Panaji: Chief Minister Pramod Sawant today hailed the Union Budget 2025, lauding the Centre’s decision to exempt individuals earning up to Rs 12 lakh from income tax.
Calling it a "transformative step," he said the move empowers the middle class by easing their financial burden and fostering greater savings and investment.
“The announcement of an income tax exemption for individuals earning up to Rs 12 lakh is a transformative step towards empowering the middle class. This decision not only acknowledges their crucial role in nation-building but also provides much-needed financial relief, fostering greater savings and investment. A stronger middle class means a stronger India,” Sawant posted on X.
Union Finance Minister Nirmala Sitharaman, in her Budget 2025 presentation, unveiled revised tax slabs, ensuring that individuals earning up to Rs 12 lakh (including standard deductions, up to Rs 12.75 lakh) will not have to pay income tax. She emphasized that the move will boost household consumption, savings, and investment, strengthening the economy.
Along with the revised tax slabs, Sitharaman also announced several tax-related measures, including rationalizing TDS (Tax Deduction at Source) rates and doubling the tax deduction limit for senior citizens to Rs 1 lakh. Additionally, the deadline for filing updated tax returns will be extended to four years, offering taxpayers more flexibility.
In a major healthcare initiative, the government will set up Day Care Cancer Centres in all district hospitals over the next three years, with 200 such centres to be established in 2025-26 alone.
Health Minister Vishwajit Rane welcomed the announcement, calling it a visionary step towards accessible and advanced healthcare. He pointed out that efforts are already underway in Goa to strengthen cancer care initiatives and enhance treatment facilities for citizens.
