Budget 2023: Recently, Finance Minister Nirmala Sitharaman said that she shares the empathy of the middle class as she grew up in one. Expressing solidarity with the average middle-class household, she said the Union Budget 2023 will be focused on common man. For the longest time, the major concern for the middle class has remained inflation at large. Other than inflation, the middle class has also suffered job loss due to Covid-19 pandemic induced lockdown.
Inflation
The middle class has been driving the country’s world-beating growth for years. However, with the rising cost of living, falling income and lay offs, the middle class has been affected the most. Experts believe that the middle class, especially households earning Rs 5-10 lakh annually, suffer the burnt the inflation. Talking about the same, Amit, a commoner, told us, “the cost of living is twice to our earning.” He then went on to state that if someone leaves their home for employment, the entire goes in making a livelihood, with nothing left in the savings.
He then urged the FM to put a full stop on exponentially rising inflation that has wreaked havoc among the lower middle class.
Another man, Himanshu, said, “Covid has already broken common man’s backbone. With the rising inflation, the market has lost its charm.” He appealed the government to take this into consideration and provide some much-needed respite to the common man.
Employment
Another man, Sparsh, listed the need of job creation as the youth of the country continues to face the wrath of employment. He said that budget should take everyone into consideration.
Apart from employment and inflation, tax deduction remains a common concern for the Aam Aadmi.
For the unversed, Finance Minister Nirmala Sitharaman will present Union Budget on February 2023.
Also read: Budget 2023: Ed-tech industry looks for reforms to make India an education hub
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