New Delhi [India], February 1: Prime Minister Narendra Modi on Saturday hailed the Union Budget 2025, calling it a “force multiplier” for India’s development journey. He described the budget as a “budget of aspirations” for 140 crore Indians, aimed at fulfilling the dreams of the people with a focus on empowering the youth and expanding opportunities across various sectors.
“This is the budget of the aspirations of 140 crore Indians, fulfilling the dreams of every citizen,” PM Modi stated, emphasizing that the budget seeks to foster economic participation and growth among the common people.
The Prime Minister further explained that the budget is designed to benefit citizens directly. “While previous budgets often focused on filling government coffers, this budget prioritizes filling the pockets of the people, boosting savings, investments, and consumption. This budget lays a strong foundation for growth and development, making citizens active partners in the mission for a ‘Viksit Bharat’,” he added.
PM Modi also applauded the reforms in the nuclear energy sector, calling the encouragement of private sector involvement in civil nuclear energy a historic step. “This will significantly contribute to the country’s development,” he said.
The Prime Minister also highlighted the importance of preserving India’s heritage, stating that the budget takes crucial steps in this direction with initiatives like the “Gyan Bharat Mission,” aimed at preserving one crore manuscripts. “Today, the country is progressing with the mantra of ‘development as well as heritage,'” he remarked.
In another significant move, PM Modi welcomed the decision to grant infrastructure status to shipbuilding, noting it will promote domestic production, enhance self-reliance, generate employment, and boost tourism potential. “This sector holds immense job creation opportunities and will accelerate the Atma Nirbhar initiatives,” he stated.
The Prime Minister announced a new scheme providing loans up to Rs 2 crore without guarantees for SC, ST, and women entrepreneurs, further emphasizing the government’s commitment to empowering marginalized communities and fostering entrepreneurship.
PM Modi also acknowledged the inclusion of gig workers in the budget, explaining that they would now be registered on the e-Shram portal and be eligible for health services. “This is a significant step in supporting the New Age Economy,” he said.
Another major highlight was the announcement of tax relief for the middle class. “Income up to Rs 12 lakh per annum will now be tax-free, and taxes have been reduced for all income groups, benefiting the middle class and those newly entering the workforce,” he said.
Union Home Minister Amit Shah also praised the budget, calling it a “comprehensive” and “visionary” roadmap for India’s progress. He pointed out that the decision to exempt income tax for earnings up to Rs 12 lakh reflects the government’s commitment to the middle class. Shah further described the 2025 Budget as the blueprint of the Modi government’s vision to build a developed and prosperous India in every field.
Finance Minister Nirmala Sitharaman presented the Union Budget 2025 in Parliament.