A dream budget for the middle class: Maharashtra CM Devendra Fadnavis

Maharashtra CM Devendra Fadnavis on Saturday termed the Budget 2025 as a transforming rural India budget which will encourage the citizencentric investment an official statement saidThe budget paves the way for a developed India is allinclusive and is a historic budget for a developed nation It will make the economy more mature and strengthen it further It provides relief to the middle class salaried individuals youth farmers and laborers The provisions in this budget will support many of Maharashtrarsquos ambitious policies In particular since Maharashtra is the startup capital it will greatly benefit from the new policies said Devendra FadnavisHe said ldquoThe tax span changes were more than what a tax payer was expectingrdquoBesides giving relief to middle class and taxpayer the budget focuses comes with focus on rural development and relief for farmers CM FadnavisUnion Finance Minister Nirmala Sitharaman on Saturday announced that income up to Rs 12 lakh will be taxfree providing major relief to the middle classThe official statement released by the publicity department of Maharashtra government said that increasing the income tax exemption limit will bring more money into the economy boosting demand Raising the taxable income limit from Rs 7 lakh to Rs 12 lakh is a historic decision Under the leadership of Prime Minister Narendra Modi this limit was earlier raised from Rs 25 lakh to Rs 7 lakh and now it has been further increased to Rs 12 lakh This journey is undoubtedly impactful for the Indian economy It will provide significant relief to the middle class salaried individuals and youth ensuring a larger share of income remains in their handsIt said that this will energise the markets increase purchasing power boost demand enhance production and generate employment particularly benefiting the MSME sector As a result the economy will further strengthenThe Budget 2025 also includes crucial announcements for the agricultural sectorA special incentive scheme for 100 districts support for oilseed production and a policy ensuring 100 per cent procurement will greatly benefit farmersFishermen will now have access to interestfree loans of up to Rs 5 lakh encouraging business expansion These measures are expected to increase investment in agriculture creating new opportunities for farmers and the agricultural sector said Devendra FadnavisThe statement further stated that the MSME sector is crucial for young entrepreneurs and the decision to increase the loan limit and frequency criteria is significant for them Maharashtra is the startup capital and a loan limit of Rs 20 crore has been set for startups This will strengthen the startup ecosystem leading to the growth of various startups and the creation of new employment opportunities As a result Maharashtras progress in this sector will become even more robust expressed Chief Minister Devendra Fadnavis with confidenceA new infrastructure policy is being formulated for the development of foundational projects The 50year interestfree loan scheme for infrastructure projects has greatly benefited the state and Maharashtra will continue to be a leading beneficiary under this budget as well PublicPrivate Partnership PPP projects will encourage private sector investment leading to significant job creationOverall this budget is one that will propel the country forward reflecting Indiarsquos journey toward a mature and inclusive economy noted the Chief MinisterWhen asked by the press about Maharashtrarsquos share in the Budget 2025 Chief Minister Devendra Fadnavis stated that based on the initial information received severalkey allocations have been made for the state Rs 683 crore for the Maharashtra Rural Connectivity Improvement Project Rs 100 crore for the Maharashtra Agribusiness Project Rs 1094 crore for Economic Clusters Rs 186 crore for Lift Irrigation Projects