Tuesday, Mar 18 2025 | Time 12:17 Hrs(IST)
Business EconomyPosted at: Feb 1 2025 4:20PM


Budget 2025 aligns with PM's Vikhsit Bharat vision: Bommai

Bengaluru, Feb 1 (UNI) The Union Budget 2025-26, presented by Finance Minister Nirmala Sitharaman in the Lok Sabha on Saturday, has offered a surprise gift to the middle class by significantly boosting their savings.
Former Chief Minister and Member of Parliament Basavaraj Bommai described the budget as one that strikes a balance between both economic and social sectors.
Speaking to the media after the presentation of Budget, he hailed it as a development-oriented budget that aligns with Prime Minister Narendra Modi's vision of a self-reliant India by 2047.
Bommai praised the government's ability to maintain an economic and social equilibrium, placing a priority on the well-being of the poor, farmers, women, youth, and SC/ST communities.
The former Chief Minister emphasised that the budget brings a welcome boost to the middle class by increasing their tax exemption limit to Rs 12 lakh, a move that surprised many who had anticipated a limit of Rs 10 lakh.
"This budget is a pleasant surprise for the middle class, significantly enhancing their savings. Prime Minister Modi and Finance Minister Sitharaman have made a bold move by increasing the exemption limit to Rs 12 lakh, far beyond the expectations of many," the BJP MP said.
He further highlighted that the budget puts a significant focus on self-reliance, particularly in the agriculture sector, with an emphasis on research and indigenous technology. Steps have been taken to ensure self-sufficiency in urea, fertilizers, and seed production, while also promoting self-employment in rural areas.
The budget aims to curb rural-to-urban migration by investing in infrastructure, including railways and roads. Special attention has been given to health and education sectors, with a focus on cancer prevention in healthcare.
Bommai also pointed out that the Union government has announced an interest-free loan of Rs 1.5 lakh crore for states over a 50-year period, with Karnataka expected to receive Rs 7,000 to Rs 8,000 crore. This move, he stated, would aid in sustaining the development momentum.
The former CM concluded by saying that the Union Budget is forward-looking and progressive, with GDP growth projected to reach 7-8 percent by 2025-26. Tax reforms, including customs changes, as well as a focus on cancer treatment, electronics, medical sciences, and emerging technologies, further demonstrate the budget’s emphasis on inclusive growth and innovation, he added.
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