Union Budget 2025 has laid the roadmap for Viksit Bharat: Ashwini Vaishnaw

Delhi , Feb 01, 2025, By News On Air49

Information and Broadcasting Minister Ashwini Vaishnaw today said that the Union Budget 2025 has laid the roadmap for Viksit Bharat. In a social media post, Mr Vaishnaw said that it has growth, inclusion and innovation at its core, from farmers to fintech, MSMEs to AI.

Talking to media, Mr Vaishnaw, who also holds the charge of the Railway Ministry said the capital expenditure for railways is huge, with a Gross Budgetary Support of over 2.52 lakh crores. He added that the railway has been expanding its network, getting better types of trains and simultaneously focusing on safety.

On budget allocation for Electronics and IT, the Minister said the announcement regarding components is a major announcement. He said that the finished products are already manufactured in India and with the component manufacturing coming in, the entire electronics manufacturing will get a very big boost. He also said that customs-related simplifications have been announced and simultaneously provisions related to permanent establishment, and provisions related to the storage of electronic components, have been announced in the budget.

Mr Vaishnaw also termed the announcement of no income tax up to 12 lakh annual income. as an unprecedented move for the middle class which will empower them to invest in their future.