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Home » Blog » Income tax exemption of Rs 12L major highlight, says CM
Goa News

Income tax exemption of Rs 12L major highlight, says CM

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Last updated: February 2, 2025 1:18 am
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Special Correspondent

Panaji

Chief Minister Pramod Sawant, welcoming the Budget 2025 presented by Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, said that the national annual financial statement outlines 10 broad development measures under the four pillars of Viksit Bharat, namely Nari Shakti, Yuva Shakti, Annadata, and Gareeb Kalyan, thus paving the way for a stronger and more prosperous India.

“The key focus areas in the budget are agricultural growth and rural prosperity, inclusive growth and MSME support, employment-led growth and workforce investment, securing energy sources and promoting exports, and fostering innovation and strengthening the economy,” he added.

Furthermore, Sawant said that a major highlight of the budget is the landmark income tax exemption for individuals earning up to Rs12 lakh, providing significant relief to the middle class, fostering greater savings and investments, and reinforcing the foundation of a stronger India.

“Additionally, the budget introduces transformative reforms in taxation, the power sector, urban development, mining, financial regulations, and export promotion,” he observed, noting that the Budget 2025 also prioritises tourism-driven economic growth.

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