Union Budget 2025 empowers middle class and drives a vibrant, self-sustaining economy: M A Yusuff Al

Hailing the Union Budget 2025 announcements, Chairman of Lulu Group Yusuff Ali M A said it marked a pivotal moment in India’s economic trajectory, delivering a much-needed boost to the middle class while advancing the country’s goal of becoming a $5 trillion economy. 

With a focus on tax relief, infrastructure development and sector-specific reforms, the government demonstrates its commitment to sustainable, long-term growth. Key measures, such as income tax reductions—including a no-tax threshold up to Rs 12 lakh—and expanded exemptions and incentives for startups and MSMEs, will directly benefit individual incomes and entrepreneurial ventures, he pointed out. 

The lowering of TDS rates will surely bring relief for salaried individuals, while increased customs duties incentivize local manufacturing. These tax reforms are set to invigorate the trade sector, especially the retail industry, Yusuff Ali hoped.

The decision to expand Foreign Direct Investment, particularly in the insurance sector, is a forward-thinking move poised to attract greater global investments. In addition, the raised interest income exemption for senior citizens offers essential financial security, improving their long-term well-being, he said.

“This budget clearly empowers the middle class and fosters a vibrant, self-reliant economy,” he said.