Union Budget 2025: Sajjan Bhajanka Hails Balanced Approach for Long-Term Growth
Sajjan Bhajanka, the Founder and Chairman of Century Plyboards Limited, has lauded the Union Budget 2025 for its balanced approach, emphasizing significant benefits for the middle class. Bhajanka spoke to IANS on Saturday, expressing his approval of the budget’s measures, particularly in the areas of tax relief and system simplifications.
New Delhi: Sajjan Bhajanka, the Founder and Chairman of Century Plyboards Limited, has lauded the Union Budget 2025 for its balanced approach, emphasizing significant benefits for the middle class. Bhajanka spoke to IANS on Saturday, expressing his approval of the budget’s measures, particularly in the areas of tax relief and system simplifications.
Bhajanka described the budget as well-rounded, stating, “The budget is balanced, and there’s nothing negative about it.” He highlighted the new tax regime as one of the standout features of the budget, offering substantial relief to taxpayers.
“The middle class has definitely benefited, particularly with the removal of income tax for those earning up to Rs 12 lakh per year. This relief eliminates their compliance burden, allowing them to focus more on growth and less on paperwork,” Bhajanka noted.
Under the revised tax slabs, taxpayers will see financial benefits ranging from Rs 70,000 to Rs 1.25 lakh, thanks to lower rates on higher income brackets. Bhajanka stressed that this is a major relief for all income taxpayers.
The Union Budget 2025 also introduces significant changes, including a progressive tax structure with rates ranging from 0% to 30%, depending on earnings. Other key reforms include the rationalization of Tax Deduction at Source (TDS) rates, doubling tax deductions for senior citizens to Rs 1 lakh, and extending the time limit for filing updated returns from two years to four years.
Bhajanka acknowledged the high expectations surrounding the budget, especially with Prime Minister Modi at the helm, but stated that the budget provides a balanced foundation for long-term growth. He suggested that more impactful measures may be revealed in the future, ensuring continued economic progress.
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The budget’s focus on simplification and tax relief, along with its balanced approach, is expected to stimulate growth across various sectors, especially benefiting the middle class and senior citizens.
