Budget 2025-26: Relief for small traders: Beopar Mandal
Tribune News Service
Chandigarh, February 1
The Chandigarh Beopar Mandal (CBM) has welcomed the Union Budget as positive for traders and the middle class.
CBM president Charanjiv Singh and spokesperson Diwakar Sahoonja said the Budget has provided relief to small traders by extending tax benefits and simplifying compliance procedures.
The allocation of funds for infrastructure development, including roads, railways, and logistics, will improve connectivity andx reduce transportation costs for traders, they said, adding that the Budget’s focus on digitalisation will enable traders adopt to new technologies and improve their competitiveness.
Positive impact
We are confident that the Budget will have a positive impact on trading community and economy as whole. — Charanjiv Singh, president, Chandigarh Beopar Mandal
WILL DRIVE GROWTH
Increased public and private expenditure will drive growth across sectors, creating a positive impact on businesses. — Naveen Manglani, vice-president, Chamber of Chandigarh Industries
The Budget has provided support to Micro, Small and Medium Enterprises (MSMEs) through credit guarantees, subsidies and other incentives, they added. “We are confident that the Union Budget will have a positive impact on the trading community and the economy as a whole,” said Charanjiv Singh.
“We appreciate the government’s efforts to promote economic growth, improve infrastructure and support small businesses and traders,” said Satpal Gupta, chairman, Chandigarh Beopar Mandal.
‘To boost economic activity’
Naveen Manglani, vice-president, Chamber of Chandigarh Industries, said the Budget was progressive and designed to boost economic activity by encouraging consumer spending. “Increased public and private expenditure will drive growth across various sectors, creating a positive impact on businesses and employment,” he said.
A key highlight is the revolutionary changes in individual direct taxes.
The simplified tax structure reduces complexities, making compliance easier while ensuring more disposable income for the middle class, he added.
This will enhance purchasing power, improve savings, and contribute to overall economic stability. The budget strikes a balance between growth and fiscal responsibility, setting a strong foundation for sustained development, he adds.
In the Union Budget, the government has introduced a Rs 5 lakh credit card limit for micro units under the Micro, Small and Medium Enterprises (MSME) sector. This initiative aims to enhance financial accessibility for micro businesses, ensuring easier access to working capital and credit facilities.
‘Focus on urban development’
The people-friendly Budget, appeared to be for good governance with relief for almost everyone, said Advocate Ajay Jagga. A slew of direct tax reforms were proposed as the income tax exemption is enhanced to Rs 12 lakh and for employees it goes as 12.75 lakh. “Senior citizens will benefit from an increased interest deduction limit of Rs 1 lakh, and TDS on rent will rise to Rs 6 lakh from 2.4 lakh,” he said. So, relief to every income tax payee, senior citizens and property owners, he added.
‘Beneficial for middle class’
Beneficial for the middle class, the Budget provided relief in income tax from Rs 5 lakh to Rs 12 lakh with zero percent tax, said Advocate Sachit Jaiswal, Excise and Taxation.
He said the budget focuses on to establish cancer day care centres in all government hospitals and reduces the price of cancer care medications and ended duty tax on 36 life-saving medicine.
On the other hand, RK Garg, president, Second Innings Association, stated the UT Administration received only Rs 6,185.18 crore for revenue expenditure, which was less than 4 per cent and Rs 143 crore more for capital expenditure from Rs 655 crore to 798 crore, which was 22 per cent more, he said, adding that the Administration was quoting the Budget Estimates and not the revised budget.
