New Delhi, Feb 2 (PTI) Solicitor General Tushar Mehta on Sunday said that the Union Budget 2025-26 reflected the government's commitment to improve the lives and finances of the country's middle class.

Mehta said the Budget provided a strong impetus for increasing consumption and boosting investments among all segments of the economy.

He said, "The significant amendments made to the income tax rates reflect the government's strong commitment to improving the lives and finances of India's rapidly expanding middle class, which now includes a vast percentage of the population which has been pulled out of financial problems by fiscal and other measures undertaken over the past decade." The senior lawyer said Prime Minister Narendra Modi aptly described the Budget as a force multiplier that will encourage and propel the economy's growth trajectory by further encouraging job creation.

"The Budget proposals reflect a comprehensive and forward-looking blueprint given by the finance minister for the next stage of transformation of the Indian economy as a responsible global economic superpower, by spurring investments in new-age sectors such as electric vehicles, artificial intelligence and cutting edge research and development (R&D) in life-saving drugs as well as traditional sectors such as shipbuilding and hospitality," the solicitor general said.

Mehta also said the measures for developing civil nuclear energy will ensure the country's energy security in the coming years.

"The new 'Funds of Funds for Startups' with a contribution of Rs 10,000 crore by the Centre and enhanced support for MSMEs reflect a well-considered approach to developing all sectors of the economy even while focussing on developing India as a manufacturing superpower.

"All in all, the budget proposals demonstrate that Viksit Bharat is an idea whose time has come and has taken its position on the global stage," he said. PTI MNR SKY SKY

Income tax amendments to boost middle class finances and stimulate consumption, paired with sectoral investment incentives. Significant amendments to income tax rates aim to improve middle class finances, boost consumption, and support job creation, while the Budget pairs demand stimulus with targeted supply side incentives for sectors such as electric vehicles, artificial intelligence, life saving drug R&D, shipbuilding and hospitality; provides enhanced support for MSMEs and a Fund of Funds for startups; and advances civil nuclear energy initiatives to strengthen manufacturing capacity and energy security.