Tirupati : The Union Budget 2025-26 presented by finance minister Nirmala Sitharaman in the Lok Sabha on Saturday has provided much-needed relief to middle-class salaried individuals. Several proposals in the budget have been well received by various sectors, as they are expected to give a significant boost to the economy.

Chartered accountant P Sudarsanam Naidu highlighted that a major relief measure allows middle-class salaried individuals to be exempt from paying income tax on earnings up to Rs.12 lakh per annum.

This change is set to benefit over eight crore taxpayers who previously paid taxes despite having incomes below this threshold. The tax-free slab, which was earlier up to Rs.3 lakh, has now been increased to Rs 4 lakh. Consequently, individuals earning below Rs.12 lakh without additional sources of income will be outside the tax net in the upcoming fiscal year.

Senior citizens will gain from the increased deduction on interest, which has doubled from the current Rs 50,000 to Rs 1 lakh. Another welcome move is the elimination of TDS on foreign remittances for loans taken by parents for their children’s education abroad. The removal of TCS on purchases will also provide relief to buyers, making transactions smoother and more cost-effective.

Prof BN Neelima from the Department of Communication and Journalism at Sri Padmavati Mahila Visvavidyalayam noted that the budget significantly supports India’s toy sector. By promoting indigenous toy designs that reflect India’s cultural heritage, the budget aims to enhance global awareness of traditional Indian art and craftsmanship.

This initiative has the potential to create thousands of jobs in a sector that has remained largely unexplored. The Kondapalli, Marapachi, and Etikoppaka toy manufacturing sectors in Andhra Pradesh are expected to receive a substantial boost.

A strong emphasis on gender equality and women’s empowerment is evident in the budget. Financial support of up to Rs 2 crore in term loans will be extended to five lakh first-time women entrepreneurs from scheduled castes and scheduled tribes.

The allocation of Rs 3,150 crore to the Mission Shakti scheme under the women and child development ministry is another step toward fostering an inclusive environment that empowers women economically, socially, and professionally.

However, the real estate sector has expressed disappointment over the budget. Former President of CREDAI Tirupati Chapter, V Srinavas, remarked that key expectations were unmet. While the budget permits individuals to buy two houses without additional taxation, it falls short in addressing the sector’s broader concerns. Expectations regarding reduced prices for essential materials like steel, cement, tiles and cables were left unfulfilled.

A minor relief comes in the form of an increase in the TDS exemption limit on rental income, which has been raised from Rs.2.5 lakh to Rs.6 lakh annually.

The agriculture sector also witnessed some positive announcements. Special invitee of the Consortium of Indian Farmers Association (CIFA), M Gopal Reddy, acknowledged the increase in the Kisan Credit Card limit from Rs.3 lakh to Rs.5 lakh and support for horticulture farmers and agricultural development in backward districts.

The introduction of Artificial Intelligence for agriculture is a notable initiative, alongside the special mission for pulses and grains and support for cooking oils under Atma Nirbhar Bharat. However, concerns remain regarding the unequal distribution of benefits, with certain states, like Bihar, receiving a larger share of the allocations.