In a move that promises to transform rural India and stimulate citizen-centric investments, Maharashtra Chief Minister Devendra Fadnavis has congratulated Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman for presenting a landmark budget. The budget, unveiled on Saturday, 1^st February, offers major relief to the middle class by making incomes up to Rs. 12 lakh tax-free, a step seen as a game-changer for the economy and the common man.

Speaking to the media, Fadnavis described the budget as a "historic step" towards a more developed and comprehensive India. He emphasized that this budget will strengthen the economy, with provisions targeting the middle class, salaried workers, youth, farmers, and entrepreneurs. "The increased tax exemption limit will infuse liquidity into the economy, leading to higher demand, increased production, and job creation," he stated.

Notably, Maharashtra, being the startup capital of India, stands to benefit greatly from the new policies announced. The decision to increase the income tax exemption limit will release more disposable income, stimulating demand in key sectors, including the MSME sector. Fadnavis also highlighted provisions for farmers, including interest-free loans for fishermen and schemes to boost oilseed production and agriculture in general.

For Maharashtra, the Union Budget has allocated significant funds, including Rs. 683 crore for the Maharashtra Rural Connectivity Improvement Project and Rs. 1094 crore for economic cluster development. The state also received a major boost in infrastructure projects, including funding for metro initiatives and the conservation of the Mula Mutha river, which is expected to improve connectivity and promote sustainable growth.

A Big Relief for the Middle Class, Says Deputy Chief Minister Ajit Pawar

Deputy Chief Minister and Finance Minister of Maharashtra, Ajit Pawar, also welcomed the budget, especially the substantial relief provided to the middle class. Income up to Rs. 12 lakh will now be exempt from tax, with further reductions for those earning up to Rs. 25 lakh. Pawar expressed his gratitude to Prime Minister Modi and Finance Minister Sitharaman for the funds allocated to critical infrastructure projects in Maharashtra.

“The new tax structure will bring significant relief to millions of middle-class families, allowing them to retain more of their income. Moreover, the decision to exempt key life-saving medicines from customs duties will make healthcare more affordable for citizens,” said Pawar.

Deputy Chief Minister Eknath Shinde Hails Income Tax Reforms

Maharashtra Deputy Chief Minister Eknath Shinde praised the government's decision to make income up to Rs. 12 lakh tax-free. He compared the feeling of receiving this relief to the joy of festivals like Diwali and Dussehra, symbolizing prosperity for all. Shinde highlighted the significance of this budget in bringing economic justice to the middle and lower classes.

Shinde also noted the government's emphasis on new technologies, employment generation, and the development of a self-reliant India. He expressed confidence that the increase in credit limits for startups and the focus on skill development would greatly benefit Maharashtra's growing entrepreneurial ecosystem.

Thane Member of Parliament, Naresh Mhaske, also shared his enthusiasm, calling the Union Budget a critical step towards realizing India's dream of becoming an economic superpower. The budget places strong emphasis on the development of rural areas, agricultural reform, job creation, and support for entrepreneurs, aligning perfectly with the vision of inclusive growth.