Noida, Feb 1 (IANS) As Union Finance Minister Nirmala Sitharaman presented the Union Budget 2025, it was met with praise from entrepreneurs in Noida, particularly for the tax relief and initiatives aimed at fostering business growth. One key announcement was the removal of income tax for individuals earning up to Rs 12 lakh annually.
Speaking to IANS, a Noida entrepreneur expressed their gratitude, saying, “This budget is fantastic in all aspects. I sincerely thank Nirmala Sitharaman ji, our Finance Minister, and Honourable Prime Minister Narendra Modi ji for this. The Rs 2 crore term loan for women entrepreneurs from Scheduled Castes and Tribes is a huge incentive for anyone looking to venture into business. MSMEs have the potential to drive significant employment generation, and the government should continue creating policies with this in mind. Both the state and Central governments should collaborate to introduce schemes for affordable land allotment for industries.”
Another entrepreneur praised the Budget, stating, “This Union Budget is truly impressive. It gives me confidence that the Modi-led government is set to achieve something substantial. It’s especially beneficial for small businesses and the middle class.”
A third entrepreneur added, “This Budget is really good. People with incomes up to Rs 12 lakh will not have to pay a single rupee in income tax.”
Surendra Singh Nahata called it “the best Budget presented by the Union government in the last 12 years,” emphasising its focus on the welfare of youth, farmers, and all sections of society. “It’s a great move for MSMEs,” he said.
Another entrepreneur highlighted the increase in MSME loan limits, stating, “Previously, the loan limit for MSMEs was Rs 5 crore, but now it’s been raised to Rs 10 crore. This is definitely a plus.”
In terms of tax changes, the Budget proposes that salaried employees will effectively pay no tax on incomes up to Rs 12.75 lakh, factoring in the benefit of the standard deduction. This exemption limit was previously set at Rs 7.75 lakh.
Additionally, FM Sitharaman announced a revision of the income tax slabs under the new tax regime, expanding the first slab that attracts no income tax from Rs 0–3 lakh to Rs 0–4 lakh.
–IANS
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