TTK Prestige Ltd MD thinks government must consider tax benefits to middle class consumer

Chandru Kalro, Managing Director, TTK Prestige Limited

“The past few years have seen unprecedented volatility and India has outperformed most large global economies thanks to some very good policy moves by the government.
My expectation from the budget would be to stimulate demand since we are seeing some slowdown in the second half of FY 23. The broader focus of the budget should be to continue promote growth with a focus on local manufacturing and exports, keeping in sync with the ‘Make-in-India’ agenda. The supply side has been well managed and the demand side needs more attention. Inflation has been sticky and difficult for large section of the society and the government must look at reducing some taxes, both direct and indirect so that more money is available with the people. The middle class is the backbone of the economy. They’re the main drivers of consumption and economic growth and there needs to be a special focus on them. The government must consider tax benefits to the middle class consumer, the salaried employees who have paid their taxes honestly always. This will have a significant impact on their finances and expenses. It will leave them with additional disposable income in hand which will help drive consumption and boost the economy. Thus, I would love to see some tax breaks for this section of the society in the budget.”