Shaadi.com CEO Anupam Mittal expressed his approval of the government’s decision to implement zero tax for individuals earning up to ₹12 lakh, as outlined in the Union Budget 2025. He pointed out that the middle class has often been treated as a “punching bag,” facing taxation on every rupee earned, while the wealthy exploit loopholes and businesses benefit from tax incentives. Mittal believes that the Union Budget 2025 brings renewed hope for the middle class.
In a LinkedIn post, Mittal welcomed the Budget 2025 announcement, stating, “For years, middle-class professionals have been India’s punching bag. Taxed at every turn, squeezed for every rupee, while the ultra-rich found loopholes and businesses got tax breaks.” He noted that previous budgets had not met the expectations of the middle class, but this proposal represents a significant change. “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. I call this a systemic correction, not just a tax cut.”
On February 1, Finance Minister Nirmala Sitharaman announced an increase in the income tax exemption limit to ₹12 lakh from the previous ₹7 lakh. She stated, “I am now happy to announce that there will be no income tax payable up to an income of ₹12 lakh (i.e., an average income of ₹1 lakh per month, excluding special rate income such as capital gains) under the new regime. This limit will be ₹12.75 lakh for salaried taxpayers due to the standard deduction of ₹75,000.”
Mittal emphasized the importance of the middle class in driving economic growth, drawing parallels with the United States and China. He remarked, “History tells us that strong economies are built on thriving middle classes, not overburdened ones. The US post-WWII focused on its working class, leading to a boom in manufacturing, housing, and consumer spending. China in the 2000s prioritized the middle class, resulting in higher incomes, rapid economic expansion, and significant global influence.”
He highlighted how the Indian middle class has been overtaxed over the years, which has hindered consumption and investment. However, he believes the recent government proposal will stimulate economic spending. “India? For years, we got it backwards. Instead of fueling spending and investment, we kept squeezing our most productive taxpayers—the salaried class. This Budget shifts that. More disposable income equals more consumption, leading to more economic growth. You don’t build an economy by making people feel poor; you build it by making them wealthier.
