After the Minister of Finance, Nirmala Sitharaman, provided tax relief essential to the middle class in the Union 2025-26 budget, the director general of investments of the Circle Gurmeet Chadha called for a stronger tax compliance, in Particularly among individuals and companies that underestimate income despite a sumptuous lifestyle.
“Now is our turn to answer. I know so many people who live in chic colonies, leading Mercs, spending sumptuously and producing declarations of 10 to 15 revenue. Many companies making cash sales and avoiding TPS and income tax. We cannot demand our rights but fail on our duties. Govt should use technology, get cracking. Expand the net !! “Said Chadha.
His remarks intervene a day after the Minister of Finance Sitharaman announced significant tax relief for the middle class, exempting annual income up to 12 Lakh of income tax under the new regime, while shaking the slabs tax. This decision, aimed at stimulating consumption in a slowdown economy, was greeted by industry leaders, but also triggered discussions on the need to expand the tax base.
Although tax reductions should provide immediate reduction and stimulate demand, Chadha’s comments highlight a persistent problem: the escape focused by population segments with visibly high expenses but low income reported. He urged the government to take advantage of technology to improve tax collection and ensure that those who should contribute their fair share are introduced into the tax net.
Other industry leaders have also weighed on the budget. Uday Kotak, founder of Kotak Mahindra Bank, described it as “budget for stable tax consolidation”, adding that the tax relief of the middle class should help stimulate consumption. “A budget for stable budgetary consolidation. A tax sweetener for the middle class should help consumption. Improves stages to improve the ease of doing business,” Kotak wrote on X.
The president of the RPG group, Harsh Goenka, compared the budget to a “Mahakumbh”, declaring that he “prevails over consumption problems, putting money in the hands of the middle class”. The president of the group Vedanta, Anil Agarwal, praised the budget to make income up to Rs 12 Lakh in tax franchise, calling it a decisive decision to a simpler and more transparent tax system. He underlined the accent put by the government on the sectors such as mining, agriculture and manufacturing, which are about to create jobs and reduce dependence on imports.
