New Delhi, Feb 1 (IANS) Sajjan Bhajanka, Founder and Chairman of Century Plyboards Limited, praised the Union Budget 2025 for being a balanced approach that significantly benefits the middle class.
Speaking to IANS on Saturday, Bhajanka expressed strong approval of the budget’s measures, highlighting tax relief and system simplifications as key positive steps.
“The budget is balanced, and there’s nothing negative about it,” Bhajanka remarked.
One of the standout features of the budget is the new tax regime, which offers substantial benefits to taxpayers.
“The middle class has definitely benefited, particularly with the removal of income tax for those earning up to Rs 12 lakh per year. This relief eliminates their compliance burden, allowing them to focus more on growth and less on paperwork,” he said.
Bhajanka pointed out that every income taxpayer will see a financial benefit of at least Rs 70,000 to Rs 1.25 lakh, thanks to the revised tax slabs that offer lower rates on higher income brackets.
“This is a major relief for everyone paying taxes. Additionally, many complex issues have been simplified, and the criminalisation of certain offenses has been removed,” he added.
The Union Budget 2025 also introduces other significant tax changes, including a new progressive tax structure ranging from 0 per cent to 30 per cent, based on earnings.
Finance Minister Nirmala Sitharaman also announced a rationalisation of Tax Deduction at Source (TDS) rates and a doubling of tax deductions for senior citizens to Rs 1 lakh. Furthermore, the time limit for filing updated returns has been extended from two years to four years.
Bhajanka acknowledged that while expectations were high, especially with PM Modi at the helm, the budget provides a balanced foundation for long-term growth. He hinted that more impactful measures could emerge in future fine prints, ensuring continued economic progress.
–IANS
jk/rad
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
