IT Concessions In Union Budget A Boon For Middle Class: Bengal Guv

(MENAFN- IANS) Kolkata, Feb 3 (IANS) West Bengal Governor, C.V. Ananda Bose, on Monday, described the Union Finance Minister Nirmala Sithraman's proposal to raise the minimum tax slab to Rs 12 lakhs from Rs 7 lakhs in the new Regime in addition to Rs 75,000 of the standard deduction for salaried taxpayers as the real boon for the Indian middle-class society.

“Income tax concession is the major highlight of this budget since it will positively impact the entire India including West Bengal. The proposal will surely have a positive impact on the lives and livelihood of millions of Indians belonging to the middle-income group including those from West Bengal. The Middle has been given a lot of facilities and support in this budget. This will also boost the Indian economy in general because of the increase in consumption levels,” the Governor told IANS in an exclusive interview.

He also indirectly nullified the claims of the Trinamool Congress about West Bengal being thoroughly deprived in the Union Budget-2025 proposals.

“The budget truly reflects the spirit of federalism in our country. This is an action plan for achieving the goal of Vikshit Bharat as outlined by Prime Minister Narendra Modi,” the Governor said.

Talking to IANS, the Governor confirmed that he will be delivering the opening address of the budget session of the West Bengal Assembly on February 10.

“It is a constitutional mandate and I am governed by the Indian Constitution,” the Governor told IANS.

Incidentally, the budget session of the state Assembly in 2024 started without the opening address by the Governor.

Meanwhile, a report of the CareEdge Ratings, said that Finance Minister Nirmala Sitharaman has chosen to stimulate consumption while keeping the focus intact on capex and taking rapid strides towards fiscal consolidation.

"Measures to improve the ease of doing business through deregulation, supporting MSMEs, investments, and exports outline a clear strategy for achieving Viksit Bharat in 2047," CareEdge Managing Director and Group CEO Mehul Pandya said.

It added that the Union Budget 2025-26 displays a balanced approach to sustaining economic growth while reinforcing fiscal prudence.

Key tax reforms, including the rationalisation of personal income tax slabs, and the TDS and TCS provisions, aim to simplify compliance and enhance disposable income, fostering consumer confidence.

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