Budget 2025: 5 Common Man Issues that need FM’s attention

As Finance Minister Nirmala Sitharaman is set to deliver her eighth Union Budget, the common man hopes for relief from soaring high prices of food items, specifically vegetables. On the other hand, households with restricted income were particularly under burden as wages and salaries did not match with rising inflation. Also, there are less employment opportunities for those who are eagerly searching for jobs. Due to this, such households reduced or postponed consumption over the past few months, hurting corporate earnings.

Below are the top 5 common man issues that need immediate attention from the Finance Minister Nirmala Sitharaman:

Inflation: In recent months, household budgets have been stressed due to increase in prices of packaged food such as toiletries, biscuits, etc. Vegetable prices were also affected owing to weather conditions. On the other hand, cooking oil prices also increased after the government announced duty hikes. All these factors are causing a dent in pockets of common folks, needing immediate relief.

Slow rise in wages: The modest rise in earnings and incomes for workers and junior- to mid-level executives was cited as one of the causes of recent consumption slowdowns. Therefore, taking measures for such issues has become one of the most important actions on part of the government.

Economic Slowdown:  As per National Statistics Office, India’s economy will witness a growth of 6.4% in 2024-25, being the slowest growth rate since the contraction during the pandemic. Therefore, there is a need for a commitment from the government to advance spending, as it is crucial for job creation and boosting growth.

Slow growth of jobs: Despite official data indicating an increase in formal sector employment, India has struggled to produce enough jobs for individuals entering the labor force. Aside from greater government spending on infrastructure, private sector investment in labour-intensive activities has the potential to ameliorate the situation.

High Incidence of Taxes: The high tax incidence has been a pain for those in the lower and middle income groups. The central government cannot make many changes in indirect taxes such as GST, as it is a matter of the GST council. However, implementing measures such as lower import duties on essentials such as edible oil and tax rationalization on petroleum products can provide some relief. 

Individuals in the lower and middle income categories have shown a strong desire to reduce their income tax burden, as this will put more money in their pockets.

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