Shark Tank’s Anupam Mittal spoke on zero tax on income up to Rs 12 lakh in Budget 2025
Delhi Delhi: Welcoming the budget announcement related to tax exemptions for individuals earning up to Rs 12 lakh, Shaadi.com founder and renowned Indian entrepreneur Anupam Mittal said that it is not just a tax cut but a “systematic reform”. The Shark Tank judge said that for years, middle class professionals have been India’s punching bag, but this Union Budget brings a big change. In a post on LinkedIn, Anupam Mittal said, “For years, middle class professionals have been India’s punching bag. Taxed at every turn, squeezed for every rupee, while the ultra-wealthy find loopholes and businesses get tax breaks. Every budget, same story- expectations rise. Expectations rise. Then- another “Sorry, no relief for you.” But Budget 2025 brings a big change.” He said, “No tax on income up to Rs 12.75 lakh under the new tax regime. I call it not just a tax cut, but a systemic reform.” Citing examples of how the US and China are increasing the earning capacity of the middle class, Mittal said, “History shows that strong economies are built on a thriving middle class, not a burdened middle class. After World War II, the US bet on its working class. Manufacturing, housing and consumer spending boomed. In the 2000s, China focused on the middle class. Higher incomes, faster economic expansion, wider global influence.” He further said that the middle class in India, especially the salaried class, is under increasing pressure. Mittal said, “India? For many years we have been doing it the opposite. Instead of promoting spending and investment, we kept suppressing our most productive taxpayers – the salaried class.” Anupam Mittal said that the economy is built by making people rich. “You don’t build an economy by making people feel poor. You build it by making them feel rich,” the Shark Tank judge stressed. Finance Minister Sitharaman announced during her Union Budget 2025 speech that there will be no income tax on income up to Rs 12 lakh. For salaried taxpayers, the limit will be Rs 12.75 lakh, including Rs 75,000 of standard deduction.
