Pandering to middle class
The Economic Survey 2025 has cautioned about the growing risks to sustaining high GDP growth rates, despite projecting a possible target of 6.3–6.8% for the coming year. Despite these concerns, the Economic Survey 2025 highlights the brighter aspects of the economy while recommending key government interventions amid geopolitical headwinds. Many have described the current tax regime as ‘tax terrorism’ — a perception fueled by high mortgages, multiple cesses and surcharges, inadequate public utilities, rising education costs, tax concessions to businesses and corporations and freebies extended by the government. Nonetheless, the BJP-led Union government has positioned income tax relief as a key strategy to stimulate the struggling economy. Over the past decade, the government has implemented various supply-side measures, including corporate tax reductions, demonetisation, GST reforms, FDI liberalisation and fiscal consolidation.
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