Synopsis
In a major announcement, Union Finance Minister Nirmala Sitharaman's Budget 2025 introduces no income tax for individuals earning up to Rs 12 lakh per year. Professors in Varanasi commend this initiative as crucial support for the middle class, expressing gratitude towards the government for addressing their needs.Key Takeaways
- No income tax for earnings up to Rs 12 lakh.
- Standard deductions raise the threshold to Rs 12.75 lakh.
- Professors view this as vital relief for the middle class.
- Tax filing process has been simplified.
- Government acknowledges the contributions of the middle class.
Varanasi, Feb 1 (NationPress) In a historic decision, Union Finance Minister Nirmala Sitharaman presented the Budget 2025, which introduces no income tax for individuals earning up to Rs 12 lakh per year, inclusive of standard deductions (amounting to Rs 12.75 lakh). This groundbreaking initiative has been praised by professors in Varanasi as a vital relief for the middle class, expressing gratitude to the Modi-led government for addressing their needs.
Abhishek Singh, a professor at Uday Pratap College, shared his excitement: "This tax relief will greatly benefit the middle class. The increasing taxes that had been a burden will now be reduced, providing essential relief to the common people."
Sanjeev Kumar, an assistant professor, remarked, "For a long time, there was a feeling that the government was distancing itself from its citizens, especially the working class. However, this time, the Finance Minister has made sure that active individuals, particularly those with loans or educational responsibilities, will notice a real difference. The tax filing process, which was previously cumbersome, has been streamlined, and for this, we thank the Finance Minister and Modi ji. We genuinely appreciate this transformation."
Ashok Kumar Singh, from Harish College, commented, "It's wonderful to see the government finally focusing on the middle class. Those of us in government positions have consistently paid our taxes, yet we often found ourselves excluded from exemptions. Although this change comes late, it is certainly a movement in the right direction. The money saved will enable us to invest elsewhere, and we are thankful for that."
Narendra Pratap Singh, another professor, added, "The service class has frequently shouldered the tax burden while other groups received benefits. The middle class has always fulfilled its obligations honestly, and it's encouraging to witness the government now recognizing our contributions."
Ajay Prakash, a professor at Uday Pratap College, expressed, "This is a significant relief for the middle class. I can confidently say that it is the best Budget India has seen to date, as it will save us over Rs 10,000 monthly, which can be allocated for other needs."
Prime Minister Narendra Modi also praised the Union Budget 2025, referring to it as a "Janata Janardan Ka Budget" and highlighting its focus on the populace, which will drive India's growth.
In his remarks about the Budget, PM Modi characterized it as a pivotal moment in India's advancement. "This is a budget that addresses the aspirations of 140 crore Indians. It will realize the dreams of each citizen. We have opened various sectors for the youth, placing the common people at the forefront of India's quest to become a developed nation. This Budget acts as a force multiplier," he stated.