Bhubaneswar: Testing time for Union Finance Minister Nirmala Sitharaman. People in the country are fast losing confidence on the Union budgets. The 4th edition of Kantar India Union budget Survey 2025 released Thursday hints at the big churning.
People in India are having Himalayan expectations from the BJP-led NDA govt budgets, especially after the pandemic having taxed the lives of poor and middle class alike. Though FM Sitharaman had earlier made a famous statement that – “I didn’t impose costs on people during pandemic, when asked about tax reliefs to middle class.”
A look at the Kantar India Survey brings to fore the dipping faith in Union Budgets, which does not bode well for the BJP-led NDA govt.
DIPPING HOPE
In its 4th edition of India Union Budget Survey, Kantar, world’s leading marketing data and analytics company, has brought to fore the sentiment of the country on India growth story and Union Budget. The finding of the survey when analysed clearly hints at dipping hope of people on Union Budgets.
The survey has been released ahead of Union Budget 2025-26, which is to be presented in Parliament on February 1.
- On question on budget meeting expectations of the people, the result shows the following
- After the presentation of first non-pandemic budget in Feb 2022, people who said the budget had met their expectations stood at – 73%
- In the year 2023, people who said the budget has met their expectations dropped to 70%
- In the Year 2024, the number dropped to 67%
- On India keep growing as the fastest economy in the world, the survey has the following results.
- In 2024, 57% people belived that India will remain the fastest growing economy in the world.
- In 2025, the count shrunk to barely above 50%. Only 53% believe that India will remain the fastest growing economy.
- On Income Tax relief
- Over 51% Indians urged the Finance Minister to increase the basic exemption and give tax rebates on medical and health insurance
- Majority are in favour of a cut in the threshold tax rate of 30% applicalble on income of Rs 15 lakhs and more.
THE OTHER WAY ROUND
How inflation has been spine breaking that the proportion of people citing high inflation control has shot up.
- 57% people in 2024 mentioned Inflation as primary concern
- In 2025, the count has move up to reach nearly 60%. 59% Indian cited inflation as the biggest concern today.
- In the above backdrop, the challenge for the FM is to present a budget that is not inherently inflationary.
