The decision to exempt income tax up to ₹12 lakh is a game-changing reform: Singhania

Mumbai, The decision to exempt income tax up to ₹12 lakh is a game-changing reform that boosts India’s middle class by increasing disposable income. Reaction Quote by Mr Gautam Singhania, Chairman & Managing Director, Raymond Group.

This is expected to drive household spending—an essential growth engine for sectors like retail and real estate. Higher discretionary spending signals economic vitality, fueling consumption-led growth and strengthening market dynamics. The Union Budget 2025-26 builds on this reform with targeted measures to fortify manufacturing, MSMEs, and domestic consumption.

Enhanced credit access, sector-specific incentives for textiles and apparel, and streamlined compliance are set to boost industrial output. With the middle class now driving nearly 60% of domestic consumption, rising purchasing power is likely to accelerate demand for aspirational and premium products. This holistic strategy positions the economy for sustained expansion by creating a strong synergy between consumer spending, industrial growth, and workforce empowerment.”