A Bold Budget Fueling Middle-Class Growth and Economic Transformation

Finance Minister Nirmala Sitharaman has unveiled a bold budget aiming to spur consumption, particularly among middle-class families. It includes incentives for MSMEs, startups, and exports. Tax reforms, a revamped UDAN scheme for aviation, and policies promoting ease of business are key components fostering India's economic growth.

Finance Minister Nirmala Sitharaman has introduced a daring budget designed to ignite consumption, particularly within India's vibrant middle class. The budget emphasizes empowering MSMEs, startups, and increasing exports, according to Assocham President Sanjay Nayar.

Unveiled in the Lok Sabha, the budget focuses on spurring middle-class spending and bolstering public investment. Sectors like tourism and textiles have been prioritized for immediate growth, along with a major boost in the aviation sector through the modified UDAN scheme, notes Ajay Singh, CMD of SpiceJet.

Nayar highlights major tax reforms, including tax-free income up to Rs 12 lakh, easing procedures for small enterprises, and promoting domestic manufacturing under the Make in India initiative by adjusting customs duties.

(With inputs from agencies.)