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MP, Biplab Kumar Deb, expressed his support for the budget: The tax exemptions for earnings up to ₹12 lakh, simplification of the tax structure

News Hunt Tripura by News Hunt Tripura
February 1, 2025
in News, Politics, Tripura
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MP, Biplab Kumar Deb, expressed his support for the budget: The tax exemptions for earnings up to ₹12 lakh, simplification of the tax structure
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Agartala: Feb 01: The 2025-26 budget, presented by the Government of India, is a people-oriented budget aimed at delivering benefits to all citizens in line with the resolution of a developed India. This budget reflects the aspirations of every section of society, ensuring better lives for both middle-income and lower-income groups, while accelerating India’s development on the global stage. Former Chief Minister of Tripura and MP, Biplab Kumar Deb, expressed his support for the budget, emphasizing its comprehensive focus on the empowerment of the poor, youth, farmers, and women.

Shri Deb highlighted that the budget outlines practical measures for the inclusive development of the nation. The tax exemptions for earnings up to ₹12 lakh, simplification of the tax structure, and relief for senior citizens in TDS will ease financial burdens, especially for the middle and lower-middle classes. The budget also ensures 100% foreign investment in the insurance sector and prioritizes women’s empowerment, guaranteeing their economic independence and social participation.

Significant strides are made in sectors such as agriculture, MSMEs, rural development, and tourism. A new package to boost tourism, the revamping of 50 tourist centers, and initiatives to promote exports and reduce the cost of cancer drugs will foster economic growth. Additionally, the budget aims to accelerate nuclear power generation and provide benefits to farmers, with increased loan limits on Kisan Credit Cards and support for over 1.7 crore farmers.

Shri Deb also noted the budget’s focus on small and medium industries, with enhanced microcredit facilities and increased export targets. Key initiatives, including the establishment of new fertilizer factories and the formation of a special board for makhana cultivation, will benefit various sectors and provide employment to millions.

In conclusion, the 2025 budget sets India on a trajectory of sustainable growth, ensuring that every citizen benefits from the nation’s progress. Shri Deb expressed gratitude to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for their leadership in crafting this transformative, people-centric budget.

 

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