpayers, up to Rs 12 lakh of normal income (other than special rate income such as capital gains) tax rebate is being provided in addition to the benefit due to slab rate reduction in such a manner that there is no tax payable by them.”
The announcement from the finance minister of this big relief to the middle class was met by loud thumping of the desks by the treasury benches led by PM Narendra Modi.
Meanwhil, the Lok Sabha was adjourned on Saturday following the presentation of the Union Budget by Finance Minister Nirmala Sitharaman. The House will reconvene on February 3 at 11 a.m.(ANI)
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