Prayagraj (Uttar Pradesh) [India], February 4 (HBTV): Uttar Pradesh Chief Minister Yogi Adityanath lauded the Union Budget presentation by Finance Minister Nirmala Sitharaman, stating that the Prime Minister has categorised the budget into four parts: the poor, youth, farmers, and women. He emphasised that the budget lays the foundation for achieving the steps needed to fulfil the vision of 'Viksit Bharat' (Developed India).

CM Yogi Adityanath said, 'Under the vision of PM Modi, the finance minister has tabled the Union Budget 2025 today. This budget is the foundation stone for achieving the steps taken to attain the rest of Viksit Bharat. PM Modi has categorised this budget into four parts: the poor, youth, farmers, and women. Under the leadership of PM in the last ten and a half years, the economy has developed, and with this budget, it will grow further. The interest-free loan for improving infrastructure will benefit the states.'

He further highlighted that the middle class will receive several benefits, such as exemptions in tax rebates, calling it a positive step.

'Creation of a special economic zone for fishermen, loans up to INR 5 lakh for dairy, loans to farmers at low interest rates, the cotton production mission, stress on improving crop and fruit production, and the announcement of the Anganwadi 2.0 programme would be extremely crucial. The best thing is that under the leadership of PM Modi, the government aims to extend benefits to the last person in society. In the next five years, a proposal to start a new scheme to provide term loans up to INR 2 crore to five lakh women, SC, and ST individuals has been introduced. Additionally, establishing 50,000 Atal Tinkering Labs (ATL), broadband connectivity in secondary schools at the village level, and primary health centres is an important step,' he added.

He further said that the decision to set up cancer centres in all district hospitals over the next three years would significantly benefit a state like Uttar Pradesh.

'The establishment of a Center of Excellence for Skilling and a Center of Excellence in Artificial Intelligence for education will give global recognition to our youth. We welcome the announcement of the Pradhan Mantri Dhan Dhanya Yojana for the farmers. Around 1.75 crore farmers in the country will benefit from this scheme. Uttar Pradesh will be the state receiving the maximum benefit from this scheme through the Kisan Credit Card.

'Increasing the limit of this credit card from INR 3 lakh to INR 5 lakh is also commendable. The budget is propelling the country forward rapidly towards achieving the goal of becoming a five-trillion-dollar economy. This budget is designed to advance the Prime Minister's vision with thrice the speed in its third phase,' he added.

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 INR 12 lakh, providing significant relief to taxpayers, especially the middle class.

This limit will be INR 12.75 lakh for salaried taxpayers, factoring in INR 75,000 of the standard deduction. She also stated that the new income tax regime will be simpler, with a special focus on benefiting the middle class.

However, the exemption can only be availed if a taxpayer claims relief under various sections of the Income Tax Act, such as the INR 1.5 lakh exemption under section 80CCC and the INR 1.5 lakh exemption for home loan interest payments.

Sitharaman said, 'To taxpayers, up to INR 12 lakh of normal income (other than special rate income such as capital gains), a 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 Finance Minister's announcement of this major relief for the middle class was met with loud thumping of desks by the treasury benches, led by PM Narendra Modi.

Meanwhile, 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)