As Finance Minister, Nirmala Sitharaman prepares to present the Union Budget for 2026–27 tomorrow, the document arrives burdened with expectations that go well beyond fiscal arithmetic. India continues to project itself as the fastest-growing major economy, with growth hovering around 6.8–7 per cent. Yet beneath this reassuring macro picture lies a more uneven reality—of squeezed household budgets, fatigued middle-class taxpayers, cautious private investment and rising global trade uncertainty. This is not a Budget where headline announcements alone will suffice. It is a test of economic depth and policy credibility.

The Common Citizen and the Cost-of-Living Squeeze;

For the common citizen, economic success is measured not by GDP charts but by the affordability of essentials. Inflation may have moderated to around 5 per cent, but food prices remain volatile, particularly for cereals, pulses and edible oils. Over the past five years, household expenditure on education, healthcare and transport has risen sharply, outpacing income growth. Welfare schemes—ranging from subsidised food to employment support—now anchor consumption for millions. Any dilution risks weakening demand at the bottom of the pyramid, which continues to drive a substantial share of overall economic activity.

Middle Class Fatigue and the Tax Question;

The middle class enters this Budget cycle with growing fatigue rather than loud expectations. Salaried taxpayers, who form the backbone of direct tax collections, have seen real incomes steadily eroded as wage growth lags inflation. With over eight crore income-tax returns filed annually, nearly 85 per cent by salaried individuals, the burden has........

© Free Press Journal