CAIT Kashmir Chapter welcomes Union Budget, calls it a boost for traders and middle class

Srinagar: The Confederation of All India Traders (CAIT) Kashmir Chapter, has wholeheartedly welcomed the Union Budget 2025, presented by  Finance Minister Nirmala Sitharaman today.

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, President Farhan Kitab, said in a statement to Ziraat Times.

Key Announcements Benefiting Traders & Business Community:

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.

Agriculture & Rural Development: Kisan Credit Card (KCC) loan limit increased to ₹5 lakh and new Dhan Dhanya Krishi Yojana covering 100 districts.

“The Union Budget 2025 is a game-changer for traders, MSMEs, and the middle class. The enhanced tax exemption, MSME support, and urban development initiatives will fuel economic growth, increase domestic demand, and strengthen the ease of doing business. CAIT Kashmir Chapter expresses gratitude to Hon’ble PM Shri Narendra Modi Ji and FM Smt. Nirmala Sitharaman Ji for prioritizing the interests of traders and small businesses in this visionary budget”, Mr Farhan said.