Parliamentarians from various parties have hailed the Union Budget 2025 for its inclusive development approach and focus on key areas such as infrastructure and economic growth. Special attention has been given to the state of Bihar, with MPs expressing gratitude to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for their commitment to a 'Viksit Bharat'. While critics have linked these provisions to the upcoming Bihar elections, former Union Minister Ravi Shankar Prasad defended the budget, stating that the state deserves these developments regardless.
Budget 2025: Focus on Middle Class and Infrastructure
The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman, has drawn mixed reactions from various segments of society. While parliamentarians from various parties have hailed it for its inclusive development approach and focus on key areas such as infrastructure and economic growth, critics have linked certain provisions to the upcoming Bihar elections.
Background
The middle class has emerged as a significant economic force in India, contributing significantly to consumption and driving growth. However, concerns have been raised regarding the rising cost of living and the need for policies that support their economic well-being.
Budget Provisions for the Middle Class
In recognition of the middle class's importance, the Budget 2025 includes several provisions aimed at providing financial relief and promoting their economic growth:
Infrastructure Development
The budget also emphasizes infrastructure development as a key driver of economic growth. It allocates significant funds for transportation, energy, and communication projects. These investments aim to improve connectivity, boost productivity, and create employment opportunities.
Focus on Bihar
Special attention has been given to the state of Bihar in the budget. MPs from the region have expressed gratitude to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for their commitment to developing the state. The budget includes provisions for:
Critics' Concerns
Some critics have suggested that the focus on Bihar is politically motivated and linked to the upcoming state elections. Former Union Minister Ravi Shankar Prasad defended the budget, stating that the state deserves these developments regardless of electoral considerations.
Top 5 FAQs and Answers
Q1: What are the key benefits of the budget for the middle class? A: Tax relief, increased tax deductions, affordable housing, and skill development initiatives.
Q2: How does the budget aim to boost infrastructure development? A: Through investments in transportation, energy, and communication projects.
Q3: What are the specific provisions included for Bihar in the budget? A: Upgraded road and rail infrastructure, new educational and healthcare institutions, and support for agriculture and rural development.
Q4: Have critics raised concerns about the budget's motives? A: Yes, some critics have linked the focus on Bihar to the upcoming elections.
Q5: What is the government's response to these criticisms? A: The government maintains that the state deserves these developments regardless of electoral considerations.
President Donald Trump enacts stiff tariffs on imports from Mexico, Canada, and China, sparking a trade war with America's North American neighbors. Outgoing Canadian Prime Minister Justin Trudeau retaliates with a 25% tariff on USD 155 billion worth of American imports, while Mexican President Claudia Sheinbaum vows to respond with tariffs of her own. The move has potential consequences for the global economy and may hinder Trump's efforts to lower consumer prices, despite his claims of protecting Americans and curbing illegal activity.
During her Union Budget 2025 speech, Finance Minister Nirmala Sitharaman announced that no income tax will be payable on income up to Rs 12 lakh, providing significant relief to taxpayers, especially the middle class. However, this exemption only applies if a taxpayer takes relief under various sections of the income tax act. No major announcements were made for the railway sector, as the budget focuses more on increasing allocations for railways over highways.
With the announcement of the new tax regime, Finance Minister Nirmala Sitharaman has announced significant changes to the slabs and rates to benefit all taxpayers. Under the new system, taxpayers with normal income up to Rs 12 Lakhs will not have to pay any taxes, and those with income up to Rs 4 Lakhs will be exempted. The time limit for filing returns has also been extended to 4 years.
The Bharatiya Janata Party (BJP) has launched an aggressive campaign targeting the Aam Aadmi Party (AAP) ahead of the February 5 elections in Delhi. The BJP is projecting itself as the only solution to the capital's issues, accusing the AAP government of mismanagement and neglect in several key areas. The BJP is promoting a "double-engine government" with a BJP-led administration in both Delhi and the Centre, claiming it will ensure faster and more effective development. The AAP, BJP, and Congress are all vying for victory in the upcoming elections.
Indian Prime Minister, Shri Narendra Modi, inaugurated the 2550th Bhagwan Mahaveer Nirvan Mahotsav in New Delhi and paid tribute to the Jain saint by releasing a commemorative stamp and coin. He praised the youth for their commitment towards the values of Bhagwan Mahaveer and stated that India will continue to celebrate these values for thousands of years. Modi also acknowledged the importance of spiritual teachings in a world plagued by numerous wars. He expressed his belief that India's identity lies in its pride and that modernity is its body and spirituality its soul.
Zakia Jafri, the wife of former Congress MP Ehsan Jafri who was killed in the Gujarat riots, passed away at the age of 86. She was a determined activist who fought for justice for the victims of the post-Godhra riots and filed a legal battle in the Supreme Court to hold top political leaders accountable for their role in the violence. Her passing is a loss for the human rights community and her legacy will be remembered by family, friends, and the nation.
Zakia Jafri, a survivor of the Gulberg Society massacre during the 2002 Gujarat riots, has died at the age of 86 due to age-related issues. She has been a prominent figure in the fight for justice for the victims of the riots and had filed a plea in the Supreme Court against the clean chit given to then Gujarat CM Narendra Modi. The FM has announced income tax rebates and lower tax rates for various income categories.
In her Union Budget 2025 speech, Finance Minister Nirmala Sitharaman announced a revamp of the existing PM SVANidhi scheme for street vendors, aimed at boosting incomes for the urban poor. The revamped scheme will offer enhanced loans from banks, UPI-linked credit cards with a limit of Rs 30,000, and capacity-building support. The minister also announced the setting up of an 'Urban Challenge Fund' of Rs 1 lakh crore and an allocation of Rs 10,000 crore for 2025-26 to finance and implement proposals for cities as growth hubs.
Finance Minister Nirmala Sitharaman's Union Budget 2025-26 announcement has sparked excitement in Bihar as the state received noteworthy developments, including Greenfield airports, aid for farmers, and a boost in economic progress. As Assembly elections approach, netizens have taken to social media with hilarious memes and witty reactions, including Swiggy's clever post celebrating "Bihar supremacy." One user even humorously shared an edited image depicting a futuristic Bihar under the Budget's influence.