Will Modi’s Budget Usher in an Era of Generosity for the People?
Table of Contents
- 1. Will Modi’s Budget Usher in an Era of Generosity for the People?
- 2. How will the government balance its social welfare commitments with fiscal prudence in the upcoming budget?
- 3. Will Modi’s Budget Deliver for the people? An Economic Expert Weighs In
- 4. Dr. Sharma, Prime Minister Modi has hinted at a “special generosity” towards the poor and middle classes. What are your expectations from the upcoming budget?
- 5. There’s considerable anticipation for income tax reforms,particularly considering the stagnation as 2020. Do you foresee any major changes in this area?
- 6. Economists are predicting a boost to consumer spending. Which sectors stand to benefit most from the budget?
Dr. Sharma:
Sectors directly tied to welfare programs and the purchasing power of lower and middle income groups are likely to see a significant uplift. We could see increased spending in sectors like affordable housing, healthcare, and consumer durables. Reintroducing LPG subsidies could also provide a major boost to the energy sector and households who rely on cooking gas.Budget 2025-26 is positioned to propel India to become the world’s third largest economy. What role will this budget play in achieving this ambitious target?
- 7. What are your final thoughts on the upcoming budget? What should we be watching out for?
Ahead of the nation’s financial blueprint unveiling, Prime Minister Narendra Modi has stirred speculation about a perhaps generous budget specifically targeting the poor and middle classes.
Invoking the Hindu goddess of wealth, Lakshmi, Modi expressed his earnest wish for her “special generosity” towards these demographics. He underscored the importance of achieving this with prudence, hinting at a balanced approach between welfare and fiscal duty.
This sentiment has fueled anticipation for a budget that goes beyond the usual,especially for the middle class,who traditionally focus on income tax rates. The lack of significant changes to these rates since 2020, coupled with the rising cost of living and economic slowdown, has created a strong demand for revisions.
Economists predict a potential boost to consumer spending through measures such as reintroducing LPG subsidies—a popular campaign promise—or enhancing existing welfare programs like PM-KISAN, which provides income support, and asset-building initiatives like PMAY (housing) and Jal Jeewan Mission (water access).
“I can say with confidence this Budget session will infuse new confidence, and energy in attaining our goal of viksit Bharat [developed India],” Modi stated confidently outside Parliament. He emphasized innovation, inclusion, and investment as the cornerstones for economic progress.
The upcoming Economic survey, which provides an assessment of the nation’s economic health, is set to be released on Friday, paving the way for the Union Budget for 2025-26 on Saturday. The government aims to use this budget to propel the Indian economy towards becoming the world’s third largest, a goal bolstered by its current position as the world’s fifth largest.
Will Modi’s Budget Deliver for the people? An Economic Expert Weighs In
Ahead of the Union Budget 2025-26, speculation is rife about whether Prime Minister Narendra Modi will truly usher in an era of generosity for the people, especially the middle class. We spoke to Dr. anya Sharma, a leading economic analyst, to get her insights.
Dr. Sharma, Prime Minister Modi has hinted at a “special generosity” towards the poor and middle classes. What are your expectations from the upcoming budget?
Dr. sharma:
While it’s tough to predict specific measures, PM Modi’s words suggest a focus on expanding social welfare programs and perhaps providing relief to middle-income households. We might see significant changes to existing schemes like PM-KISAN,or the introduction of new initiatives to bolster income and asset building
There’s considerable anticipation for income tax reforms,particularly considering the stagnation as 2020. Do you foresee any major changes in this area?
Dr.Sharma:
The prolonged absence of income tax revisions amidst rising inflation and a slowing economy has indeed created a huge demand for change. Though the government’s priority seems to be social welfare, I wouldn’t rule out some minor tweaks to income tax brackets to provide immediate relief to the middle class. However, significant, structural changes are unlikely this time around.
