New Delhi: Prime Minister Narendra Modi hailed the Budget 2025 presentation by Finance Minister Nirmala Sitharaman on Saturday (Feb 01). PM Modi said that the Union Budget 2025 as a ‘force multiplier’ and said, “The Viksit Bharat Budget 2025 reflects our Government’s commitment to fulfilling the aspirations of 140 crore Indians.”
Hours after the Budget was presented by Union Finance Minister Nirmala Sitharaman, Prime Minister Modi hailed it as a “people’s Budget that will boost savings and investment”.
“This is the budget of aspirations of 140 crore Indians. 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”, PM Modi said.
PM Modi also pointed out that, unlike previous budgets focused on filling government coffers, this one is designed to benefit citizens directly. "Usually the focus of the budget is on how the government treasury will be filled, but this budget is exactly the opposite of that. How will this budget fill the pockets of the citizens of the country, how will the savings of the citizens of the country increase and how will the citizens of the country become partners in development... this budget lays a very strong foundation for this," PM Modi remarked.
PM Modi also praised the reforms in the nuclear energy sector. "Encouraging the private sector in Nuclear Energy is historic. It will ensure a big contribution of Civil Nuclear Energy in the development of the country," he said.
The Prime Minister also stressed the importance of preserving India's heritage. "Today the country is moving ahead with the mantra of 'development as well as heritage'. Very important and concrete steps have been taken for this in this budget. In this budget, 'Gyan Bharat Mission' has been started for the preservation of one crore manuscripts," he added.
PM Modi highlighted the granting of infrastructure status to shipbuilding, which he said would promote domestic production, support self-reliance, create jobs, and unlock the potential for tourism growth. "The designation of infrastructure status will promote the construction of large ships in the country. Additionally, it will accelerate Atma Nirbhar initiatives. Shipbuilding is a sector that provides significant employment opportunities. Furthermore, the country has vast potential for tourism development," he noted.
Additionally, he announced a new scheme providing loans up to Rs 2 crore without guarantees for SC, ST, and women entrepreneurs. "A scheme of providing loans up to Rs 2 crore without guarantee has also been introduced for SC, ST, and women of the country who want to become new entrepreneurs," he said.
PM Modi underlining the inclusion of Gig Workers in the budget explained, "In this budget, a big announcement has been made for Gig Workers, keeping in mind the New Age Economy. For the first time, Gig Workers will be registered on the e-Shram portal and then they will get the benefit of health services."
The Prime Minister also hailed the announcement of tax relief for middle-class citizens. "In this budget, income up to Rs 12 lakh per annum has been made tax-free. For all income groups, taxes have been reduced. It will hugely benefit our middle class. Similarly, it will be an opportunity for the people who have recently joined the workforce," PM Modi added.
In a big bonanza for salaried taxpayers, Union Finance Minister Nirmala Sitharaman announced that there will be no income tax to be paid for income levels up to Rs 12 lakh. "There will be no income tax payable up to Rs 12 lakh - up to Rs 12.75 lakh including standard deductions - under the new regime," FM Nirmala Sitharaman said on Saturday as she read out the Union Budget 2025.
