Budget 2025-26 a very pro people budget
Srinagar, Feb 15: Union Minister Kiren Rijiju has highlighted the significant development strides in Jammu and Kashmir under Prime Minister Narendra Modi’s leadership.
Addressing press conference in Srinagar, as per news agency JKNS Rijiju said, that the abrogation of Article 370 in August 2019 has ushered in a new era of growth and progress in the region.
Rijiju pointed to the completion of major infrastructure projects, the advancement of ongoing works, and the effective implementation of various centrally sponsored schemes as evidence of this transformation.
He also commended the efforts of the local administration and departments in bringing these initiatives to fruition.
In line with the government’s commitment to fostering development, the Union Budget for 2025-26 has been described as a “pro-people” budget, aiming to boost economic growth and inclusivity.
He said that the budget proposes raising the income threshold for the nil tax slab to Rs 1.2 million per annum, effectively reducing the tax burden on the middle class. Additionally, changes in tax slabs and rates are set to benefit all taxpayers.
Rijiju said that a six-year mission has been launched to enhance pulses production, aiming to reduce dependency on imports. Similarly, a five-year mission focuses on boosting cotton output, particularly the extra-long staple variety.
He said that capital expenditure is set at Rs 11.2 trillion for 2025-26, reflecting the government’s focus on infrastructure as a catalyst for economic growth.
He added that the budget introduces a “Deep Tech Fund of Funds” with an allocation of Rs 20,000 crore to promote innovation and support startups. Additionally, credit guarantees for small and medium enterprises have been enhanced to Rs 100 million.—(JKNS)
