Tax Reliefs Spark Hope for Middle-Class Consumer Spending

In a significant move, the Union Budget 2025 has introduced tax reliefs aimed at the middle class, expected to significantly boost demand for small cars, two-wheelers, and electronic goods. RC Bhargava, chairman of Maruti Suzuki, highlighted the potential for increased consumer spending, stating, "Putting money into the pockets of taxpayers and controlling inflation, as the budget aims to do, will free up funds for consumer expenditure."

Automobile Sector Anticipates a Leap Forward

The automobile industry, having faced challenges over the past year, views the budget as a much-needed demand booster. Shailesh Chandra, MD of passenger vehicles at Tata Motors, and Pawan Munjal, chairman of Hero MotoCorp, expressed optimism about the budget's focus on rural prosperity, green mobility, and simplified tax regulations fostering a conducive environment for growth and job creation.

White Goods and Electronics Set to Benefit

Manish Sharma, chairman of Panasonic Life Solutions India & South Asia, anticipates a surge in consumption of white goods and electronics, driven by the budget's emphasis on increasing disposable income among the populace.