Synopsis
The Union Budget 2025 presented by Finance Minister Nirmala Sitharaman has garnered strong support from Noida entrepreneurs, particularly for tax relief measures and initiatives to promote business growth, including the removal of income tax for individuals earning up to Rs 12 lakh annually.Key Takeaways
- Noida entrepreneurs praise the Union Budget 2025.
- Income tax eliminated for earnings up to Rs 12 lakh.
- Loan scheme for women entrepreneurs from Scheduled Castes and Tribes.
- Increased MSME loan limits from Rs 5 crore to Rs 10 crore.
- Tax exemption limit raised to Rs 4 lakh.
Noida, Feb 1 (NationPress) The presentation of the Union Budget 2025 by Union Finance Minister Nirmala Sitharaman received a warm reception from Noida's entrepreneurs, particularly praising the tax relief and initiatives designed to stimulate business growth. A significant announcement was the elimination of income tax for individuals with annual earnings up to Rs 12 lakh.
In a conversation with IANS, one entrepreneur from Noida shared their appreciation, stating, "This budget is remarkable in every regard. I am truly grateful to 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 serves as a significant motivation for anyone aiming to start a business. MSMEs can play a crucial role in creating substantial job opportunities, and the government should persist in formulating policies with this aim. Both state and Central governments should work together to establish schemes for affordable land allotment for industries."
Another entrepreneur commended the Budget, remarking, "This Union Budget is genuinely impressive. It instills confidence that the Modi-led government is poised to accomplish something noteworthy. It's particularly advantageous for small enterprises and the middle class."
A third entrepreneur expressed, "This Budget is indeed commendable. Individuals earning up to Rs 12 lakh will be exempt from paying any income tax."
Surendra Singh Nahata referred to it as "the best Budget delivered by the Union government in the past 12 years," stressing its commitment to the welfare of youth, farmers, and all societal segments. "It’s a fantastic initiative for MSMEs," he stated.
Another entrepreneur noted the increase in MSME loan limits, saying, "Previously, the loan limit for MSMEs was Rs 5 crore, but it has now increased to Rs 10 crore. This is undoubtedly a positive development."
In terms of tax modifications, the Budget suggests that salaried workers will effectively incur no tax on incomes up to Rs 12.75 lakh, considering the standard deduction benefit. This exemption threshold was formerly Rs 7.75 lakh.
Furthermore, FM Sitharaman announced a revision of the income tax brackets within the new tax structure, broadening the first bracket that is tax-exempt from Rs 0–3 lakh to Rs 0–4 lakh.
