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Budget 2025 - Why government needs to prioritize middle class taxpayers
Given the large number of people in the middle income range, experts think that a budget that is friendly to the middle class will eventually improve the lives of millions of people nationwide by increasing savings and boosting consumption. The founder and CEO of StockGro, ajay Lakhotia, has advocated raising the standard deduction cap.
The director of VSRK capital, Swapnil Aggarwal, expects favorable regulations for capital gains investments to be implemented.
The new restrictions are expected to boost investor confidence and increase tax advantages for the wealth management industry. "Encouraging both short- and long-term capital gains investments through favorable tax policies is a notable focus," he stated.
He also advocated for laws that would encourage prudent investing and be investment-friendly for wealthy people.
Policies that promote investments and uphold strict regulatory structures intended to protect their interests are anticipated to benefit HNIs. In addition to encouraging responsible investing, these actions support the more general objective of economic resilience, said Aggarwal.
Reduced regulatory constraints for people and organizations are what Kunal Gala, Partner, Deal Value Creation, BDO India, expects.
"Budget 2025 aims to promote holistic development and guarantee a safe, prosperous future for all stakeholders by addressing important areas like taxpayer relief, business compliance, environmental sustainability, and strong wealth management regulations," Swapnil Aggarwal continued.