By A Staff Reporter
New Delhi: The Union Budget 2025 has garnered strong support from the ruling Bharatiya Janata Party (BJP), with party leader Gourav Vallabh lauding it as a transformative and growth-oriented fiscal plan. Addressing the media, Vallabh highlighted key measures aimed at stimulating market demand, job creation, and economic empowerment.
"The government has provided a tax benefit of one lakh crore rupees to middle-class families, which will stimulate market demand and create jobs, multiplying the economic impact 10 to 20 times," Vallabh stated. He projected that these measures could boost India’s GDP by around ₹20 lakh crore, signaling robust economic growth.
The budget also places significant focus on Micro, Small, and Medium Enterprises (MSMEs), increasing the loan guarantee limit to ₹10 crore and removing the social welfare surcharge to ease financial burdens. Additionally, new initiatives aim to establish Global Capability Centers in tier-2 cities, creating new employment hubs.
A notable highlight is the introduction of a new leather industry scheme, expected to generate 22 lakh jobs nationwide. For the youth, the budget allocates ₹10,000 crore for startups, ₹500 crore for AI Centers of Excellence, and proposes an increase in medical and IIT seats to enhance educational opportunities.
Women entrepreneurs stand to benefit from a groundbreaking provision allowing loans of up to ₹2 crore without the need for guarantees—a move Vallabh described as a "significant step in economic empowerment."