CAIT Kashmir welcomes Budget
The Confederation of All India Traders (CAIT) Kashmir Chapter welcomed the Union Budget 2025, presented by Hon’ble Finance Minister Nirmala Sitharaman under the visionary guidance of Prime Minister Narendra Modi.
In a statement, CAIT Kashmir president, Farhan Kitab said that this budget brings a historic boost for India’s 80 million traders and the middle class, fostering economic growth, simplifying taxation, and strengthening the domestic trade ecosystem. The increase in the income tax exemption limit to `12 lakh will significantly enhance purchasing power, drive demand, and boost economic activity.
Tax Reforms: No income tax on earnings up to `12 lakh, benefiting traders and salaried individuals. New Income Tax Bill to simplify compliance.
MSME & Start-up Growth: Investment limits for MSME classification raised 2.5 times, turnover limits doubled, and enhanced credit guarantee cover for MSMEs and start-ups.
Infrastructure & Urban Development: `1 lakh crore Urban Challenge Fund to transform cities into economic growth hubs.
Empowering Small Entrepreneurs: Mudra loans for homestays, revamped PM Swanidhi Scheme with `30,000 UPI-linked credit card, and special term loans for 5 lakh women and SC/ST entrepreneurs.
Support for Domestic Industries: Special schemes for footwear, leather, and toys sector to create 22 lakh jobs and boost exports over `1.1 lakh crore.