Union finance minister Nirmala Sitharaman
NEW DELHI: A tweet grabbed Nirmala Sitharaman‘s attention as the Union finance minister replied to the X user asking for relief for the middle class, highlighting the economic pressures they face.
“We deeply appreciate your efforts and contributions to the country, and you have our utmost admiration. I humbly request you to consider providing some relief for the middle class. I understand the immense challenges involved, but it’s only a heartfelt request,” the submit learn.
The finance minister, whereas responding acknowledged the priority and mentioned that Prime Minister Narendra Modi’s authorities “listens to people’s voices”.
“Thank you for your kind words and your understanding. I recognise and appreciate your concern. PM Narendra Modi’s government is a responsive government. Listens and attends to people’s voices. Thanks once again for your understanding. Your input is valuable,” she mentioned.
India’s center class continues to grapple with financial challenges amidst rising inflation. Retail inflation surged to six.21% in October, breaching the Reserve Financial institution of India’s (RBI) higher tolerance restrict. Meals inflation soared to 10.87%, pushed by sharp will increase within the costs of greens, potatoes, and onions. Wholesale worth inflation additionally climbed to a four-month excessive of two.36%, with meals gadgets exhibiting a dramatic rise of 13.54%.
The federal government has confronted stress to deal with these points, as inflation impacts family budgets, particularly for middle-class households.
Opposition criticism
Sitharaman has confronted criticism from opposition events, notably relating to her dealing with of middle-class considerations within the Union Price range. Critics claimed the funds prioritised the rich over salaried and middle-class residents regardless of the Modi authorities’s introduction of tax advantages over time to ease the burden on the center class.
Sitharaman has defended the federal government’s strategy, citing measures resembling rising the usual deduction for salaried workers, liberalising private revenue tax slabs, and introducing exemptions like tax aid on household pensions.
Taxpayers incomes as much as Rs 7 lakh yearly now profit from exemptions, in comparison with Rs 2 lakh in 2014. Moreover, reforms in private revenue tax slabs have decreased liabilities, and the tax burden on people incomes between Rs 10 lakh and Rs 20 lakh has dropped by practically 60% over the previous decade, after adjusting for inflation.
