Odisha Chief Minister Mohan Charan Majhi described the Union Budget as “historic”
Bhubaneswar: Odisha Chief Minister Mohan Charan Majhi called Sunday’s Union Budget for 2025–2026 “historic” and said that Finance Minister Nirmala Sitharaman‘s budget will establish a new course for the nation’s growth.
“Under the vision of Prime Minister Narendra Modi, Union Finance Minister Nirmala Sitharaman presented a historic budget for 2025-26,” CM Majhi told the media report. The higher budget size will open the door to a new course for the nation’s growth.
The middle class, farmers, laborers, salaried class, women, young people, and students are all given some consideration in this budget. Individuals earning up to Rs 12 lakhs would not be required to pay taxes. Farmers have also been accorded a great deal of significance,” he said.
Prime Minister Narendra Modi also praised the newly unveiled federal budget earlier in the day, saying that the BJP is the only party that values the middle class and compensates law-abiding citizens.
“The whole middle class has been claiming that this is the most middle-class-friendly budget in India’s history ever since it was released yesterday. “Every Indian family is bursting with joy and excitement,” the prime minister said.
“The income tax on incomes up to Rs 12 lakh has been fully eliminated by our administration. No one earning Rs 12 lakh annually has ever benefited so much from income tax reduction since independence,” he said.
In order to increase household savings and consumption, the Union Budget 2024–25, which was presented to Parliament on Saturday by Union Finance Minister Nirmala Sitharaman, gave significant relief to the salaried class by eliminating income tax on an average monthly income of up to Rs one lakh. The government also gave the four engines of development—agriculture, MSMEs, investment, and exports—a boost.
The salaried class would pay no income tax up to Rs 12.75 lakh as a result of the finance minister’s tax relief announcement.
In the Lok Sabha, Sitharaman unveiled the Union Budget 2025, which outlined a plan for India’s ongoing economic growth with a focus on exports, investment, micro, small, and medium-sized businesses (MSMEs), and agriculture.
She said that income up to Rs 12 lakh would not be subject to income tax, which would greatly benefit taxpayers, particularly those in the middle class.
“To taxpayers up to Rs 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,” said the minister.
Congress and other opposition parties criticized the Union Budget, accusing the government of “throttling MGNREGA” and claiming it was mute on the issue of unemployment.
