Arunachal DyCM hails Union Budget, terms it as 'historic'

Itanagar, Feb 1 (PTI) Arunachal Pradesh Deputy Chief Minister Chowna Mein on Saturday hailed the Union Budget 2025-26 and termed it as "historic".

Mein, who also holds the Finance, Planning and Investment portfolios, said the budget presented by Union Finance Minister Nirmala Sitharaman on Saturday was "historic and will empower the middle-class people." "This is a historic move that truly empowers the middle class! HPM @narendramodi's visionary leadership continues to bring financial relief and prosperity to millions. A zero-tax slab up to Rs 12 lakh is a game-changer, ensuring higher savings and greater economic growth," Mein said in a social media post.

Sitharaman announced that annual income of up to Rs 12 lakh will be exempt from income tax.

For salaried taxpayers, this income threshold will be Rs 12.75 lakh after taking into account the standard deduction.

"The new structure will substantially reduce the taxes of the middle class and leave more money in their hands, boosting household consumption, savings and investment," Sitharaman said in her budget speech.

Arunachal Chamber of Commerce and Industries (ACCI) president Tarh Nachung described the union budget as "poor-friendly," emphasising that it would significantly benefit the marginalised sections of society.

"The new income tax slab has brought a major relief for government employees working in the state. Moreover, the amount they paid earlier will be saved which will come to the market and thus it will help in the improvement of the economy," Nachung said.

He said the budget's strong focus on the MSME sector would be highly beneficial for Arunachal Pradesh, which currently lacks major industries.

Praising the budget, he said that significant attention was given to the agriculture sector, calling it the backbone of the country's economy. PTI UPL UPL RG

Source: PTI