Congress MP Shashi Tharoor reacted sharply to the Union Budget 2025 presented by Finance Minister Nirmala Sitharaman. He questioned the government’s focus on tax cuts while ignoring critical issues like unemployment.
Tharoor stated, “The applause from the BJP benches was for the middle-class tax cut. While this may benefit salaried individuals, what about those without jobs? If you have a salary, you may pay less tax. But what if you don’t have a salary?”
He added, “If you earn ₹12 lakh or less and have a job, there’s reason to be happy. However, the Finance Minister did not address unemployment or inflation in her speech.”
Tharoor criticized the budget for being silent on these key issues. He said, “Her speech was mercifully short, but she didn’t mention unemployment or inflation even once. That’s not so merciful for those affected.”
He also accused the BJP of using the budget for electoral gains, particularly in Bihar. Tharoor remarked, “If you’re from Bihar and part of an ally party, you’ll likely receive sops to help with upcoming elections.”
Under the revised tax slabs, individuals earning up to ₹12 lakh annually will pay no income tax. Salaried taxpayers can benefit further with a standard deduction of ₹75,000, increasing the exemption limit to ₹12.75 lakh.
Sitharaman explained that the new tax structure aims to reduce the tax burden on the middle class, leaving more money for consumption, savings, and investment.
Revised Tax Slabs for FY25-26:
- Up to ₹4 lakh: Nil
- ₹4-8 lakh: 5%
- ₹8-12 lakh: 10%
- ₹12-16 lakh: 15%
- ₹16-20 lakh: 20%
- ₹20-24 lakh: 25%
- Above ₹24 lakh: 30%
Current Tax Slabs (FY24-25):
- Up to ₹3 lakh: Nil
- ₹3-7 lakh: 5%
- ₹7-10 lakh: 10%
- ₹10-12 lakh: 15%
- ₹12-15 lakh: 20%
- Above ₹15 lakh: 30%
Despite the tax relief, Tharoor’s critique highlights the budget’s perceived gaps in addressing broader economic challenges.
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