New Delhi [India], February 1 (ANI): AAP MP Sanjay Singh has expressed disappointment over the Union Budget 2025, stating that small traders have been left out with no tax relief on their income of Rs 12 lakh.
He emphasized that AAP national convenor Arvind Kejriwal had suggested recovering the Rs 16 lakh crore loan waived for industrialists to halve GST and income tax rates, providing massive relief to the middle class and common people, but this proposal was ignored.
“What benefit are small traders getting from this, you have not given any tax relief on their income of Rs 12 lakh. Aam Aadmi Party’s national convenor Arvind Kejriwal had demanded that if you decide that you will not waive the loans of industrialists, you will not waive the loans of your capitalist friends and you recover the loan of Rs 16 lakh crore that has been waived so far, then the GST rates and income tax rates in the country can be halved. The middle class of this country, the common man of this country can get a huge relief. But this was not done…,” he said.
Congress leader Bhupesh Baghel also voiced his criticism saying that this budget was impractical.
“The value of the rupee has fallen. So even if they have increased the difference, it’s not going to make much difference. There was nothing in the budget for the middle class, farmers, or the poor… There was nothing in the budget for infrastructure… It is an impractical budget, ” Baghel said.
Finance Minister Nirmala Sitharaman, during her Union Budget 2025 speech, announced that no income tax will be payable on income up to Rs 12 lakh, providing significant relief to taxpayers especially the middle class.
Finance Minister also said, “The annual limit of Rs 2.40 lakh for TDS on rent is being increased to Rs 6 lakh. This will reduce the number of transactions liable to TDS, thus benefiting small tax payers receiving small payments.”
In her budget speech, she said Budget 2025 continues the government’s efforts to accelerate growth, inclusive development, private sector investments, uplift household sentiments, and enhance the spending power of India’s rising middle-class.
The budget session of parliament that began on January 31 and, according to schedule, will end on April 4. The budget speech outlined the government’s fiscal policies, revenue and expenditure proposals, taxation reforms, and other significant announcements. (ANI)
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