Tarun Karthick
Sri Vijaya Puram, 01 February 2025
Mr. Bishnu Pada Ray, Hon’ble Member of Parliament, Andaman and Nicobar Islands, has welcomed the Union Budget 2025, calling it a “people-friendly budget” that may increase financial savings and funding.
In his assertion following the price range presentation, Mr. Ray highlighted main adjustments in earnings tax, which he mentioned would carry important aid to the center class. “No income tax will be payable on income up to ₹12 lakh. For salaried taxpayers, this limit will be ₹12.75 lakh, considering the standard deduction of ₹75,000,” he said.
He additionally lauded the federal government’s transfer to lift the annual TDS exemption restrict on hire from ₹2.40 lakh to ₹6 lakh. “This will be a major relief for small taxpayers receiving modest rental incomes,” he famous.
On the tourism entrance, Mr. Ray appreciated the federal government’s choice to increase Mudra loans to homestay homeowners, aiming to strengthen hospitality providers in rural and rising vacationer locations. “This initiative will greatly benefit new entrepreneurs in our Islands,” he mentioned.
Describing the price range as growth-oriented, he emphasised its potential to drive progress throughout key sectors. “This budget will help boost agriculture, manufacturing, innovation, and the service sector,” he remarked.
Concluding his response, Mr. Ray underscored the price range’s imaginative and prescient for nationwide progress. “Overall, this is a development-driven budget with a clear focus on making India the third-largest economy in the world,” he mentioned.
