MUMBAI: Maharashtra Chief Minister Devendra Fadnavis has lauded the Union Budget 2025, referring to it as a "dream budget" for the middle class. He emphasized the increase in the income tax exemption slab, which has been raised to Rs 12 Lakhs, calling it a pivotal step for India’s economy.

Fadnavis praised the hike in the income tax exemption limit, noting that it would result in individuals having more disposable income, thus boosting economic growth. "Raising the taxable income threshold from Rs 7 lakh to Rs 12 lakh is a landmark decision. It will provide significant relief to the middle class, salaried workers, and young professionals, enabling them to retain a larger portion of their earnings," he remarked. He also highlighted the innovative schemes announced for the agriculture sector.

The budget outlines substantial allocations for Maharashtra, including Rs 683 crore for the Rural Connectivity Improvement Project, Rs 100 crore for the Agribusiness Project, Rs 1,094 crore for Economic Clusters, Rs 186 crore for Lift Irrigation Projects, Rs 699 crore for Pune Metro, Rs 1,255 crore for Mumbai Metro, Rs 4,004 crore for the Mumbai-Ahmedabad bullet train, Rs 683 crore for rural development, Rs 295 crore for the Nagdhi River, and Rs 229 crore for the Mula-Mutha River development.

Fadnavis also emphasized the budget’s significance for Maharashtra’s startup ecosystem, dubbing the state as India's "startup hub." "With a Rs 20 crore loan limit for startups, this budget will support the growth of new businesses and foster job creation," he said.

Regarding infrastructure, he welcomed the new policy framework and the extension of the 50-year interest-free loan scheme for foundational projects, pointing out that Maharashtra would continue to benefit greatly. He also noted that Public-Private Partnership (PPP) projects would attract private investment and stimulate job creation.

"This budget strengthens Maharashtra’s development across multiple sectors. It promises sustained economic growth, enhanced infrastructure, and essential support for agriculture, startups, and employment generation," Fadnavis concluded.