'I pray to Lakshmi to bless poor, middle class': PM Modi on Budget

NEW DELHI: PM Modi on Friday sought "special blessings" of Goddess Lakshmi for the middle class and poor, fuelling expectations that finance minister Nirmala Sitharaman may give relief to taxpayers and announce more welfare measures for the needy.

"Today, at the beginning of the Budget session, I bow to Lakshmi, the goddess of prosperity. And on such occasions, for centuries, we have been remembering (her) virtues. Ma Lakshmi gives us success and wisdom, prosperity and well-being. I pray to (her) that every poor and middle-class community of the country should be blessed..." Modi said.
The hope of Sitharaman announcing such special measures was raised afterwards by President Droupadi Murmu in her address to a joint sitting of Parliament. "The economic progress of a nation like India is defined by the aspirations of the middle class and fulfilment of those aspirations," she said.
Many in govt feel affection of middle class and poor should be reciprocated
The bigger the dreams of the middle class, the higher the nation soars. It is my govt that has, for the first time, openly acknowledged and appreciated contributions of the middle class on every occasion," President Droupadi Murmu said as she listed welfare measures taken by Modi govt since 2014. The President's address is seen as a declaration of govt's intent.

The middle class and a chunk of the poor have largely stood by Modi. Although his govt, as Murmu stressed, has reduced the tax burden and has also widened and deepened the welfare net, there seems to be a feeling in govt that the affection of the two constituencies needed to be reciprocated. This ties in with the opinion of many economists that relief to the middle and new-middle classes will help govt's effort to accelerate growth by boosting consumption.
Murmu flagged the recent decision to constitute 8th Pay Commission for central govt employees.
"Govt employees are significant representatives of the middle class. So, this decision will lay the foundation for substantial salary increases for govt employees in the coming years," she said.
"Centre has decided to provide 50% assured pension to lakhs of employees under Unified Pension Scheme, which is widely welcomed. My govt is committed to fulfilling the middle class's dream of owning a home. Laws like RERA have been introduced to safeguard their dreams. Subsidies on home loans are being provided," she added. Murmu said through the UDAN scheme, about 1.5 crore people had fulfilled their dream of flying.