New Delhi: Union Minister Jyotiraditya Scindia on Saturday hailed the Union Budget 2025 as a historic moment for India, marking its transition from a regional power to a global economic powerhouse. He said that it is a crucial day in India’s journey, as the country aims to become the world’s third-largest economy.
“Today marks a historic moment for India under the leadership of Prime Minister Narendra Modi ji and Finance Minister Nirmila Nirmala Sitharaman ji,” Scindia said. “I think today is a very important day in the journey of India – a journey of India as it moves from becoming a regional power to a world economic power; as it moves from being the fifth largest economy to the world’s 3rd largest economy,” he added.
EXCLUSIVE | VIDEO: Union Budget 2025: Union Minister Jyotiraditya Scindia (@JM_Scindia) says, “Today marks a historic moment for India under the leadership of Prime Minister Narendra Modi ji and Finance Minister Nirmala Sitharaman ji. I think today is a very important day in the… pic.twitter.com/HNX3MXzdeb
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India on path to $5 trillion GDP: Scindia
Scindia also spoke of India’s ambitious growth projections, backed by international institutions. “GDP growth to almost about USD 5 trillion by 2026 and USD 6.5 trillion by 2030. That is the realistic view of many international institutions like the IMF and the World Bank and many others.” He expressed confidence that the Union Budget 2025 has set India on the path to achieving the vision. “And this budget has certainly put India on that path,” Scindia said.
Union Budget 2025
Union Finance Minister Nirmala Sitharaman presented the Budget for the BJP-led government’s third term on Saturday, offering major tax relief to the salaried middle class facing high costs and stagnant wages. She said that people earning Rs 24 lakh or more annually could save Rs 1.10 lakh in income tax, while those earning Rs 12 lakh would pay no tax, saving Rs 80,000 from the next financial year under the new regime.
Sitharaman also said that a new Income Tax Bill will be introduced in Parliament next week to replace the 1961 tax act.The Union Budget 2025-26 allocates Rs 50.65 lakh crore, a 7.4 per cent rise from the revised estimate of Rs 47.16 lakh crore for 2024-25. PM Modi called it a “people’s budget,” saying it boosts savings, investments and economic growth.
