Piyush Goyal calls Budget 2025-26 a transformational step toward a developed India

NEW DELHI : Commerce and Industry Minister Shri Piyush Goyal hailed the Union Budget 2025-26 as a transformational budget, with a balanced and forward-looking approach.

“Continuity is evident in the Budget, but very strategic in its outlook. It has planned a vision very holistically,” Goyal said on Finance Minister Nirmala Sitharaman‘s announcements on February 1.

One of the Budget’s most impactful aspects, according to Shri Goyal, is the significant boost provided to India’s rapidly growing middle class. “The benefits given to the middle class straight away results in money in the pocket of the middle class,” he said.

FM Sitharaman’s Budget 2025-26 raised the zero-tax income slab from ₹7 lakh to ₹12 lakh under the new tax regime.

Shri Goyal framed this shift as part of a broader strategy for economic growth. “So far, the government had focused on investment-led growth, and now we will have both investment-led and consumption-led growth, which is how developed economies of the world have been created,” he emphasised. According to him, this balanced approach is key to realising the government’s vision of a “developed India.”