Budget 2025: Nirmala Sitharaman has presented a very progressive budget. The exemption in income tax will give a boost to investment in India. In addition, it will be very beneficial like the relief provided in different areas. The immediate impact of this budget will be that Indians are becoming short for investment in foreign countries like Dubai and other countries. It also encourages farmers.
Secondly, another big thing about this budget is that the income of Rs 12 lakh has been kept tax-free. It can be understood in two ways. Most of the taxpayers are people belonging to the middle class. In such a situation, the number of taxpayers will be reduced. While they will get tax relief, the money left over will be for investment and jobs. People above Rs 12 lakh will also have to pay 15 per cent tax, which was earlier 20 per cent. That is, it is a matter of relief for those people too.
Budget will act like an asteroid
In the economy, it will act like an asteroid in the afternoon. The pace of GDP had slowed down and needed to be emphasised, so the first full budget of the Modi government’s third term will surely gain strength. In addition, other sectors such as power, mining, iron, steel and construction sectors are also being emphasised.
Another thing that got to be seen in particular is that Nirmala Sitharaman came wearing a saree with honey pictures on budget day. The people of Bihar and Mithila region will be very happy to see Nirmala Sitharaman in this dress. He honoured the art there. Bihar will also have industrial benefits.
Big gift to farmers
This budget will work to boost GDP in the country’s economy. The growth rate of the country’s economy will be strengthened. Capital gains tax has also been waived. The central government has given a big gift to the farmer in which the limit of the farmer credit card has been increased from Rs 3 lakh to Rs 5 lakh. This will give relief to farmers in the money required in the form of fertilisers and seeds for investment.
The middle class, in a way, is the backbone of democracy, the largest consumer class. The middle class pays tax-GST. Industrial production, fashion production, all of which are most commonly used by these middle class people. The tax involved in this is also paid by the middle class. In such a situation, if the middle class gets relief, then this class will move towards prosperity. If there is saving, then the demand will also increase. The GDP growth rate was slowing down, it will increase rapidly. The middle class has a big hand in the success of democracy in India.
Major role of middle class in economy
In a country of the upper class, the number between 5% and 10% is difficult. While the rest of the low-income groups are in or slightly above the poverty line, they are not consumers of that kind of thing. They consume minimised items. Depends on the minimum requirement, including bread, clothing and shelter. But as far as mass consumption is concerned, which will boost industry and production, they are the middle class.
The middle class is the soul of the country. This includes everything from the teaching community to white-collar jobs. There are a large number of teachers in the villages. The middle class also includes the lower middle class. In addition, credit limit and interest relief for startups is also a progressive move by the government. It will definitely boost start-ups.