FM says wishes to do more for middle class

EVEN AS THE economic growth has slowed, tax receipts are relatively strong for the government, with gross personal income tax collections growing at 20.2% on year in the April-October period of the current financial year.

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Analysts have raised concerns over a tepid consumption in the economy in the backdrop of a lower than expected GDP growth print of 5.4% in Q2 FY25. Even though rural consumption has shown feeble signs of recovery in the first half of the current fiscal, urban consumption has slowed mainly due to low real wage growth. In H1, private final consumption expenditure (PFCE), however, has grown 6.7% as again