Budget 2025: Is Good News on the Way for the Poor and Middle Class, as Modi Hints?

As the country eagerly anticipates the presentation of Budget 2025, Prime Minister Narendra Modi’s recent comments have sparked significant discussion. Speaking ahead of the budget session of Parliament, Modi hinted that the budget would bring positive news for both the poor and the middle class, which has generated much excitement among the public.

In his address, Modi spoke about the significance of the budget and the role it would play in India’s future development. “I pray that Goddess Lakshmi’s blessings continue to guide the poor and middle class of our country. India’s journey over the past 75 years as a democracy has been one of pride, and today we stand firmly on the global stage,” he said.

This year's budget, which will be the first full budget of Modi's third term, is seen as crucial in laying the foundation for India’s growth by 2047, marking 100 years of independence. Modi expressed confidence that the budget would provide the country with renewed energy and hope for the future.

Speculation on Tax Relief

One of the most anticipated aspects of Budget 2025 is potential relief in income tax rates, particularly for the middle class, who have long raised concerns about the tax burden. With income tax slabs largely unchanged since 2020, and rising inflation impacting the cost of living, there are growing calls for adjustments.

Modi’s mention of Goddess Lakshmi has sparked fresh speculation that the government may address these concerns by revising income tax rates in the upcoming budget. This comes after years of public debate surrounding the financial strain caused by both income tax rates and the GST implementation.

What About Other Subsidies and Schemes?

Apart from tax relief, many are also wondering if the government will reinstate subsidies, such as for LPG cylinders, or expand existing welfare programs like PM Kisan, PMAY, and Jal Jeevan. These schemes have been a topic of frequent political promises, and there is growing expectation that the budget will bring some updates or improvements.

With Finance Minister Nirmala Sitharaman set to present the budget on February 1, all eyes will be on whether these speculations come to fruition, especially given the political importance of addressing the needs of the poor and middle class.

In the days leading up to the presentation, anticipation continues to build, as citizens and lawmakers alike await details on how the budget will shape India’s economic future and the welfare of its people.