With the Union Budget for 2025 set to be presented in Parliament today, Mumbaikars are voicing their hopes for much-needed financial relief. Many residents are urging the government to address key issues like tax slabs and inflation, with the aim of easing the financial burden on the common man.
A local banker emphasized the growing expectation for tax relief, particularly for salaried individuals, noting that it has been a long time since any significant changes were made to the tax brackets. "It’s overdue, and it would be great to see some relaxation for people in the Rs 10-15 lakh income category," he said.
Echoing similar sentiments, a Mumbai resident told ANI, "Inflation should be brought under control so that the common man can sustain himself, and the lower class can improve their standard of living. "With inflation and the rising cost of living affecting household budgets, many are expecting the government to introduce income tax cuts, higher deductions, and a more simplified tax structure. India’s middle class, which plays a key role in the country’s economy, has been waiting for meaningful tax relief for several years. Many taxpayers feel the current system does not offer enough benefits, especially when compared to rising expenses.