iamram ◎

The middle class is being sandwiched between the rich class and the poor class. The middle class is caught between rising costs and rising taxes. For the middle class, this Budget had one message. Carry on as you were. In Parliament, I pointed out that there was no revision in income tax slabs and no increase in standard deduction, despite stagnant salaries and inflation at 6.8%. I urged the Finance Minister to correct this in this Budget itself by raising the standard deduction from ₹75,000 to ₹1.5 lakh for the salaried class. Meanwhile, household costs keep climbing. Education 8% 🔺, healthcare 9% 🔺, rent 7% 🔺, food 6% 🔺, transport 5% 🔺. For the first time in years, personal income tax collections are higher than corporate tax. Individuals paid around ₹11 lakh crore, corporates about ₹9.8 lakh crore. Either give tax relief, or give investment savings & incentives so the middle class can save more and build wealth.