Tax relief for middle class: Finance Minister Nirmala Sitharaman’s statement makes it clear that the government is aware of the problems of the middle class. It is expected that in the upcoming budget, the government will consider giving some relief to the middle class.
Income tax Relief for middle class: For some time now, people belonging to the middle class have been demanding tax relief from the government. Finance Minister Nirmala Sitharaman on Sunday responded to a tweet by a social media user demanding tax relief for the middle class. In the tweet, the user had requested the Finance Minister to reduce the tax burden on the middle class.
The user had posted that “I humbly request you to consider giving some relief to the middle class. I understand the challenges involved, but this is just a heartfelt request.”
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. https://t.co/0C2wzaQtYx— Nirmala Sitharaman (@nsitharaman) November 17, 2024
Modi government pays attention to people’s concerns: Nirmala Sitharaman
Reacting to this, Nirmala Sitharaman said that the government led by Prime Minister Narendra Modi listens to the voices of the people and gives importance to their suggestions. Describing the user’s suggestion as valuable, she said that the government seriously considers the concerns of the people.
Nirmala Sitharaman replied to the users on Instagram and said, “Prime Minister Narendra Modi’s government is a responsible government. It listens to the voice of the people and pays attention to it. Thank you once again for your understanding. Your suggestion is valuable. I understand your concern and respect your point of view.”
Tax burden on middle class reduced in last 10 years
During the 10-year tenure of the government led by Prime Minister Narendra Modi, the tax burden on the middle class i.e. individuals earning less than Rs 20 lakh per annum has reduced. According to government data, the percentage of income tax collection from taxpayers earning less than Rs 10 lakh has come down to 6.22 percent in 2024 from 10.17 percent in 2014.
Government’s stand on giving tax exemption
It is clear from the statement of Finance Minister Nirmala Sitharaman that the government is aware of the problems of the middle class. However, the government has not yet taken any concrete decision on this issue. It is expected that in the coming budget, the government will consider giving some relief to the middle class.
At the same time, experts believe that the government should take some steps to provide relief to the middle class. This may include changes in the income tax slab, increase in standard deduction and reduction in GST on some essential commodities.
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