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Union Budget 2025: Will there be income tax relief for middle class? Here's what PM Modi said
Every year, salaried taxpayers hope for lower tax rates, revised tax slabs, and a higher standard deduction to reduce their tax burden
Updated : Jan 31, 2025, 01:17 PM IST
 "Union Budget 2025: Will there be income tax relief for middle class? Here's what PM Modi said")
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The Budget session of Parliament began today with Prime Minister Narendra Modi addressing the media. Finance Minister Nirmala Sitharaman will present the Union Budget 2025 tomorrow, February 1.
PM Modi invoked Goddess Lakshmi while talking about the poor and middle class, sparking curiosity about possible tax relief. "I pray that Goddess Lakshmi showers blessings on the poor and middle class. India has completed 75 years as a democracy and has made a mark on the global stage. This is the first full Budget of my third term, and I can confidently say that by 2047, when India completes 100 years of Independence, we will achieve our goal of Viksit Bharat (Developed India). This Budget will give new energy and hope to the nation," he said.
#WATCH | #BudgetSession | PM Modi says, "I pray that Maa Lakshmi continues to bless the poor and middle class of our country. It is a matter of great pride that India completed 75 years as a democratic nation. India has established itself well on the global pedestal...This is the… pic.twitter.com/BF2dT2oTz9
— ANI (@ANI) January 31, 2025
He further emphasised innovation, inclusion, and investment as key pillars of economic growth. "This Budget session will infuse new confidence and energy in attaining our goal of Viksit Bharat," he added.
PM Modi’s focus on the middle class has raised expectations of income tax relief. Every year, salaried taxpayers hope for lower tax rates, revised tax slabs, and a higher standard deduction to reduce their tax burden. Experts have also suggested reforms in the new tax regime to increase disposable income.
All eyes will be on FM Sitharaman’s speech tomorrow to see if 2025-26 will bring relief for taxpayers or not.
