Will Middle Class Finally Get Relief In Budget 2025? PM Modi Hints At Possibility

Prime Minister Narendra Modi has dropped a subtle hint about potential relief for the middle class. Addressing the media at the start of the Budget session in Parliament, Modi invoked Goddess Lakshmi while speaking about economic progress, sparking speculation that the upcoming budget might include long-awaited tax relief measures.

PM Modi's Hint

In his speech, Modi highlighted India's journey as a democratic nation, stating, "I pray that Goddess Lakshmi showers blessings upon the poor and middle class. This is the first full budget of my third term, and I am confident that by 2047, when India marks 100 years of Independence, we will achieve our goal of 'Viksit Bharat' (Developed India). This budget will bring fresh energy and hope for the nation."

Finance Minister Nirmala Sitharaman is set to present the Union Budget on February 1, 2025.

The Prime Minister emphasized innovation, inclusion, and investment as the pillars of the government's economic roadmap. His direct mention of the middle class ahead of the Budget announcement has fueled speculation about potential income tax cuts, standard deduction hikes, and restructuring of tax slabs under the new tax regime-long-standing demands from taxpayers and economists alike.

The timing of Budget 2025 is critical, as India faces slowed GDP growth, which has dipped to a two-year low of 5.4%. Many experts argue that reducing income tax rates could boost consumer spending and drive economic growth. As this marks Sitharaman's eighth budget and the Modi 3.0 government's second, expectations are high for reforms that could ease the financial burden on the salaried class.

No External Attempts to Disrupt Parliament Session for the First Time Since 2014: PM Modi

In a striking statement, PM Modi noted that, for the first time since 2014, there have been no external attempts to create disturbances. He stated, "Perhaps since 2014, this is the first Parliament session where, just days before its commencement, there has been no foreign attempt to incite unrest."

Taking a dig at the Opposition parties, the Prime Minister said that there were always external forces attempting to create instability, often aided by domestic elements. His remarks underscore the significance of this Budget session, which is expected to introduce several landmark bills.

"Shayad 2014 se lekar ab tak, ye pehla Parliament ka satr hai, ki jiske ek-do din pehle koi videshi chingari nahi pakdi hai, videsh mein se aag lagane ki koshish nahi hui hai (Perhaps since 2014, this is the first session of Parliament in which a day or two before the session, there has been no foreign attempt to stoke a fire from abroad)," he added.