Union finance minister Nirmala Sitharaman on Sunday responded to an X (formerly Twitter) user's request to relieve India’s middle class, acknowledging his concern and assuring that the government is attentive to such issues.
The user praised Nirmala Sitharaman and requested relief for the middle class, expressing admiration for her efforts and acknowledging the challenges involved.
“@nsitharaman 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 just a heartfelt request,” wrote Tushar Sharma on X.
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Hours later, Sitharaman responded by saying, “Thank you for your kind words and your understanding. I recognise and appreciate your concern. PM @narendramodi's government is a responsive government. Listens and attends to people’s voices. Thanks once again for your understanding. Your input is valuable.”
In July, the finance minister said that the government aimed to provide relief to the middle class through the Union Budget 2024, although there were limitations.
{{/usCountry}}In July, the finance minister said that the government aimed to provide relief to the middle class through the Union Budget 2024, although there were limitations.
{{/usCountry}}Speaking to Times Now, she had said, “I want to relieve the middle class but I have limitations too. I want to give relief by reducing the tax rate, which is why the standard deduction was increased from ₹50,000 to ₹75,000. Additionally, by raising the tax rate for higher-income groups, their tax liabilities also increased. The new tax regime was introduced with the goal of lowering tax rates compared to the old regime.”
She had said that she understood the challenges faced by the middle class, saying, “I am also from the middle class...and understand their problems.”
The Budget 2024 proposed changes to the income tax slabs under the new tax regime, aiming to benefit individuals with taxable incomes of up to ₹10 lakh.
There is no change in the basic exemption limit under both the old and new tax regimes. Under the new tax regime, no tax is payable if taxable income does not exceed ₹7 lakh.