Ahead of the 2025 Union Budget, Prime Minister Narendra Modi made a remark that suggested a potential focus on benefiting the poor and middle class. Speaking on Friday, Modi invoked Lakshmi, the Hindu goddess of wealth, expressing his prayers for her to be especially generous toward these two groups. This statement, made just a day before the government’s second full budget presentation, raised hopes of something out of the ordinary for these segments of society.

Income tax has been a major point of interest, particularly for the middle class, as there have been no significant changes to the tax slabs since 2020. Inflation has eroded real incomes, and many are calling for revisions in tax rates. With India’s GDP growth forecasted to slow down from 8.2% in 2023-24 to an expected 6.4% in 2024-25, there is increasing pressure on policymakers to boost consumption and provide relief to the struggling economy.

Modi’s remarks could signal a shift toward policies aimed at increasing support for the lower and middle-income groups. This could mean reviving welfare programs like PM-KISAN (which supports farmers) or introducing new measures like restoring LPG subsidies, a promise that has been floated during state elections. It remains unclear whether such announcements will materialize, but the political momentum suggests a focus on welfare.

At the same time, Modi emphasized the importance of fiscal prudence. He acknowledged the need for careful budgeting while expressing confidence that the upcoming budget would bolster the economy and support the country’s goal of becoming a "Viksit Bharat" or developed India. Innovation, inclusion, and investment were highlighted as central themes in his vision for India’s economic future.

The government is set to present the Economic Survey and the Union Budget for 2025-26 soon. With the Indian economy currently the world’s fifth largest, the focus is on measures that can reignite growth and help India reach its goal of becoming the third largest economy during Modi’s third term.