Budget 2025 Offers Significant Reliefs to Middle Class and Senior Citizens, Boosting Economic Growth
New Delhi: In a highly anticipated move, the government has unveiled a budget that promises significant benefits to the middle class and senior citizens, aimed at boosting consumption and economic growth.
According to Meghna Mishra, Senior Partner at Karanjawala & Co, "The overall budget is extremely beneficial for the middle class and senior citizens. Measures such as increasing the TCS threshold limit from ₹7 lakh to ₹10 lakh, doubling the TDS threshold for senior citizens, and providing no income tax payable up to ₹12 lakh will not only bring relief but also spur spending and economic expansion."
The government's strategic reforms are expected to enhance ease of business, promote trust-based economic governance, and create a more robust, inclusive, and future-ready economy.
Key highlights of the budget include:
- Increased TCS threshold limit for TCS from ₹7 lakh to ₹10 lakh
- Doubled TDS threshold for senior citizens
- No income tax payable up to ₹12 lakh
To implement these measures effectively, a high-level committee has been set up with the objective of trust-based economic governance and making transformational measures within an year. This move aims to stimulate economic expansion and further simplify the ease of doing business.
Commenting on the budget's vision for India by 2047, Meghna Mishra noted that these reforms align perfectly with the government's vision, positioning it as a well-balanced and progressive budget that supports both the common man and industry.
The budget is expected to have a positive impact on consumer spending and boost economic growth in India, setting the stage for a prosperous future.