New Delhi: Speaking to The Wire on the Union budget 2025, political economist and chairman of All India Professionals Congress, Praveen Chakravarty underlined that it “doesn’t address the structural problems in the economy”.
Further, Chakravarty told The Wire founding editor M.K. Venu that private investment has not taken off and it did not take off because of low consumption demand as the middle class didn’t have the capacity to spend. “It remains to be seen how much of an effect it [the revised tax slab] will have on consumption… Government itself is very nervous about stimulating consumption… This should have shown up in increased expectation of GST revenues or corporate tax revenues. They still expect the highest increase from the income tax payers, so there’s something amiss here,” Chakravarty said.
