New Delhi [India], February 4 (HBTV): Haryana Chief Minister Nayab Singh Saini praised the Union Budget 2025, presented by Finance Minister Nirmala Sitharaman on Saturday, describing it as a 'budget for the poor, youth, and farmers' and stating that it would 'empower women.'

He also hailed the government's decision to increase the Kisan Credit Card (KCC) limit and provide low-interest loans to cotton farmers, among other measures. CM Saini highlighted that the tax exemption limit of up to INR 12 lakh would greatly benefit the common man.

'I appreciate the first budget of the non-stop third term of the government. This budget is for the poor, youth, and farmers of the nation, empowerment of women, and employment of youth. This will provide benefits and new employment opportunities to the agriculture sector and industry of Haryana. My farmers will benefit from the decision to increase the Kisan Credit Card limit to INR 5 lakh,' CM Saini told reporters.

He added, 'I appreciate the decision to provide loans to cotton farmers for up to INR 5 lakh at low interest, raise the credit limit for small traders to INR 5 lakh, provide loans of up to INR 2 crore to new industries, and INR 10 crore to MSMEs that will create employment opportunities. The common man will benefit from increasing the tax relief limit up to INR 12 lakh.'

Union Finance Minister Nirmala Sitharaman presented the Union Budget 2025 in the Lok Sabha, outlining a roadmap for India's continued economic expansion, emphasizing agriculture, micro, small, and medium enterprises (MSMEs), investment, and exports.

During her Union Budget 2025 speech, Sitharaman announced that no income tax will be payable on income up to INR 12 lakh, providing significant relief to taxpayers, especially the middle class.

'To taxpayers, up to INR 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,' said Sitharaman.

The announcement from the Finance Minister of this major relief to the middle class was met with loud thumping of desks by the treasury benches, led by Prime Minister Narendra Modi. (ANI)