Exclusive: Union Minister Hardeep Puri Decodes 'Development' Budget 2025

Increased spending from the middle class, enabled by lowered income taxes, will massively expand India's economic growth. Union Minister Hardeep Puri also rebuts discourse that the new budget is favouring the middle class because of Delhi elections.

Finance Minister Nirmala Sitharaman presented a record eighth consecutive budget, which is expected to contain measures that ease the burden on the middle class struggling with high prices and stagnant wage growth while being fiscally prudent. As per the Economic Survey tabled on Friday, the Indian economy is expected to grow at 6.3-6.8 percent in 2025-26. While India will need structural reforms and deregulation to reinforce medium-term growth potential, investment activity is expected to pick up.