Union Budget hailed as employee, farmer-friendly

Highlights

Chartered Accountant Damacharla Srinivasa Rao of Guntur city said the Union Budget for the financial year 2025-26 presented by the Finance Minister Nirmala Sitharaman in the Lok Sabha on Saturday was good and useful for the development of the country.

Guntur : Chartered Accountant Damacharla Srinivasa Rao of Guntur city said the Union Budget for the financial year 2025-26 presented by the Finance Minister Nirmala Sitharaman in the Lok Sabha on Saturday was good and useful for the development of the country.

Reacting on the Budget, he said the increase of Income Tax limit to Rs 12 lakh was a good sign. He said it provides relief to the employees.

Hiking of credit limit to Rs 5 lakh on the Kisan Credit Cards is useful to the farmers and added that interest on deposits up to Rs 1 lakh is exempted from income tax which would be beneficial to the senior citizens.

MSMEs will get loans up to Rs 20-crore without collateral security. This would enable MSMEs to generate more employment opportunities.

Indian Tobacco Association secretary Yarlagadda Ankamma Chowdary welcomed the Union Budget 2025-26 and felt that it is useful for the development of the country.

Hiking the Income Tax limit to Rs 12 lakh per annum is a good sign, as a result the people will maintain transparency in paying income tax.

Budget is useful to the agriculture and agro based industries. Budget is useful for MSMES and promotes exports.

Budget is not useful to the middle class and poor : Indian Chamber of Commerce Hony President Atukuri Anjaneyulu

However, Indian Chamber of Commerce honorary president Atukuri Anjaneyulu felt that Union Budget 2025-2026 is not useful to the middle class and poor people because the Central government did not take steps to reduce GST rates. He said there are no special grants to AP which has been facing a financial crisis.

He said the Union Budget was designed to protect the interests of corporate companies.

CPI Guntur district secretary J Ajay Kumar criticised that Union Budget 2025-2026 is a gift to the corporates and curse to the poor and middle class people. He criticised that the Centre did not allot any funds for the rehabilitation of Polavaram Project displaced and for the construction of State capital Amaravati. He said the Centre did not take any steps to get MSP to the farmers.