New Delhi: Prime minister Narendra Modi on Thursday said the middle-class is confident and determined to anchor India’s journey to become a developed nation.
He was speaking in the Rajya Sabha during the motion of thanks to the president’s address. The statement comes days after the union budget for FY26 announced exemption of income tax for salaried people earning up to ₹12 lakh per year.
“The middle class today is filled with confidence, which is unprecedented and greatly strengthens the nation,” said Modi, adding that the Indian middle class is determined and fully prepared to realize the vision of a developed India.
Emphasising that the government is committed towards the neo-middle class and middle class, the prime minister said their aspirations are a driving force for the country’s progress, providing new energy and a solid foundation for national development. He highlighted efforts to enhance the capabilities of the middle and neo-middle classes.
He noted that a significant portion of the middle class has been exempt from paying taxes in the current budget. In 2013, the income tax exemption limit was up to ₹2 lakh, but it has now been increased to ₹12 lakh, he added.
Benefits of Ayushman Bharat
The prime minister further said individuals over 70 years of age, from any class or community, are benefiting from the Ayushman Bharat scheme, with significant advantages for the elderly in the middle class.
He said India is now seen as one of the fastest-growing countries, and the nation’s economy is expanding significantly.
The Economic Survey for FY25 has projected a growth rate of 6.3-6.8% for FY26 on the back of a “strong external account, calibrated fiscal consolidation and stable private consumption”. It also said that domestic growth levers will be more important than external ones in the coming years for the Indian economy.
Outlining achievements and initiatives under the NDA government, Modi said that India has become the world’s second-largest mobile phone producer, transitioning from being predominantly an importer to an exporter of mobile phones.
On India’s achievements in defence manufacturing, he said that defence exports have increased 10-fold over the past decade. He also highlighted the tenfold increase in solar module manufacturing. He added that India is now the world’s second-largest steel producer while machinery and electronic exports have seen rapid growth over the past decade.
The prime minister also noted that toy exports have more than tripled, and agrochemical exports have increased significantly.
The union budget also outlined a plan to further develop the toy manufacturing in the country. Building on the National Action Plan for Toys, the government plans to implement a scheme to make India a global hub for toys which will focus on development of clusters, skills, and a manufacturing ecosystem that will create high-quality, unique, innovative, and sustainable toys that will represent the ‘Made in India’ brand.
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