BY EOK NEWS DESK
Srinagar, Feb 1: Jammu and Kashmir Lieutenant Governor, Manoj Sinha, praised Union Finance Minister Nirmala Sitharaman and Prime Minister Narendra Modi for the “pragmatic” and “bold” Union Budget 2025-26, highlighting its potential to accelerate India’s growth and transform key sectors.
Sinha particularly welcomed the revised tax rate structure, which he called a “historic move” to benefit the middle class, and lauded the relief provided to taxpayers by raising the TDS limit on rent and enhancing social security.
“The revised tax rate structure is a historic move to bring change in the lives of the middle class,” Sinha said, adding, “Hon’ble PM has also provided huge relief to taxpayers by raising the TDS limit on rent, enhancing social security, and formalizing the gig economy.”
The Lieutenant Governor also emphasized the budget’s focus on agricultural growth, with initiatives like the Agri District Programme aimed at fostering rural prosperity and social equity. “The focus on agricultural growth with various initiatives, including the Agri District Programme, seeks to translate the vision of rural prosperity and social equity.”
Sinha highlighted India’s rising global economic stature, noting, “India is the fastest-growing among all major global economies, and this budget will further boost infrastructure, MSMEs, energy, innovation, employment generation, and push transformative reforms for more inclusive and sustainable growth.”
He expressed confidence that the budget would lay a strong foundation for inclusive development in Jammu and Kashmir, empowering farmers, youth, and women.