Shaadi.com founder, Anupam Mittal, termed the tax revisions announced in Budget 2025 a ‘systemic correction’. The Shark Tank India judge took to social networking platform, LinkedIn, and shared his views about the major tax reforms announced in the latest budget.
The entrepreneur said that the Indian middle class has always been ‘a punching bag’, with the taxpayers of this income category ‘taxed at every turn, squeezed for every rupee, while the ultra-rich found loopholes and businesses got tax breaks’.
“Every Budget, same story > Hope builds up. Expectations rise. Then—another “Sorry, no relief for you.” 💸 But Budget 2025 has come with a big shift. No income tax up to ₹12.75 lakh under the New Tax Regime. I call this a systemic correction, not just a tax cut,” Mittal said in his post.
The businessman added that this Budget has taken a different approach and shifted the direction. Notably, Union Finance Minister Nirmala Sitharaman in her budget presentation on Saturday announced revisions in the tax slabs in the new tax regime and added that no tax will be charged on income of Rs 12 lakh per annum, excluding special income.
Hailing this decision as a gamechanger, the entrepreneur said that the earlier budgets continued to burden the middle class population. “History tells us > strong economies are built on thriving middle classes, not overburdened ones. China in the 2000s focused on the middle class → Higher incomes, rapid economic expansion, massive global influence. India? For years, we got it backwards,” he stated.
He appreciated the recent budget for placing more disposable income in the hands of the people by providing more tax rebates, arguing that this will lead to economic growth and development. “You don’t build an economy by making people feel gareeb. You build it by making them wealthier,” he noted.
The post went viral with Netizens expressing their agreement with Mittal’s sentiment. One user said, “Finally, a Budget that acknowledges the backbone of the economy—>the middle class! More disposable income means more growth, not just for individuals but for the entire economy.”
Also Read : Budget 2025: India Unveils Climate And Energy Reforms To Boost Green Growth
