Union Budget 2025: Finance Minister Nirmala Sitharaman presented the Union Budget on Saturday, making a significant announcement regarding income tax. According to her speech, people earning up to ₹12 lakh annually will not have to pay any income tax.
UP Deputy CM’s Response
UP Deputy Chief Minister Keshav Prasad Maurya expressed his happiness over this announcement. On social media platform X, he wrote:
“The 2025-26 budget offers big relief to taxpayers. Under the new tax system, income up to ₹12 lakh will be tax-free. Salaried taxpayers can also enjoy a standard deduction of ₹75,000, making the effective tax-free income limit ₹12.75 lakh. This decision will benefit the middle class, encourage savings, and boost investments. Heartfelt thanks and congratulations to Prime Minister Narendra Modi for this important decision.”
Uttarakhand CM’s Statement
Uttarakhand CM Pushkar Singh Yadav also welcomed the move. He said:
“This is a big gift for the middle class. Under the visionary leadership of PM Narendra Modi, the decision to make ₹12 lakh income tax-free will benefit everyone, especially the middle class. It will encourage economic growth and bring positive changes to people’s lifestyles. We thank and congratulate the Prime Minister for this transformative decision.”
New Tax Law Coming Soon
The Finance Minister further announced that the government will introduce a new tax bill next week. The bill will promote a ‘trust first, verify later’ approach for taxpayers.
This decision is expected to boost household consumption, savings, and investments while supporting India’s economic growth.
