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Finance Minister Nirmala Sitharaman tabled the much anticipated Union Budget for FY 2025-26 on February 1, which also marked a record 8th Budget presentation for the 65-year-old. In a major relief to the middle class, Sitharaman announced that there would not be any tax liability on income upto Rs 12 lakh for salaried persons under the new tax regime and raised the basic exemption from Rs 2.5 lakh to Rs 4 lakh.
Speaking on this front, Saurabh Dhanorkar, Managing Director of Finolex Industries, said, "The Union Budget’s strong emphasis on infrastructure development, particularly through the extension of the Jal Jeevan Mission until 2028, reflects a firm commitment to sustainable water management and rural development. The focus on enhancing the quality of infrastructure and improving operation and maintenance of rural piped water supply schemes through Jan Bhagidhari is a critical step toward ensuring long-term water security. The signing of separate MoUs with states and UTs to promote citizen-centric water service delivery further reinforces this commitment."
"Additionally, initiatives like the Prime Minister Dhan Dhanya Krishi Yojana, aimed at improving irrigation facilities, will indirectly support the growth of water infrastructure across agricultural regions. Together, these measures create significant opportunities for the piping industry to contribute to the development of robust, sustainable solutions that will benefit both rural communities and the broader infrastructure ecosystem," he added.
Union Budget 2025 | Nirmala Sitharaman, as Finance Minister, presented her record 8th Union Budget this time. While inflation has burnt a hole in the pockets of 'aam janata', the Modi govt gave income tax relief for those making up to Rs 12 lakh per year in salaried income. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.