The implementation of legislation that would improve social security and tax relief that would alleviate their financial difficulties are what middle class taxpayers are hoping for.
 
Given the large number of people in the middle income range, experts think that a budget that is friendly to the middle class will eventually improve the lives of millions of people nationwide by increasing savings and boosting consumption. The founder and CEO of StockGro, ajay Lakhotia, has advocated raising the standard deduction cap.

According to him, "one of the main expectations is raising the standard deduction limit on income tax, which would give middle class families much-needed relief and increase disposable income, encouraging greater economic participation."
 
The director of VSRK capital, Swapnil Aggarwal, expects favorable regulations for capital gains investments to be implemented.
 
The new restrictions are expected to boost investor confidence and increase tax advantages for the wealth management industry. "Encouraging both short- and long-term capital gains investments through favorable tax policies is a notable focus," he stated.
 
In addition, Aggarwal called on the government to strengthen its incentives for green technologies. "With increased support for green technology and renewable energy initiatives, steps to address environmental challenges remain central," he stated.
 
He also advocated for laws that would encourage prudent investing and be investment-friendly for wealthy people.
 
Policies that promote investments and uphold strict regulatory structures intended to protect their interests are anticipated to benefit HNIs. In addition to encouraging responsible investing, these actions support the more general objective of economic resilience, said Aggarwal.
 
Reduced regulatory constraints for people and organizations are what Kunal Gala, Partner, Deal Value Creation, BDO India, expects.
 
Concerns raised by the middle class about public services, tax complexity, and compliance requirements are crucial in addressing the actions required to maintain the benefits for a sizable population. In order to guarantee steady revenue growth and lessen dependency on indirect taxes, which disproportionately affect lower-income groups, a balanced strategy is required.
 
"Budget 2025 aims to promote holistic development and guarantee a safe, prosperous future for all stakeholders by addressing important areas like taxpayer relief, business compliance, environmental sustainability, and strong wealth management regulations," Swapnil Aggarwal continued.
 
 
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G GOWTHAM

30/01/2025 12:56 PM