An Encouraging Budget for India's Aspiration to be the 3rd Largest Economy: Pralhad Joshi
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Synopsis
Union Minister <b>Pralhad Joshi</b> hailed the Union Budget 2025 as a significant boost for India's quest to become the <b>third-largest economy</b>. He emphasized initiatives aimed at empowering the middle class and underprivileged sectors, ensuring substantial economic progress.
Key Takeaways
- Union Budget 2025 aims to position India as the third-largest economy.
- Significant tax benefits for the middle class, including income tax exemptions up to Rs 12 lakh.
- Increased funding for agriculture and healthcare sectors.
- Introduction of cancer treatment centers in district hospitals.
- Emphasis on renewable energy funding under the NDA government.
New Delhi/Bengaluru, Feb 1 (NationPress) Union Minister for Food and Civil Supplies Pralhad Joshi on Saturday characterized the Union Budget 2025 as exceptionally motivating for India's ambition to become the third-largest economy globally.
While addressing the media in Delhi, he expressed satisfaction with the Budget introduced by Finance Minister Nirmala Sitharaman, noting it as a promising step forward in the nation's economic development.
"In alignment with Prime Minister Narendra Modi's vision to uplift the economically disadvantaged and middle-class citizens, Finance Minister Sitharaman has unveiled a budget that supports these initiatives," remarked Pralhad Joshi.
He further emphasized that due to PM Modi's effective governance and foresight, India is experiencing significant economic growth.
"The NDA government, in its current term, has implemented crucial measures to empower the underprivileged and middle class, presenting an extraordinary budget," said the Union Minister.
This Budget establishes a robust framework for a prosperous, self-sufficient, and globally competitive India. It indicates a clear pathway for substantial advancements in the economy and investments, Joshi added.
In the Budget for the Financial Year 2024-25, notable allocations have been made across various sectors, including the middle class, industry, agriculture, and healthcare.
This is an exceptional Budget that surpasses public expectations, stated Pralhad Joshi.
"Most importantly, the Budget presents a significant advantage to the middle class by allowing income tax exemptions up to Rs 12 lakh. The increase in the limit for Kisan Credit Cards from Rs 3 lakh to Rs 5 lakh is a commendable initiative for farmers. Additionally, the establishment of cancer treatment facilities in every district hospital is a crucial support for economically disadvantaged patients battling this severe illness," he noted.
Pralhad Joshi conveyed his enthusiasm, stating that the Budget is motivating for the comprehensive advancement of sectors such as IITs, medical, health, and small industries.
The Union Minister remarked that the Budget also significantly promotes the new and renewable energy sector. During the tenure of the UPA government, the Budget allocated meager resources for the development of new and renewable energy.
However, under Prime Minister Narendra Modi's leadership, the NDA government has substantially increased funding for these sectors, he asserted.
Overall, the Budget epitomizes the nation's dedication to stability, development, and prosperity, he concluded.
