Will Budget Ease Middle Class Burden?

31 Jan 2025 , 09:39 AM

The middle-class consumers are suffering from a variety of issues. These issues include the “caramelized” misunderstanding surrounding GST, the ongoing “toll” of road tolls, inflation, and yes, shrinkflation. The price of healthcare and most other essentials is going up, and the only things that are going down are your purchasing power and the worth of your money.

The writing is on the wall as the final days of the countdown to Budget 2025 approach. More than 65.1% of respondents to an ET pre-budget survey of more than 5,000 people stated that not enough is being done for the middle class.

The foundation of India’s economy is under tremendous strain due to growing expenses, stagnant salaries, and a lack of structural support. Conversely, 17.5% of those surveyed expressed worries about a misguided subsidy system and called for more focused assistance. However, the overall picture is still concerning.

Raghuram Rajan, the previous head of the RBI, has raised concerns about India’s demand-consumption trends. For the second time in three months, the cost of everyday consumables is expected to rise.

According to an earlier ET story, corporations are projecting muted revenue growth for the upcoming quarters as a result of the price hike and the ongoing decline in demand for everyday goods and commodities, particularly in urban areas.

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