#BudgetRoundTable2024: HDFC Bank's Abheek Barua On Budget 2024’s Middle Class Impact

During the #BudgetRoundTable2024 conference, Sourav Majumdar, Editor of Business Today, engaged in an exclusive conversation with Abheek Barua, Chief Economist at HDFC Bank, to discuss the Budget 2024-25 announcements and their impact on the middle class. Barua emphasized the significance of the middle class, describing it as a "very thick middle." He noted that even modest augmentations of 400-500 rupees to the lower middle class could significantly boost their purchasing capacity. This increase in disposable income is likely to benefit the FMCG mass market, as companies catering to these consumers would see a positive impact. Barua also highlighted that the middle class is particularly affected by inflation, and these augmentations, although modest, would make a meaningful difference in their financial situation.